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SW Merger Hongyuan Securities Risk Analysis And Countermeasure Research

Posted on:2017-04-06Degree:MasterType:Thesis
Country:ChinaCandidate:W ZhangFull Text:PDF
Abstract/Summary:PDF Full Text Request
In the modern market economy, the competition is very fierce. If enterprises want to get a place in the fierce market competition, only rely on product R & D, cost reduction is far from enough, but also through mergers and acquisitions to achieve capital expansion and resource optimization. With the rapid development of China’s social and economic development, the economic system and the expansion of the scale of the industry, the phenomenon of mergers and acquisitions between the company gradually increased. Especially for the industry concentration degree is low, the single brokerage size too small in the securities industry in terms of, M & A has not only become the securities industry is the primary way to expand, but also to improve the securities industry concentration degree is one of the effective means. Through mergers and acquisitions to increase their market influence, to promote its transformation to the outstanding securities company.However, in M & A activities are often accompanied by high risk. Corporate mergers and acquisitions risk is generally divided into the following four kinds: financial, strategic, asset and brand. Which financial risk is often dominant. Merger risk is objective existence, only to mergers and acquisitions in the various types of risk analysis and judgment, and take corresponding measures, can effectively improve the merger and acquisition success rate, and ultimately to expand the scale of enterprises and industrial structure upgrade. Therefore, this paper is mainly to explore the main existence of mergers and acquisitions in the process of risk, how to reduce the risk of mergers and acquisitions and the impact of mergers and acquisitions on the company’s risk.Select "SW M &Hongyuan securities" as a case, on the one hand is because this case is the securities industry so far the largest market of mergers and acquisitions, in the event of mergers and acquisitions in the securities industry has extraordinary significance. On the other hand, ShenyinWanguo mergers and acquisitions Hong Yuan Securities the is convertible absorption merger, in reducing the risk of payment, saving transaction costs at the same time, the SW listed, this way for the development of China’s securities companies provides new direction.In the content of the article, first of all, this paper introduces the background of this study, and points out the practical significance of the article writing. Secondly, explain the theory. Then, starting from the basic situation and operation status of the case, the paper analyzes the internal resources of the two parties, finds out the reason of the M & A, and summarizes the characteristics of the M & A. Finally, aiming at the transaction structure and strategy formulation of this merger, the risk of the risk is found, and the risk response strategy is studied.This paper take the research method of case study and literature review, in carries on the thorough analysis to the SW M & Hong Yuan Securities, analysis of the merger and acquisition risk existed in the process at the same time, to make the article more convincing. This paper has selected and two from the perspective of the impact of the industry and market forces to analyze the motive of M & A, tries to find out the SW M & Hong Yuan securities listed in the process of risk, and to take the risk response strategy conducted in-depth research, in order to within the industry in the future and pointed out the clear direction of development.
Keywords/Search Tags:Merger Risk, Horizontal Merger, Acquisitions, Convertible Merger
PDF Full Text Request
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