Research On Financial Risk Control Of State-owned Enterprise Mergers And Acquisitions

In recent years,China's M & A activities are active,no matter the number of mergers and acquisitions or the scale of mergers and acquisitions,are constantly record high.With the deepening of the reform of state-owned enterprises,mergers and acquisitions of state-owned enterprises has become the optimization of structure and layout,improve asset utilization,effective means to resolve overcapacity.Under the encouragement of various national policies,the construction of relevant systems and the push of market force,the number of merger and reorganization of state-owned enterprises will be more and more.In addition,the Chinese enterprises are expanding to overseas markets,the state-owned enterprises as the leader should be at the forefront,mergers and acquisitions with foreign enterprises,learn from each other.However,domestic mergers and acquisitions of overseas mergers and acquisitions are hidden a lot of merger risk,a little attention may lose the wife of another soldier,but China's state-owned enterprises mergers and acquisitions with strong political overtones,therefore,mergers and acquisitions of state-owned enterprises financial risk analysis has certain theoretical significance and practical significance of the research.Based on the theory of financial risk of mergers and acquisitions,this paper analyzes the present situation of mergers and acquisitions of state-owned enterprises,and obtains the financial risks of mergers and acquisitions of state-owned enterprises in China,and discusses the sources of financial risks of mergers and acquisitions.And the state-owned enterprise M & A all kinds of financial risk control are discussed.Finally,combined with the state-owned company BL company case analysis,combining theory and practice,through the BL company to the financial risk control in the process of mergers and acquisitions,mergers and acquisitions for other state-owned enterprises and puts forward related suggestions.Mergers and acquisitions of China's state-owned enterprises and the general market mergers and acquisitions have some differences,this paper introduces the characteristics of state-owned enterprises is the government intervention,property boundary is not clear,the target is not clear,analyzes the merger motivation of state-owned enterprises.Then through the analysis of the financial risk theory and case study,put forward some financial risk control suggestions for mergers and acquisitions,mergers and acquisitions in the process of state-owned enterprises can reduce the risk of merger and acquisition of enterprises.The main contribution of this paper is to combine the BL company's actual case,in the background of the reform of state-owned enterprises in our country,for a more comprehensive and detailed analysis of various financial risk financial risk from the perspective of BL company encountered in the process of mergers and acquisitions,and to evaluate the control measures taken by BL company,and puts forward relevant suggestions.By the combined method of case and theory,combine theory with practice,truly the theory into practice,to solve practical problems,the validity and applicability of the results have also been validated,more easily from other state-owned enterprises,has a certain reference value.