論企業(yè)并購(gòu)融資中的障礙 


 

第 II 頁(yè) 目 錄 目 錄 ............................................................................................................................................. II 摘 要 ............................................................................................................................................III Abstract ......................................................................................................................................... IV 1 我國(guó)企業(yè)并購(gòu)中融資風(fēng)險(xiǎn)分析 ............................................................................................... 1 1.1 資金的支付方式、時(shí)間和數(shù)量安排不合理 ................................................................ 1 1.2 融資渠道過(guò)于單調(diào) ........................................................................................................ 2 1.3 投資銀行媒介作用的弱化 ............................................................................................ 3 1.4 對(duì)國(guó)際融資中詐騙行為的忽視 .................................................................................... 3
1.5 對(duì)匯率變動(dòng)風(fēng)險(xiǎn)分析力度不足 .................................................................................... 3
2 我國(guó)企業(yè)并購(gòu)融資中的障礙與解決思路 ............................................................................... 4 2.1 我國(guó)企業(yè)目前并購(gòu)融資中的障礙 ................................................................................ 4 2.2 現(xiàn)階段可行而合法的并購(gòu)融資新途徑 ........................................................................ 6 2.3 清除并購(gòu)融資障礙的重要政策 .................................................................................... 7 結(jié)束語(yǔ) ............................................................................................................................................. 8 參考文獻(xiàn) ......................................................................................................................................... 9 ××技術(shù)學(xué)院學(xué)年論文
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第 III 頁(yè) 摘 要 并購(gòu)是企業(yè)進(jìn)行資本擴(kuò)張的重要和有效手段,而融資問(wèn)題又是企業(yè)并購(gòu)成功與否的
瓶頸.目前我國(guó)企業(yè)并購(gòu)中,銀行貸款因政策和經(jīng)營(yíng)層面約束而支持有限,股權(quán)融資與債
券融資受政策和制度限制障礙重重,而以衍生產(chǎn)品為主的金融創(chuàng)新因環(huán)境制約難以有效
開(kāi)展,企業(yè)并購(gòu)融資行為受到極大的制約.伴隨新的一輪并購(gòu)浪潮重新掀起,要求我們完
善并創(chuàng)新股權(quán)融資渠道,重視培育和發(fā)展債券市場(chǎng),構(gòu)建并購(gòu)基金,充分利用投資銀行等
金融中介機(jī)構(gòu)的專業(yè)性服務(wù),積極開(kāi)創(chuàng)新的并購(gòu)融資方式。
關(guān)鍵詞?企業(yè)并購(gòu) 并購(gòu)融資 委托貸款 信托融資

××技術(shù)學(xué)院學(xué)年論文
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第 IV 頁(yè) Abstract Merger and acquisition is the enterprise carries on the capital to expand the important and
effective means, and the financing problem is the bottleneck of enterprise merger and
acquisition success. At present our country enterprise M & A, bank loan for policy and
management level constraints and limited support for equity financing and bond financing,
policy and system restriction and obstacles, and with the financial derivatives innovation due
to environmental constraints difficult to effectively, the enterprise and buys the financing
behavior is greatly restricted. With the new round merger and acquisition tide to lift, requires
us to improve and innovate the equity financing channels, pay attention to the cultivation and
development of the bond market, make full use of construction fund mergers and acquisitions,
investment banks and other financial intermediaries and professional services, and actively
open innovation mergers and acquisitions financing.
Key words: enterprise M & A Merger and acquisition financing Entrust loans Trust
financing
××技術(shù)學(xué)院學(xué)年論文
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