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Mergers And Acquisitions: Motives, Risk And Financial Options

Posted on:2002-08-15Degree:MasterType:Thesis
Country:ChinaCandidate:X H QianFull Text:PDF
GTID:2206360032952269Subject:Finance
Abstract/Summary:PDF Full Text Request
This paper mainly discusses three issues as follows: causes of enterprise merge & acquisition (M&A), M&A risks and financial arrangement during M&A.In the first chapter of introduction, the paper observes some problems existing in the process of enterprise M&A in China, combined with the background of economic developments of our county. Besides, the paper presents research emphases and structure arrangement of the paper.In the following chapter, based on the brief review of enterprise M&A I-IISTORY OF China and foreign countries and M&A theories, the paper analyzes causes for M&A, then argues that to realize maximum of enterprise net present value is the purpose for M&A. Also, the paper sets forth the influences on M&A strategy of the following aspects: whether management resources are residual, whether organization experience can be replanted, the extent of cooperation of financial resources and so on.In chapter llI,the paper reviews main factors and processes leading to M&A risks, analyzes main characteristics of M&A risks and puts forward basic methods to manage M&A risks. Moreover, according to the realities in China, the paper explores special M&A risks of our country.In the last chapter, the paper explores in details M&A strategies and financial arrangements, including M&A price, M&A methods, payment instruments and payment strategies. In addition, the paper researches into the issues regarding leveraged buyout and management buyout. Then, the paper argues that development of management stockholding reform is favorable to adjusting stock structure, which currently should be the direction for enterprise M&A in China.Student Name: Qian Xiaohong ( Finance)Directed by Li Xinhe...
Keywords/Search Tags:Enterprise Merge & Acquisition Risk Finance
PDF Full Text Request
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