Research On Financial Risk Of Enterprises’ Mergers And Acquisitions Of Listed Steel Companies

In recent years, with the development of economy, the change of the enterprise survival environment,technological innovation ability,as well as multinational companies and the emergence of new competitors,market and consumer demand increasingly complex and changeable and unpredictable,the enterprise only rely on their ability to meet the needs of expansion has been difficult to achieve,so that more enterprises choose to mergers and acquisitions to expand the business expanding the size of the market,to enhance their competitive ability. Thus,merger reorganization of the phenomenon is growing in China,not only a sharp increase in the number of mergers and acquisitions mergers,but also acquisitions amount is rising sharply.Iron and steel industry is the foundation of the national economy development time affects the whole national economic development in our country based on the iron and steel enterprise merger,acquisition and reorganization as the main line the current research the situation of the domestic iron and steel enterprises mergers and acquisitions. Analysis of the development of the world’s largest iron and steel enterprises,and they are in consolidation and become leading iron and steel enterprise,in comparison with the developed countries in the world,China’s steel industry as a whole scale layout is more dispersed,low concentration,some technical level is low,low product added value, therefore,under this background,the merger, acquisition and reorganization has become an important means of expanding steel industry,and the success of merger,acquisition and reorganization has determines whether our country can be from a big iron and steel to steel power In iron and steel enterprise merger,acquisition and reorganization.however,there are some inevitably in the process of merger and acquisition risk,and the financial risk is an important factor of success for mergers and acquisitions,so the m&a financial risk forecast and prevention is very important. The main content of this paper is combined with the characteristics of the steel industry in China,the research of iron and steel enterprises mergers and acquisitions of financial risk. First of all,on the basis of clearly identified the relevant concepts,a careful reading related literature both at home and abroad, the application of qualitative analysis, this paper discusses the types and the cause of the financial risk of merger,and the financial risk of the merger integration can be divided into four categories: price risk,financing risk and payment risk and financial integration risks; Secondly, through the case of iron and steel,baosteel m&a research this case characteristics of mergers and acquisitions, and as a breakthrough point of this paper,quantitative analysis,finally for the iron and steel industry in our country,put forward the prevention and control measures of financial risk of merger,acquisition and reorganization and the specific feasible suggestion,in order to improve China’s iron and steel industry mergers and acquisitions in the financial risk prevention and control ability.