The Research On Identification And Evaluation Of Financial Risk Of SANY Transnational Mergers And Acquisitions

In recent years, the US subprime mortgage crisis and the impact of the European debt crisis, Europe and the United States economic recovery, by contrast, China’s economy still maintained a strong growth, at the same time, the Chinese enterprise’s economic strength is also growing. In order to open up and expand the international market, more and more domestic enterprises adopt the method of transnational mergers and acquisitions to enter the international market, which makes Chinese enterprises cross-border M&A has enjoyed record number and amount. Is continuous development to realize enterprise of transnational M&A, the important way to expand market share, through the expansion of the scale, the enterprise can better on a higher level of resources configuration, give full play to the advantages of economies of scale. Under the background of market economy, the benefits and risks is always accompanied by them. Transnational mergers and acquisitions in the merger and acquisition enterprise to bring the huge gains at the same time, also make the M&A enterprise is facing huge risk, the financial risk of enterprise merger and acquisition success play a decisive role.This paper mainly adopts literature research, combining qualitative analysis and quantitative analysis and case study method, in view of the whole process of Chinese enterprises transnational mergers and acquisitions: preparation stage, implementation stage and consolidation stage, stand in the perspective of management, for each phase of the financial risk identification and evaluation research. First of all, on the basis of domestic and foreign relevant research dynamic understanding, this paper expounds the related concepts and research in this paper the theoretical basis, and then the theory with practice, combining with SANY cross-border M&A cases, system elaborated the process and reason of SANY, transnational mergers and acquisitions, and in various stages of the financial risk of transnational M&A. On this basis, this paper, the integrated use of analytic hierarchy process(AHP) and fuzzy comprehensive evaluation method to build the for SANY transnational M&A financial risk evaluation model, and USES the model to SANY studies the quantitative assessment of the financial risk of the cross-border M&A. Finally, according to SANY cross-border M&A financial risk identification and assessment results, to prevent cross-border M&A financial risk of the corresponding Suggestions were put forward.The contribution of this paper lies in the cross-border M&A and the financial risk associated with cross-border M&A as the carrier to study the specific financial risk identification and evaluation., according to the specific flow of SANY heavy industry of transnational merger and acquisition of SANY heavy industry at various stages of transnational M&A financial risk identification, and by building a hierarchical, details of cross-border M&A financial risk evaluation index system, the integrated use of analytic hierarchy process(AHP) and fuzzy comprehensive evaluation method established for SANY transnational M&A financial risk evaluation model, thus make the financial risk of the SANY heavy industry process of transnational merger and acquisition of quantitative more evidence. At the same time, combining with SANY cross-border M&A financial risk identification and evaluation, the result of the targeted put forward a series of cross-border mergers and acquisitions of financial risk prevention advice, so as to provide reference for enterprises to guard against financial risks of transnational M&A in our country and draw lessons from.