Study On The Risk Assessment Of Sinopec's Overseas Merger And Acquisition

In today's economic globalization and trade diversification,state-owned energy enterprises should continue to play a pioneer role in the tide of the times,and inevitably choose transnational mergers and acquisitions to obtain advanced technology and enhance their market competitiveness.But it is not easy to carry out overseas mergers and acquisitions,but is full of challenges and various risks.It plays a key role in the success of overseas mergers and acquisitions.Therefore,this paper selects the representative SINOPEC enterprises in the state-owned energy enterprises,and evaluates the possible risks that they may face at various stages of the overseas merger and acquisition.This paper uses fuzzy analytic hierarchy process to comprehensively evaluate Sinopec's overseas M & a risk.First,the existing domestic and foreign related literature and information are analyzed and collate,not only to sort out the shortcomings of previous scholars' research,but also to find new breakthroughs and research directions and lay the foundation for the latter.Secondly,the present situation of Sinopec's overseas merger and acquisition is reflected in the cases involved in the overseas merger and acquisition.The characteristics are integrated to further obtain the main risks that Sinopec will face in the overseas merger and acquisition.Thirdly,through the three stages of Sinopec's overseas merger and acquisition: preparation stage,implementation stage and integration stage,the risk factors are arranged,and the political risk,legal risk and decision-making risk have all the risks.A risk factor is selected and the overseas M & a comprehensive evaluation model is introduced to construct the risk evaluation index system of Sinopec's overseas merger and acquisition.After establishing the related system and evaluation method,the practical and effective test is carried out with the case of Sinopec's acquisition of the foreign merger and acquisition of the Egyptian oil assets.Finally,some reasonable suggestions and preventive measures are put forward to the risks faced by Sinopec overseas mergers and acquisitions,so as to provide some reference for China's state-owned energy enterprises to improve the success rate of overseas mergers and acquisitions and to prevent the risk.