互联网企业并购的财务风险研究——以美团并购摩拜为例

XCLW54364  互联网企业并购的财务风险研究——以美团并购摩拜为例  (字数：13028)

中文摘要

并购本质上是一种投资扩张活动。所有企业的发展途径中必然会面临各种风险与挑战，致使企业一度陷入瓶颈期，但是风险又兼具随机性、偶然性、客观存在性等各种典型特征，因此风险大多难以消除。任何一种类型的风险都会为企业并购的经济效益带来严重的影响，导致并购双方都会面临一定程度的人力物力资金等各个指标上的亏损，整体来说，对并购的作用是消极的。对互联网企业而言，并购双方企业应该及时发现、识别、规避、防控、规避并购所带来的财务风险，尽最大限度将财务风险降到最低，那么双方并购活动的成功率会大大提高。

本文结合文献综述，理论阐述和案例分析，以美团收购摩拜的并购事件为例，介绍了互联网并购的财务风险成因及类型和财务风险防范措施，分析评价美团企业在并购摩拜单车公司的过程中所面临的并购前期的预估风险、中期的融资风险、后期的整合风险等各项财务风险。最后得出结论。

关键词：美团； 摩拜； 并购； 互联网企业； 财务风险防范

abstract

M&a is essentially an investment expansion activity. All enterprises are bound to face various risks and challenges in their development paths, which cause enterprises to fall into a bottleneck period for a time. However, the risks are also characterized by randomness, contingency, objective existence and other typical characteristics, so most of the risks are difficult to eliminate. Any type of risk will have a serious impact on the economic benefits of the enterprise merger and acquisition, resulting in a certain degree of human resources, material resources, capital and other indicators of the loss of both sides of the merger, on the whole, the role of the merger is negative. For Internet enterprises, enterprises of both parties should timely discover, identify, avoid, prevent and control financial risks brought by merger and acquisition, try their best to minimize financial risks, and the success rate of merger and acquisition activities of both parties will be greatly improved.

In this paper, combining with literature review, theory and case analysis, Meituan for the worship of m&a events, for example, this paper introduces the Internet financial risk causes and types of m&a and measures to prevent financial risk, analysis and evaluation Meituan enterprise in the process of mergers and acquisitions mo worship the bike company merger of forecast risks faced by mid and late of financing risk, integration risk, etc. All kinds of financial risk. Finally draw a conclusion.

Key words: Meituan; Worship of moab; Mergers and acquisitions. Internet enterprises; Financial risk prevention

目录

1 绪论

1.1 选题背景及意义

1.1.1 研究背景

1.1.2 研究意义

1.2 文献综述

1.2.1 国外研究文献综述

1.2.2 国内研究文献综述

1.3 研究内容

1.4 研究方法

2 互联网企业并购的财务风险分析

2.1 互联网企业及其并购特征分析

2.1.1 互联网企业的财务特征

2.1.2 互联网企业的并购特征

2.2 互联网企业并购的财务风险类型

2.2.1 并购前的目标估值风险

2.2.2 并购中的融资支付风险

2.2.3 并购后的财务整合风险

3 案例分析：以美团并购摩拜为例

3.1 事例背景资料

3.2 案例分析

3.2.1 并购动因分析

3.2.2 财务风险分析

3.3 案例结论

4 互联网企业并购的财务风险的防范对策

4.1 并购前估值风险防控对策

4.1.1 结合战略选择目标企业

4.1.2 完善事前尽职调查

4.2 并购中融资支付风险对策

4.2.1 合理选择支付方式

4.2.2 提前筹措并购资金

4.3 并购后财务融合风险防控对策

4.3.1 重组财务组织机构

4.3.2 引入财务信息共享

5 结束语

参考文献