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论文编号：	14944
作者编号：	2320223838
上传时间：	2024/12/6 17:20:07
中文题目：	N银行并购贷款业务财务尽职调查优化研究
英文题目：	Research on the Optimization of Financial Due Diligence for N Bank''s Mergers and Acquisitions Loan Business
指导老师：	郝臣
中文关键字：	商业银行；并购贷款；财务尽职调查；哈佛分析框架
英文关键字：	Commercial Bank；Merger and Acquisition Loan Business；Financial Due Diligence；Harvard Analytic Framework
中文摘要：	在中国经济结构调整和产业升级的背景下，并购重组成为企业实现快速和可持续发展的关键策略。商业银行通过发展并购贷款业务，不仅推动了金融创新和提升了综合金融服务能力，也支持了实体经济发展。但随着资本市场的发展，开展并购贷款业务的复杂性和风险也在增加，这对商业银行在业务的调查、审查、审批和存续期管理等方面提出了更高的要求。财务尽职调查作为减少银行与借款人信息不对称的重要手段，对商业银行并购贷款业务的健康发展和风险防控具有关键作用。 本文通过选取N银行对ZY公司提供并购贷款的案例、研究财务尽职调查的国内外相关文献、总结财务尽职调查相关理论，梳理分析N银行对ZY公司开展财务尽职调查的流程和内容，运用信息不对称理论、委托代理理论、资源配置理论、哈佛分析框架理论四个方面，分析ZY公司与被并购方企业的整体情况，将分析的结果与财务尽职调查的结果进行对比，并结合文献研究结果发现N银行在该并购贷款业务财务尽职调查工作中存在的问题和存在问题的原因，根据尽职调查方法单一、尽职调查内容不全面、尽职调查程序执行不到位、对宏观环境和行业状况分析的缺失、尽职调查过程中的财务分析不深入、风险识别和潜在风险控制不足等问题以及存在这些问题的原因主要是信息获取有限且过度依赖支行、团队成员间沟通不畅、与企业沟通不全面、与信贷部门沟通不及时、团队缺乏积极性、团队成员专业能力不足以及监督不充分，提出调查团队在财务尽职调查过程中应在调查阶段全面调查并购双方的情况，同时完善财务报表的调查分析，判断盈利预测的合理性，进而判断还款能力的可靠性。 通过以上调查分析，目的是给商业银行财务尽职调查人员开展并购贷款业务提供一定的借鉴，帮助商业银行准确地进行业务决策，从而降低信贷风险。
英文摘要：	In the context of China's economic structural adjustment and industrial upgrading,mergers and acquisitions (M&A) have become a key strategy for enterprises to achieve rapid and sustainable development.Commercial banks,by developing M&A loan services,not only drive financial innovation and enhance comprehensive financial service capabilities but also support the development of the real economy.However,as the capital market evolves,the complexity and risks associated with conducting M&A loan business are increasing,which raises higher demands on commercial banks in terms of investigation,review,approval,and management during the life cycle of the business.Financial due diligence,as an important means to reduce information asymmetry between banks and borrowers,plays a crucial role in the healthy development and risk prevention of commercial banks' M&A loan business. This article selects the case of N Bank providing merger and acquisition (M&A) loans to ZY Company,researches the relevant domestic and international literature on financial due diligence,summarizes the theories related to financial due diligence,and analyzes the process and content of N Bank's financial due diligence for ZY Company.By employing four theoretical frameworks—the theory of information asymmetry,the principal-agent theory,the resource allocation theory,and the Harvard Analytical Framework—the article examines the overall situation of ZY Company and the company being acquired.It compares the results of this analysis with the outcomes of financial due diligence and,in conjunction with research from literature,identifies issues and their causes in N Bank's financial due diligence for the M&A loan business.The problems include a singular approach to due diligence,incomplete due diligence content,inadequate execution of due diligence procedures,a lack of analysis of the macroeconomic environment and industry conditions,superficial financial analysis during the due diligence process,and insufficient identification and control of risks.The causes of these issues are primarily limited information acquisition and excessive reliance on branch banks,poor communication among team members, incomplete communication with the company,untimely communication with the credit department,lack of enthusiasm in the team,insufficient professional capabilities among team members,and inadequate supervision of the financial due diligence business.The article proposes that the investigation team should conduct a comprehensive investigation of both the acquiring and target companies during the due diligence phase,and simultaneously improve the investigation and analysis of financial statements to assess the reasonableness of profit forecasts and,consequently,the reliability of repayment capacity. Through this investigation and analysis,the aim is to provide a reference for financial due diligence personnel in commercial banks undertaking M&A loan business,assisting commercial banks in making accurate business decisions,thereby reducing credit risk.
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