联系我们

论文查询结果	返回搜索

论文编号：	14948
作者编号：	2320224004
上传时间：	2024/12/6 18:09:00
中文题目：	T公司并购重组中的公司治理改进研究
英文题目：	Research on Corporate Governance Improvement in the Merger and Acquisition of T Company
指导老师：	古志辉 教授
中文关键字：	并购重组；公司治理；风险管理；信息披露
英文关键字：	Mergers and Acquisitions；Corporate Governance；Risk Management；Information Disclosure
中文摘要：	现如今地缘政治摩擦不断，全球经济挑战重重，市场竞争越发激烈。此背景下并购重组越来越成为众多企业想要实现快速扩张、进行优化资源配置和快速提升市场竞争力的重要手段。同时目前中国的经济已经进入到了转型升级的攻坚阶段，我国企业也竞相选择通过并购重组来应对市场变化和抓住行业机遇。然而并购重组过程中企业常常面临远超日常经营时的公司治理挑战，尤其是在中国市场环境下，政策变动、市场波动以及文化差异等因素的影响使得治理问题更加突出。而众多研究表明有效的公司治理能够帮助企业平稳过渡降低风险，实现长期可持续发展。 本研究基于T公司并购重组的案例，深入分析了公司在治理过程中的问题，提出了相应的改进策略。本论文简要介绍了包括公司治理理论、并购重组理论、风险管理理论、委托代理理论和利益相关者理论相关的理论框架，为后续本文的具体案例分析奠定了理论基础。通过对T公司并购重组实际情况的深入分析，研究发现其在公司治理结构、信息披露透明度连同利益相关者管理等方面存在一定问题。T公司董事会与管理层的职责划分不清导致重大事项的决策效率低下；信息披露虽然合法合规但是不够充分难以满足广大投资者的实际需求；风险管理体系不够完善增加了企业日常经营的不确定性；利益相关者管理存在不足使得公司与众多利益相关者的沟通有所欠缺。这些问题不仅影响了并购重组的效率还对公司后续的长期发展带来了风险。针对以上问题本研究提出了以下几个改进策略，它们分别是优化公司治理结构、提升风险管理水平、增强信息披露透明度以及努力提高利益相关者管理等。 综上所述，本研究不仅为T公司未来的公司治理改进和并购重组中的整合提供了具体建议，还为其他企业在并购重组中的治理优化提供了真实的参考依据。本研究的结果也将为政策制定者和监管机构提供实证依据以进一步完善企业并购重组的政策环境，促进中国资本市场的持续健康发展。
英文摘要：	In today's environment of ongoing geopolitical friction and substantial global economic challenges, market competition has become increasingly intense. Against this backdrop, mergers and acquisitions (M&A) have become a critical means for many companies to achieve rapid expansion, optimize resource allocation, and enhance market competitiveness. At the same time, China's economy has entered a crucial stage of transformation and upgrading. Chinese companies are increasingly choosing M&A as a strategy to respond to market changes and seize industry opportunities. However, during the M&A process, companies often face governance challenges that go beyond what they encounter in normal business operations. Particularly in the Chinese market, the impact of policy changes, market fluctuations, and cultural differences further accentuates these governance challenges. Many studies have demonstrated that effective corporate governance can help companies manage these transitions smoothly, mitigate risks, and achieve long-term sustainable development. This study, using T Company’s M&A as a case, conducts an in-depth analysis of governance-related issues and offers targeted improvement strategies. It first outlines theoretical frameworks—including corporate governance, M&A, risk management, agency, and stakeholder theories—as a basis for case analysis. By closely examining T Company's M&A practices, this study identifies several governance issues, such as ambiguities in the governance structure, inadequacies in information disclosure, and challenges in stakeholder relations. For instance, unclear roles between the board and management have hindered efficient decision-making in significant matters; information disclosure, though legally compliant, fails to meet investor demands; and gaps in risk management heighten uncertainties in daily operations. Additionally, weaknesses in stakeholder engagement have led to inadequate communication, particularly with key stakeholders, impacting the company’s M&A process and longer-term growth prospects. To address these challenges, this study proposes four key strategies: refining corporate governance structures, enhancing risk management practices, increasing transparency in information disclosure, and improving stakeholder engagement. Specifically, T Company should clarify the division of responsibilities between the board and management to enable more transparent and effective decision-making. Establishing a robust risk management system will allow the company to better handle financial and operational risks. In terms of information disclosure, T Company should strive for greater transparency while adhering to regulatory requirements, ensuring timely, accurate, and comprehensive communication with the market and investors. Furthermore, by enhancing stakeholder relations through consistent communication practices, T Company can foster stronger trust and a more stable market position. In conclusion, this study provides actionable recommendations for T Company’s governance improvements and post-M&A integration. It also serves as a practical reference for other companies pursuing governance optimization during M&A. Moreover, the findings offer useful insights for policymakers and regulators, helping to shape a more supportive policy environment for corporate M&A and contributing to the sustainable development of China’s capital markets.
查看全文：	预览  下载(下载需要进行登录)