电子商务企业并购的财务风险研究

XCLW51258  电子商务企业并购的财务风险研究  (字数：13023)

中文摘要

全球经济化的时代中我国经济也快速发展、信息技术相互学习进步，资源获取途径以及业务往来范围与日俱增。电子商务企业出现在经济市场并且迅速占领经济市场一部分，随着技术以及管理的逐渐成熟与完善，电子商务企业市场占有额迅猛扩大。在市场占有额的扩大过程中，企业并购成为提高竞争能力和形成规模经济的快速有力途径。在企业并购活动中，经济市场中普遍存在信息不对称、不确定性以及并购过程中存在的财务风险直接决定企业并购活动的最终结果能否成功。

本文首先用专业术语来来解释企业并购过程中存在的各种财务风险，然后以电子商务企业整个行业对并购活动中财务风险进行分析。最后以上述理论为基础，选取阿里巴巴企业收购“饿了么”集团的案例，深入分析电子商务企业收购过程中遇到的财务风险问题。

本文以案例分析的形式，对我国电子商务企业并购活动中分析防控财务风险提出一些建议，为电子商务企业以后并购活动中处理财务风险添砖加瓦。

关键词：电子商务；企业并购；财务风险

Chinese abstract

In the era of global economy,China's economy is also developing rapidly,information technology is learning from each other,resource access and business scope are increasing day by day.E-commerce enterprises appear in the economic market and quickly occupy a part of the economic market.With the gradual maturity and improvement of technology and management,the market share of e-commerce enterprises has expanded rapidly.In the process of expanding market share,M&A has become a fast and powerful way to improve competitiveness and form scale economy.In M&A activities,information asymmetry,uncertainty and financial risk in the process of M&A in the economic market directly determine whether the final results of M&A activities can be successful.

In this paper,we first use professional terms to explain the various financial risks in the process of M&A,and then analyze the financial risks in M&A activities in the whole industry of e-commerce enterprises.Finally,based on the above theory,this paper selects the case of Alibaba's acquisition of"hungry"group,and analyzes the financial risk problems encountered in the process of e-commerce enterprise acquisition.

In the form of case analysis,this paper puts forward some suggestions on the analysis and prevention of financial risks in the M&A activities of e-commerce enterprises in China,which will contribute to the handling of financial risks in the future M&A activities of e-commerce enterprises.

Keywords:E-commerce;M&A;financial risk

目录

1 绪论1

2相关概念概述1

2.1 企业并购1

2.2 财务风险1

3电子商务企业并购财务风险分析2

3.1定价风险2

3.2支付风险和融资风险2

3.3整合风险3

4 阿里巴巴并购饿了么案例分析3

4.1 并购双方企业背景3

4.1.1 阿里巴巴企业背景介绍3

4.1.2 饿了么企业背景介绍4

4.2 阿里巴巴集团并购动因4

4.2.1提高外卖市场竞争力4

4.2.2获得协同效应和规模经济5

4.3“饿了么”集团动因6

4.3.1获得未来发展的足够资金6

4.3.2增强市场竞争力6

4.4 并购过程中的财务风险分析6

4.4.1并购前期对“饿了么”的定价风险分析6

4.4.2并购过程融资风险和支付风险分析8

4.4.3并购之后企业的整合风险分析10

4.5 阿里巴巴并购“饿了么”财务风险的处理措施11

5 对电子商务行业企业并购财务风险的建议12

5.1 案例结论12

5.2 电子商务企业并购财务风险建议12

结论13

参考文献14