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论文编号：	11622
作者编号：	2220160807
上传时间：	2020/6/10 10:08:58
中文题目：	S钢铁公司并购与重组的风险管理
英文题目：	Risk Management of Merger & Acquisition and Reorganization of S Steel Corporation
指导老师：	王永进
中文关键字：	并购；重组；风险管理
英文关键字：	Merge & Acquisition (M&A)；Re-organization；Risk Management
中文摘要：	本文以S钢铁公司并购和重组为案例来研究钢铁企业在并购和重组过程中的风险管理。通过分析S钢铁公司在并购于重组过程中存在的风险和其在规避风险方面所采取的措施，给钢铁企业在未来并购和重组中如何规避风险提供思路。 本文首先在全球钢铁行业的背景下，研究了S钢铁公司的发展历程和现状，提出了本文要研究问题和研究方法，明确了本文的理论意义和现实意义。第二，论文详细阐述了并购重组及风险的概念，并购的形式和动因，重组的目的及方法，风险的特征以及企业并购重组过程中存在的财务风险、选择并购企业的风险、信息不对称风险以及经营风险等风险类型。随后论文以S钢铁公司的重要战略并购为例，详细分析了S钢铁公司进行并购过程中存在的风险以及采取的风险管理措施。第三，论文结合S钢铁公司并购后重组的情况，研究了其所面临的企业文化差异风险、业务创新风险以及竞争风险等三种经营风险。论文特别研究了S钢铁公司的耐磨产品在终端市场上的战略创新情况、为了规避风险所采取的措施以及在实施过程中仍然存在的风险问题。其中，结合其产品的特点，在全球推广耐磨产品中心这种全新的战略上，值得我们广大钢铁企业思考和借鉴。另外发展耐磨产品中心本身是S钢铁公司规避战略风险的一种措施；然而在其发展过程存在的诸多风险，也说明了风险的多面性。 论文的最后还结合S公司的并购、重组以及规避风险的情况，分析了目前钢铁企业并购重组过程中普遍存在的风险问题。同时提出了钢铁企业并购和重组应以客观事实为基础、以法律法规为依据，从而客观、合理的评估并购重组过程中的风险，凭借集体智慧规避风险和进行风险管理的建议。
英文摘要：	This thesis takes the merger & acquisition (M&A) and reorganization of S Steel Corporation as an example to study the risk management of steel enterprises in the process of M&A and reorganization. Through the analysis of the risks in the process of M&A and reorganization of S Steel Corporation and the measures taken by S Steel Corporation to avoid risks, this thesis provides ideas for iron & steel enterprises to avoid risks in future M&A and reorganization. Firstly, under the background of global steel industry, this thesis studies the development process and current situation of S Steel Corporation, puts forward the research questions and methods, and clarifies the theoretical and practical significance of this thesis. Secondly, the thesis elaborates the concept of M&A, reorganization and risk, the form and motivation of M&A, the purpose and method of reorganization, the characteristics of risk, the financial risk in the process of M&A, the risk of selecting M&A target, the risk of information asymmetry, the risk of operation, etc. Then, taking the important strategic M&A of S Steel as an example, the thesis analyzes in detail the risks in the M&A process of S Steel and the measures of risk management. Next, combined with the situation after the M&A and reorganization of S Steel, the thesis studied the three operating risks such as enterprise culture deference risk, business innovation risk and competitive risk. In particular, this thesis studies the strategic innovation of S Steel's wear-resistant products in aftermarket, the measures taken to avoid risks and the still existed risks in the implementation process. Among them, with the characteristics of its products, the global promotion of wear-resistant products center this brand as new strategy, is worth our many steel enterprises to think and learn from S Steel. In addition, the development of the wear-resistant product center itself is a measure for S Steel to avoid strategic risks. However, there are many risks in its development process, which also illustrate the diversity of risks. At the end of the thesis, combined with the situation of S Steel's M&A, reorganization and risk avoidance, the thesis analyzes the common risk problems in the process of M&A and reorganization of steel enterprises. At the same time, it is proposed that the M&A and reorganization of steel enterprises should be based on objective facts, based on laws and regulations, so as to objectively and reasonably assess the risks in the process of M&A and reorganization, rely on team wisdom to avoid risks and conduct risk management.
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