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论文编号：	14441
作者编号：	2320190485
上传时间：	2023/12/18 3:43:12
中文题目：	渤海租赁公司海外并购活动的融资策略优化研究
英文题目：	Optimization of Financing Strategy for Overseas M&A Activities of Bohai Leasing Company
指导老师：	薛有志
中文关键字：	海外并购;融资风险;风险评估;融资策略
英文关键字：	Overseas M&A; Financing Risk; Risk Identification; Risk Strategy
中文摘要：	随着经济实力的日益强大，我们必须转变以低成本为主导的市场竞争方式，寻找新的经济增长点，为企业提供持续成长的动力。我们国家通过“一带一路”和“走出去”的战略，推动了这一目标的达成。并购已经逐渐成为了企业开拓业务、寻求快速发展的重要途径。近年来，中国企业国际化视野不断扩大，越来越多的跨国并购行动上升到了日程。在进行海外并购的过程中，融资是至关重要的一环，而且整个过程中难免会产生一系列风险。一旦企业不能有效控制这些风险，就极可能导致财务行为和实际能力出现不匹配。如此一来，企业可能会付出沉重的代价，甚至最终走向破产。鉴于上述情况，积极研究和解决企业融资风险显得尤为关键。本文将致力于挖掘和识别企业进行境外并购融资的各类潜在风险，通过深入剖析、评估这些风险，制定出相应的控制对策。从而优化融资结构，避免由此产生的企业破产危机，让企业得以持续、健康的成长。 本文拟以渤海租赁公司为例，在梳理国内外关于境外并购融资风险的文献基础上，结合风险管理理论，识别渤海租赁公司在海外并购时所面临的内外两方面的融资风险，并使用F评分方法，对渤海租赁进行了识别和评估，指出渤海租赁融资策略存在的问题，并给出了相应的风险控制对策及融资策略优化建议。通过分析可以看出，渤海租赁在进行海外并购时，主要采用了债务融资为主、股权融资为辅、混合融资较少的策略。这种策略导致了其债务规模和债务负担不断增加、偿债能力和信用状况不断下降、融资结构不够多元化和灵活等问题。这些问题会给渤海租赁带来较大的财务风险和经营风险，并影响其在国内和国际市场上的竞争力和发展潜力。本文对渤海租赁公司提出了以下建议：优化财务结构，适当增加股权融资和混合融资；做好资金筹措和偿债计划；加强汇率、利率等外部因素的风险管理；注重国内市场上的发展机遇和潜力。 本文按照风险管理的过程，对渤海租赁进行了识别和评估，并给出了相的风险控制对策及融资策略优化建议，希望能引起其它公司的注意，从而提高对我国公司在海外并购过程中的融资风险的管理水平。
英文摘要：	With the increasing economic strength, we must change the market competition mode dominated by low cost, find new economic growth points, and provide continuous growth power for enterprises. Our country promotes the achievement of this goal through the “Belt and Road” and “going out” strategies. Mergers and acquisitions have become a way for enterprises to achieve rapid development. In these ways, overseas mergers and acquisitions can help enterprises quickly occupy a certain share in the international market, or help enterprises obtain more advanced technologies. In recent years, the international vision of Chinese enterprises has gradually expanded, and a large number of cross-border mergers and acquisitions have emerged. In the process of overseas mergers and acquisitions, financing is a very important part. Therefore, some risks will arise in the process of financing. If these risks cannot be effectively controlled, it may cause the financial behavior of enterprises to be inconsistent with their own capabilities, thus causing bankruptcy of enterprises. Therefore, it is necessary to study the financial risks of enterprises. Identify the financing risks of overseas mergers and acquisitions effectively, analyze and evaluate the identified risks, and formulate corresponding control measures for these risks, so that financing activities can get better and ensure that enterprises can develop better without causing bankruptcy crisis. This project intends to take Bohai Leasing Company as an example, combing through the literature on overseas mergers and acquisitions financing risk at home and abroad, combined with risk management theory, identify the internal and external aspects of Bohai Leasing Company in the acquisitions faced with financing risk, and use F score method to identify and evaluate Bohai Leasing Company, figure out the problem of financing strategy and give corresponding risk control measures and optimization of financing strategy. Through analysis, it can be seen that Bohai Leasing Company mainly adopts debt financing as the main strategy, equity financing as the auxiliary strategy, and mixed financing as less strategy in overseas mergers and acquisitions. This strategy leads to its debt scale and debt burden increasing continuously, debt repayment ability and credit status declining continuously, financing structure not diversified and flexible enough and other problems. These problems will bring great financial risk and operational risk to Bohai Leasing Company, and affect its competitiveness and development potential in domestic and international markets. This paper puts forward the following suggestions for Bohai Leasing Company: optimize financial structure, appropriately increase equity financing and mixed financing; do a good job of fund raising and debt repayment plan; strengthen risk management of external factors such as exchange rate, interest rate; pay attention to development opportunities and potential in domestic market. This paper identifies and evaluates Bohai Leasing Company according to the process of risk management, and gives corresponding risk control measures and optimization of financing strategy. It hopes to draw attention from other companies to the financing risk of Chinese companies in overseas mergers and acquisitions process, so as to improve the management level of financing risk of Chinese companies in overseas mergers and acquisitions process.
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