企业海外并购财务风险研究及防范企业海外并购财务风险研究及防范以海尔并购通用家电为例摘要我国经济得到稳定发展，也开始进入全球中心。而我国的企业也紧跟着国家的步伐，意图在国际上大展身手。企业走向国际的方式主要有两种，一种就是自身产品外销，另一种就是并购海外企业，使海外产品转变成为自身产品。本文所探究的案例是到现在为止，我国家电业行业规模最大的海外并购，海尔并购通用电气的家电业务。查阅许多文献资料发现，国内大多的并购研究方向依旧停留在国内并购，对国内企业海外并购则是涉猎不多。因此本篇论文在综合并购理论以及并购财务风险的基础上，结合国内企业进行海外并购的现状，就海尔并购通用家电这一事件讨论关于我国企业并购海外企业所存在的风险、导致风险的因素以及防范财务风险的方法。本文为国内公司参加海外并购的财务风险控制提出具备可执行性以及量化性的方式，具备较高的借鉴价值。关键词：海外并购，财务风险，风险管控，中国海尔集团企业海外并购财务风险研究及防范The financial Risk Research and Preventive measure ofoverseas mergers and acquisitions—Based on Haier'soverseas mergers and acquisitionsAbstractWith rapid economic development,China become the center of the world gradually.TheChinese enterprises also follows the step of the national policy,and want to push themselvesforword.There are two main ways for companies to have a place in internation,one is to sell theirproducts abroad,the other way is to buy the overseas companies,so that ehr overseas productsbecome their own products.The example analysed in this paper are the largest overseasacquisition by China's home power industry,Haier,of General Electric's home appliances.According to many literatures,most of the research directions of domestic mergers andacquisitions is still domestic mergers and acquisitions,but not many domestic enterprisesoverseas acquisitions and acquisitions.On the basis of the theory of comprehensive merger andacquisition and the financial risk of merger and acquisition,combined with the present situationof domestic enterprises,this paper discusses the risks,factors that lead to risks and the ways toprevent financial risks in the case of Haier's acquisition of general appliances.This paperprovides a strong operational and quantitative method for the financial risk control of Chineseenterprises participating in overseas mergers and acquisitions,and has certain reference value.Key words:overseas mergers and acquisitions,financial risk,risk management,China HaierGroup企业海外并购财务风险研究及防范目录摘要Abstract ...一、绪论二、我国企业并购概况…(一)企业并购的含义.…(二)企业并购的财务风险概述3(三)中国企业海外并购概况…31.中国企业海外并购现状…32.家电企业海外并购现状…3.海尔并购案概况三、海尔并购案的潜在财务风险分析(一)并购前分析.1.法律风险2.财务风险…6(二)并购过程分析.…71.并购融资财务风险72.竞争风险…(三)并购结果分析…1.支付方式82.负债累计…8(三)购后管理分析…1.购后整合管理…92.购后人员管理…9四、海尔并购案的财务风险来源9(一)信息不对称…9(二)评估体系尚未健全.10(三)财务预警管理系统不完善…10(四)管理控制不到位….10五、中国企业海外并购的财务风险防范管理(一)改善信息不对称…(二)建立健全评估完整体系…(三)建立财务预警管理系统….111.制定科学合理的资金管理制度11