本文選題：跨國(guó)并購(gòu)　切入點(diǎn)：融資策略　出處：《湘潭大學(xué)》2014年碩士論文　論文類型：學(xué)位論文

【摘要】：隨著經(jīng)濟(jì)發(fā)展水平的不斷提升，經(jīng)濟(jì)全球化正日益加劇，企業(yè)之間的競(jìng)爭(zhēng)也越來(lái)越激烈。為了獲得企業(yè)的長(zhǎng)遠(yuǎn)發(fā)展，提升自身的國(guó)際競(jìng)爭(zhēng)力，越來(lái)越多的企業(yè)開(kāi)始走出國(guó)門(mén)，開(kāi)辟國(guó)外市場(chǎng)，參與國(guó)際分工，而跨國(guó)并購(gòu)則是參與國(guó)際分工的一種重要表現(xiàn)形式�？鐕�(guó)并購(gòu)對(duì)于并購(gòu)方企業(yè)來(lái)說(shuō)既是一種機(jī)遇，也是一種挑戰(zhàn)。一次成功的跨國(guó)并購(gòu)，可以使企業(yè)獲得所需的國(guó)際資源，增加企業(yè)的價(jià)值，提升其行業(yè)地位，，獲得規(guī)模效應(yīng)，促進(jìn)企業(yè)的可持續(xù)發(fā)展。而在一次跨國(guó)并購(gòu)中，融資情況的好壞是跨國(guó)并購(gòu)成功與否的關(guān)鍵。由于2009年XX公司并購(gòu)Y公司是跨國(guó)并購(gòu)案例中的一個(gè)典型代表，是屬于國(guó)內(nèi)民營(yíng)企業(yè)跨國(guó)并購(gòu)的行為，在跨國(guó)并購(gòu)成功案例還不是很多的前提下，研究XX公司的這次并購(gòu)融資情況是很有必要的，希望能對(duì)我國(guó)企業(yè)的跨國(guó)并購(gòu)起到一定的借鑒意義。 文章首先介紹了選題的背景，了解了該領(lǐng)域的國(guó)內(nèi)外動(dòng)態(tài)，介紹了跨國(guó)并購(gòu)融資的相關(guān)理論；然后介紹了并購(gòu)案例的國(guó)內(nèi)外背景、并購(gòu)的動(dòng)因與并購(gòu)的過(guò)程；接著重點(diǎn)對(duì)XX企業(yè)的融資策略進(jìn)行了研究，主要從并購(gòu)的資金需求、盡職調(diào)查、并購(gòu)的支付方式、融資安排、融資效果與融資風(fēng)險(xiǎn)這六個(gè)方面展開(kāi)分析；最后，根據(jù)對(duì)XX公司并購(gòu)案例的研究，得出了文章的結(jié)論；同時(shí)，分別從企業(yè)和政府的角度提出了相關(guān)的啟示，為我國(guó)企業(yè)的跨國(guó)并購(gòu)融資提供了參考。 本文的研究貢獻(xiàn)在于，在跨國(guó)并購(gòu)活動(dòng)日益繁華但國(guó)內(nèi)外對(duì)跨國(guó)并購(gòu)的案例研究還比較少的情況下，利用案例研究方法，著重分析XX公司并購(gòu)Y公司案例的融資策略，總結(jié)其成功的融資經(jīng)驗(yàn)，最后還分別從企業(yè)和政府的角度提出了相關(guān)的啟示，為我國(guó)企業(yè)在以后的跨國(guó)并購(gòu)中提供了借鑒意義。
[Abstract]:As the level of economic development continues to improve, economic globalization is intensifying day by day, and the competition among enterprises is becoming more and more intense. In order to obtain the long-term development of enterprises and enhance their international competitiveness, more and more enterprises have begun to go abroad. Opening up foreign markets and participating in international division of labor, while transnational M & A is an important manifestation of participation in international division of labor. Transnational M & A is both an opportunity and a challenge for M & A enterprises. Can enable enterprises to obtain the necessary international resources, increase the value of enterprises, enhance their industry status, achieve scale effect, promote the sustainable development of enterprises. In 2009, XX Company M & A Y Company is a typical representative of cross-border M & A cases, which belongs to the behavior of domestic private enterprises. Under the premise that there are not many successful cases of transnational M & A, it is necessary to study the situation of M & A financing of XX Company, and hope to play a certain reference significance to the transnational M & A of Chinese enterprises. The paper first introduces the background of the topic, understands the domestic and foreign trends in this field, and introduces the relevant theories of cross-border M & A financing, then introduces the domestic and foreign background of M & A cases, the motivation of M & A and the process of M & A. Then it focuses on the financing strategy of XX enterprise, mainly from six aspects: capital demand, due diligence, payment method, financing arrangement, financing effect and financing risk. According to the case study of M & A of XX Company, this paper draws the conclusion of the article, and at the same time, puts forward the relevant enlightenment from the angle of the enterprise and the government respectively, which provides the reference for the transnational M & A financing of the enterprises of our country. The contribution of this paper is that, under the circumstance that cross-border M & A activities are becoming more and more prosperous but the case studies on cross-border M & A at home and abroad are still relatively few, the case study method is used to analyze the financing strategy of M & A Y case of XX Company. This paper summarizes its successful financing experience, and finally puts forward the relevant enlightenment from the angle of enterprise and government respectively, which provides reference significance for our country's enterprises in the future cross-border M & A.
【學(xué)位授予單位】：湘潭大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2014
【分類號(hào)】：F416.471;F271;F406.7

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