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Study on the Choice of Corporate M & A Financing Method of Our Country

Author: TianMeiHua
Tutor: GuoZeGuang
School: Shanxi University of Finance
Course: Accounting
Keywords: M \u0026 A M \u0026 A financing Financing methods Countermeasure
CLC: F275
Type: Master's thesis
Year: 2010
Downloads: 525
Quote: 2
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Abstract

The enterprise microscopic elements to support the economic growth of a country, and numerous corporate growth is good or bad is related to the colossal task. Mergers and acquisitions as an important part of corporate economic activity, and an increasingly high-profile. With the development of the globalization of the world economy and China's accession to the WTO, China's merger and acquisition activity reached unprecedented climax. From the macro-management perspective, future acquisitions will continue to serve as the primary means to adjust the structure of the national economy and promote the strategic restructuring of state-owned economy. From the development of corporate strategy, both for private enterprises and state-owned enterprises, mergers and acquisitions will enhance competitiveness and achieve sustainable development external strategic approach to development. Acquisition finance is the most important in the process of mergers and acquisitions, it directly determines the status of the source of funds and the efficiency of capital utilization, and played a key role in the success or failure of mergers and acquisitions. Compared with Western countries, the late start of China's market economy, financial instruments is relatively backward, underdeveloped capital markets, the alternative financing mergers and acquisitions is still very limited, severely limit the behavior of corporate mergers and acquisitions. Therefore the study of mergers and acquisitions and financing issues with the urgency of a strong and profound practical significance. This paper first introduces Research acquisition finance at home and abroad and the ideas and methods; second section describes some of the basic theory, such as the definition of mergers and acquisitions, and motivation, the concept of acquisition finance, mergers and acquisitions financing classification and respective characteristics and comparative analysis of mergers and acquisitions in Western financing way application status based on the respective acquisition finance in our application characteristics; third part analyzes the influencing factors of the M \u0026 A financing options, trying to explore the general M \u0026 suited to China's national conditions mode of financing model Subsequently, through a typical case, the above theory specific application; fourth part of the problem restricting China's M \u0026 A financing options, and for a variety of issues targeted suggestions. M \u0026 A Financing and compared to Western companies, Chinese enterprises can choose application is also very limited, also did not take advantage of the many advanced mode of financing. M \u0026 A business in the current capital market development constraints and financial regulators should be based on China's specific conditions for the development and innovation of existing financing, to learn from Western experience of corporate mergers and acquisitions financing based on the choice of financing, according to the situation of an enterprise way to arrange the financing structure, reasonable control financing risks, to ensure the smooth completion of the acquisition finance and the whole M \u0026 A project.

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