Research On Risk Control Of Enterprise RTO In China

RTO is an important means to achieve strategic development for private enterprise.after successful RTO, enterprise can achieve continued low-cost, large-scale financing facilities. However, RTO is also a high-risk capital works, risk exsit in the RTO process everywhere. Therefore, building identification, measurement and control model for enterprise RTO risk with the combination of the characteristics of the RTO has certain practical significance and research value to provide theoretical guidance for the the RTO enterprise in China to improve its success rate. The existing research literature explores ways and the effects of mergers and acquisitions, but the few scholars conduct in-depth studies of such mergers and acquisitions for the RTO. Thus, on the one hand, a large number of enterprises in the market have RTO motives, but on the other hand, academia pays scarce attention to RTO, this space is set aside for this study.The RTO theory of foreign scholars is built on the the Western mainstream M&A and its theoretical basis, however, due to the complexity and uncertainty of the specific physique transformation of China, the applications of mainstream theory RTO have a lot of limitations. Learning from mainstream theory and combining the unique environment for RTO in China, this dissertation explores enterprises RTO risks and their control in China.This dissertation takes "basic theory of enterprise’s RTO risk control—identification of enterprise’s RTO risk—measure of enterprise’s RTO risk—control of enterprise’s RTO risk—Case Study" as the study logical route. It sets up research framework with enterprise risk management theory, systems theory, M&A theory and other disciplines of knowledge. This dissertation analyzes identification and measure for enterprises’RTO risk, and puts forward control measure for enterprise RTO risk. The whole research is as followings:Chapter1illustrates the research purpose and research significance of enterprise RTO risk control. After deeply studying the domestic and foreign scholars’literature review on enterprise RTO risk control, the dissertation proposes the research contents, research methods and research train of thought. Based on the research on RTO, Chapter2analyzes the operational mechanism of enterprises RTO and studies the connotation and formation mechanism of RTO risks. Chapter3analyzes risk identification of RTO in China from the two aspects of the identification object and identification methods. Chapter4builds risk measure model, risk measures model and risk control model. Chapter5discusses control strategies of RTO risks from shell election stage, purchasing stage and restruction stage. Chapter6explains a Case Study.