我国医药企业并购的财务风险及其防范

我国医药企业并购的财务风险及其防范

摘要

随着全球经济的一体化，并购在我国经济发展中扮演着愈加重要的角色。医药产业作为人民生活保障的基础之一，我国医药行业的整体现状是企业数目多、规模小、研发能力弱、市场占有率低等，经过一系列大规模的并购，将有助于我国医药行业走出当前资源分散和竞争力低下的困境。但各种统计研究又表明，我国医药企业并购的失败率一直居高不下。因此，对医药企业的并购风险进行分析并在此基础上提出相应的风险防范策略，将有助于我国医药企业规避并购风险，提高并购的成功率，从而提升我国医药企业整体竞争力。本文首先介绍企业并购财务风险的相关概述。第二，分析了我国医药企业并购的基本现状。包括我国医药企业发展现状、发展前景和并购现状三部分。第三，总结了我国医药企业并购财务风险的表现。第四，对我国医药企业并购存在的财务风险提出了防范措施。最后是结论部分，总结全文并得出研究的结论。

    关键词：医药企业 企业并购 财务风险 风险防范

Our country medicine enterprise mergers and acquisitions of financial risk and its prevention

Abstract

With the integration of the global economy, mergers and acquisitions play an increasingly important role in China's economic development. Pharmaceutical industry as one of the foundations of the people's livelihood security, the status quo of China's pharmaceutical industry as a whole is more than the number of enterprises, small scale, weak R & D capabilities, and low market share, after a series of large-scale mergers and acquisitions will help the pharmaceutical industry in China out of the current plight of scattered resources and low competitiveness. Various statistical studies show that the failure rate of mergers and acquisitions of pharmaceutical companies in China have been high. Therefore, the pharmaceutical enterprises M & A risk analysis and risk prevention strategies based on pharmaceutical enterprises in China will help to avoid M & A risk and improve the success rate of mergers and acquisitions, so as to enhance the overall competitiveness of China's pharmaceutical enterprises. This paper first introduces the overview of the mergers and acquisitions of financial risk. Second, the analysis of the basic status of China's pharmaceutical mergers and acquisitions. Including the development status of China's pharmaceutical enterprises, development prospects and acquisitions of the status quo of three parts. Third, it summarizes the performance of China's pharmaceutical mergers and acquisitions of financial risks. Fourth, the financial risk of China's pharmaceutical mergers and acquisitions precautions. Finally, the concluding section concludes the paper and come to the conclusion of the study.

Key words: Pharmaceutical enterprise Enterprise mergers and acquisitions Financial risk Risk prevention

目录

前言…………………………………………………………………………………1

一、企业并购财务风险的相关概述………………………………………………1

  （一）企业并购…………………………………………………………………1

 （二）财务风险…………………………………………………………………1

（三）企业并购的财务风险……………………………………………………3

二、我国医药企业并购的基本现状………………………………………………3

  （一）我国医药企业发展现状…………………………………………………3

  （二）我国医药企业未来的发展前景…………………………………………4

（三）我国医药企业并购现状…………………………………………………5

三、我国医药企业并购财务风险的表现…………………………………………7

  （一）目标企业价值评估偏差大………………………………………………7

  （二）融资渠道安排不合理……………………………………………………8

  （三）支付方式选择不当………………………………………………………8

  （四）财务整合难度大…………………………………………………………9

四、我国医药企业并购财务风险的防范措施……………………………………10

  （一）确定合理的并购目标，客观评估目标企业价值………………………10

  （二）拓展融资渠道，保证融资结构合理化…………………………………11

  （三）合理选择支付方式，实现并购支付方式多样化………………………11

  （四）有效进行财务整合，转移整合风险……………………………………12

结束语………………………………………………………………………………12

参考文献……………………………………………………………………………13

致谢…………………………………………………………………………………14