An Empirical Research On Financial Risk Of Merger And Acquisition Of Listed Companies

Erger & Acquisition is the enterprise to expand and enhance profitability,enhance core competitiveness, thus an effective method of realizing leap-forward development. Throughout the history of the world 500 strong, most of them are growing up in mergers and acquisitions. With the deepening of reform and opening up, the establishment and perfection of the Chinese characteristic socialist market economy,China’s economic strength and core competitiveness of enterprises is growing faster,after the financial crisis in 2008, the world set off a wave of corporate restructuring and upgrading of industrial structure, for out of doors, integrating global resources for Chinese companies is a great opportunity for development, Chinese companies also seize the opportunity, in the lead, merger, acquisition and reorganization of the battlefield, But M&A is a high-risk strategy choice, because of the lack of control the risk of mergers and acquisitions experience, a large portion of the companies involved in mergers and acquisitions finally did not achieve the desired purpose of mergers and acquisitions, but had to swallow bitter failed to merge. M&A financial risk is the crucial factors influencing the M&A success or failure, this paper is divided into six chapters to illustrate:The first chapter, introduction. This article first elaborated the selected topic background and research significance, domestic and foreign research on this topic by reading literature, and tries to sum up, their research content and method, and then suggests that innovations and shortcomings of this article.The second chapter, the core concepts of the definition and theoretical basis. This chapter first combining previous research made a definition to the concept of mergers and acquisitions, and then introduced the theory of enterprise financial risk control.The third chapter, the listed enterprise M&A financial risk analysis of the theory.Related to pricing, financing, mergers and acquisitions in the risk of payment and integration analysis, lay a theoretical basis for the back of the empirical research.The fourth chapter, an empirical analysis of the listed enterprise M&A financial risk. This chapter using the Excel and SPSS software to 18 descriptive statistics analysis of the financial data of listed companies, it is concluded that financial risk in enterprise mergers and acquisitions increased.The fifth chapter, the listed enterprise M&A financial risk control measures.According to the results of the empirical analysis in the previous chapter in this chapter from the perspective of macro and micro several M&A financial risk control Suggestions are put forward.The sixth chapter, conclusion and prospect. This chapter make a few conclusions on the content of the full text, and made a good expectation for the future of mergers and acquisitions.Characteristics of this paper is to introduce the foreign mature financial risk quantitative models to listed companies of our country financial risk in M&A to make quantitative analysis, makes us more clear pricing, financing, payment and integration of M&A risk is how to influence the effect of mergers and acquisitions, and accordingly put forward corresponding control M&A financial risk countermeasure and the suggestion.