Research On Risk Evaluation Of Enterprise M&A

Since the 21 st century,corporate competition has gradually intensified,mergers and acquisitions is one of the best ways to improve the competitiveness of enterprises.More and more enterprises choose the way of mergers and acquisitions to expand the scale of enterprises and increase the opportunities and profits of enterprises.But at the same time,mergers and acquisitions will bring huge risks to enterprises,previous studies have found that only a few companies have been succeed through mergers and acquisitions.Therefore,the identification and evaluation of mergers and acquisitions risk is of great importance to the decision-makers.Through the identification and evaluation of mergers and acquisitions risks,enterprise manager can make the best mergers and acquisitions choices,helping companies to enhance their overall strength with the lowest risk.First of all,through the relevant literature at home and abroad,grasping the current situation of Chinese mergers and acquisitions risk research,and analyzing Chinese enterprise mergers and acquisitions risk management problems.This paper expounds the related concepts of mergers and acquisitions risk and the related theoretical basis of mergers and acquisitions risk evaluation.On this basis,construct the index system of enterprise mergers and acquisitions risk evaluation from the three stages of pre-merger,merger and post-merger.Select eleven evaluation indicators,through the establishment of analytic hierarchy process evaluation model,the risk of merger is modeled,the weight of each index layer is calculated and the consistency is checked.Through the analysis of the mode and comprehensive evaluation method to determine the importance of enterprise risk factors,and then determine the overall risk level of merger transactions to help enterprise manager to make the best judgment.Finally,this paper combines the specific case of Zhonghong Stock mergers and acquisitions A&K Company,and uses the risk evaluation index system to evaluate and analyze the risk in the process of Zhonghong Stock mergers and acquisitions A&K Company,the paper measures the risk grade of merger and verifies the effectiveness and operability of the mergers and acquisitions risk evaluation index system.In the case analysis,it can be found that mergers and acquisitions decision-making risk and financial affordability risk account for a higher proportion of risk,and enterprises need to pay more attention to prevention.For multinational mergers and acquisitions companies,business and cultural integration can not be ignored.This paper provides enlightenment and reference on how to carry out risk identification and risk evaluation in mergers and acquisitions of Chinese enterprises,the risk evaluation index system of mergers and acquisitions has certain practical significance for grasping the risk of mergers and acquisitions.Through the overall grasp of mergers and acquisitions risks,it can help corporate manager to make the best choice and improve the success rate of mergers and acquisitions.