Research On The Integration Of Financial Resources In Mixed M & A

Today’s society is a competitive everywhere in the environment, enterprises musthave the ability to obtain the living space, otherwise unable to survive in the society.In the process of the development of enterprises, enterprises are faced with theproblem is not only the survival problem there is the scale of the expansion ofreproduction and the speed of enterprise development. Every enterprise can notremain stagnant, which do not meet the existing significance and strategic decision ofenterprises.M&A solution to the enterprise the pursuit of the scale of production and therapid growth of the objective, the western countries have already started the enterpriseand buys in the last century, M&A pattern is the first horizontal merger between theindustry, the main purpose is to realize the industry monopoly and optimal economicscale; then the enterprise merger and acquisition mode into the vertical merger thisacquisition mode, mainly in order to expand production scale and reduce costs,mainly focused on manufacturing industry merger and other relative industry; in theend, in order to realize the operation and management of large-scale, integratedhorizontal, vertical M&A the characteristics and evolution of the M&A mode ofmixed M&A, this general model of M&A including product expansion, regionalexpansion and pure mixed type. The mode of merger&acquisition brought theenterprise merger climax, speed up large-scale, large and giant enterprises, acceleratethe development of economic globalization. But in China in the last century eighty’sbegan to appear in mergers and acquisitions, mergers and acquisitions can be said thetechnology was not mature enough, but because of the global M&A mode is mainlymixed acquisition mode, in this case in China in the process of integrating into theglobal economy, and the main form of enterprise purchase is mixed M&A.Enterprises in the mixed after the merger, the target enterprises should integrateall kinds of resources, mainly is the integration of various resources integration offinancial resources, enterprise culture integration, human resource integration,organization integration and so on a series of target enterprise are closely related, thisis mainly because the current M&A failure rate as high as80%, which is that M&Aprobability of success is very low. The integration of various resources of the targetenterprise is one of the main factors to ensure the success of M&A, the resourceintegration is the integration of financial resources is the most important, this is because the financial resource is an enterprise to maintain the vitality and maintain animportant guarantee for the long-term development of factors, financial resources areimportant guarantee and premise of an enterprise to carry out all the productionbusiness activities.The focus of this paper is mixed M&A enterprises in the integration of financialresources, the first clear the financial resources including financial personnel,financial structure, financial information and financial accounting system. This paperis mainly relevant content from the conglomerate merger and integration of financialresources to define related concepts, mixed merger and integration of financialresources; then summarizes the experiences and lessons of mixed M&A failure,launch the comprehensive analysis, the cause of failure and the target enterprises, andthe financial resource integration failure is caused by the main factors of mixed M&A failure; followed by analysis of the financial resource integration principle,procedure and the purpose and main contents of financial resources integration,including the integration of financial personnel, financial organizations, the financialaccounting system integration and financial integration; then through the acquisitionof case analysis, draw the conclusion of a mixed M&A the enterprise: the enterpriseis the fundamental purpose of financial resources integration is to get the M&Aperformance, achieve synergy, financial integration is method, therefore, the M&Aperformance is the goal, the ultimate goal of financial integration is to achieveintegration of performance and efficiency; finally, using financial index test mixed M&A enterprise financial resources integration, through profit the evaluation ofenterprise debt paying ability, ability, camp Operation ability and growth ability, aswell as through the financial indicators of the financial organization rationality test,the conclusion.This paper is focused on the various financial resources integration involves themixed M&A, the difficulty is how to effectively use the financial index to evaluatethe effect of integration of financial resources, and draws the conclusion. This paper isonly based on the financial integration problems with mixed in mergers andacquisitions, expound the author viewpoint, then draws the preliminary conclusion,inappropriate, please.