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论文编号：	3057
作者编号：	2120082631
上传时间：	2011/5/20 8:22:36
中文题目：	C集团收购S公司后财务整合问题及措施研究
英文题目：	After the C group purchases the S Corporation''s financial conformity question and the measure research
指导老师：	黄福广
中文关键字：	并购,财务资源,财务整合
英文关键字：	Mergers and acquisitions,Financial Resources,Financial Integration
中文摘要：	随着全球化的不断深入，并购已经成为企业发展壮大，产业调整的必然之路。在中国，以获取企业经营控制权为直接目的的产权交易活动日益成为社会关注的焦点。兼并收购已经成为企业实现战略目标的重要手段。尤其近几年，民营企业并购国有企业已经成为推进国有企业改革和民营企业快速发展的一个重要途径，对搞活国有企业、发展民营企业，促进资源优化配置和产业结构调整具有非常重要的意义。但是，权威机构调查数据显示，有近80%的企业并购并未达到其最初设立的目标，并购协同效应并不理想。 文章对C集团收购S公司财务整合的背景、实施过程与总体绩效进行了透视与评价。并以此为基础对整合过程中遇到的问题进行研究，试图找出这些问题产生的原因，并提出解决方案。文章认为，C集团“自我发展同时兼并收购”的战略是正确的，其对S公司的收购到目前为止是基本成功的。其并购整合的七大措施是有效的，C集团的整体业绩有了显著提升。但并购整合的子项目财务整合还是存在一些问题。产生这些问题的原因是多方面的，主要有企业所有制差异和整合管理不力两方面的原因：企业所有制差异引起的政府（国企）行为异化行为对并购财务整合的阻碍作用；对并购整合尤其财务整合重视程度不够，忽视核心竞争力的培养，忽视企业文化对财务整合的影响等。在造成这些原因的基础上，文章还提出了解决问题的对策：并购中处理好和政府的关系，重视并购中的财务整合，组建专家型并购整合工作小组，强化并购后企业核心竞争力的培养，重视文化整合，锻造企业并购引擎核心竞争力。
英文摘要：	With the deepening of globalization, mergers and acquisitions have become the enterprise development and growth, industrial restructuring and the inevitable path. In China, for business purposes as direct control of the property transactions are increasingly becoming the focus of attention. Mergers and acquisitions have become an important means to achieve strategic objectives. Especially in recent years, private enterprises have become the state-owned enterprises mergers and acquisitions of state-owned enterprise reform and promote the rapid development of private enterprises is an important means for state owned enterprises, development of private enterprises, and promote optimal allocation of resources and industrial restructuring has very important significance. However, authorities survey data show that nearly 80% of M & A did not reach its initial set of objectives, M & A synergistic effect is not satisfactory. Article on the acquisition of S C Group financial integration of the basic background, with the overall performance of the implementation process and evaluation of perspective. And based on the integration problems encountered during the study to find out the causes of these problems and propose solutions. Article says, C group "self-development while mergers and acquisitions "strategy is correct, the company's acquisition of its Sis the basic success so far. The merger integration of the nine measures are effective, C group had significantly improved overall performance. However, the sub-merger integration or financial integration, there are some problems. These problems are many reasons, the main difference between corporate ownership and management of poor integration of two reasons: 1, due to the difference of enterprise ownership "Government behavior alienated " Financial Integration of M & impediment. 2, the merger integration of financial integration is not enough emphasis in particular, neglect the cultivation of core competitiveness, ignoring corporate culture, the impact of financial integration. In the result, based on these reasons, the paper also proposed solutions to this problem: M & A deal and the government, emphasis on mergers and acquisitions of financial integration, the formation of expert-type "M & A Integration Working Group ", and strengthen the core competitiveness of the enterprise after merger Training, attention to cultural integration, forging mergers and acquisitions engine core competitiveness. Finally, the paper proposes the acquisition of S C Group extended the value of financial integration.
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