论企业并购融资中的障碍 论文.pdf
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论企业并购融资中的障碍 论文,论企业并购融资中的障碍第 ii 页 目 录 目 录 .........................................................................................................................................
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论企业并购融资中的障碍
第 II 页 目 录 目 录 ............................................................................................................................................. II 摘 要 ............................................................................................................................................III Abstract ......................................................................................................................................... IV 1 我国企业并购中融资风险分析 ............................................................................................... 1 1.1 资金的支付方式、时间和数量安排不合理 ................................................................ 1 1.2 融资渠道过于单调 ........................................................................................................ 2 1.3 投资银行媒介作用的弱化 ............................................................................................ 3 1.4 对国际融资中诈骗行为的忽视 .................................................................................... 3
1.5 对汇率变动风险分析力度不足 .................................................................................... 3
2 我国企业并购融资中的障碍与解决思路 ............................................................................... 4 2.1 我国企业目前并购融资中的障碍 ................................................................................ 4 2.2 现阶段可行而合法的并购融资新途径 ........................................................................ 6 2.3 清除并购融资障碍的重要政策 .................................................................................... 7 结束语 ............................................................................................................................................. 8 参考文献 ......................................................................................................................................... 9 ××技术学院学年论文
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第 III 页 摘 要 并购是企业进行资本扩张的重要和有效手段,而融资问题又是企业并购成功与否的
瓶颈.目前我国企业并购中,银行贷款因政策和经营层面约束而支持有限,股权融资与债
券融资受政策和制度限制障碍重重,而以衍生产品为主的金融创新因环境制约难以有效
开展,企业并购融资行为受到极大的制约.伴随新的一轮并购浪潮重新掀起,要求我们完
善并创新股权融资渠道,重视培育和发展债券市场,构建并购基金,充分利用投资银行等
金融中介机构的专业性服务,积极开创新的并购融资方式。
关键词?企业并购 并购融资 委托贷款 信托融资
××技术学院学年论文
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第 IV 页 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
××技术学院学年论文
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第 II 页 目 录 目 录 ............................................................................................................................................. II 摘 要 ............................................................................................................................................III Abstract ......................................................................................................................................... IV 1 我国企业并购中融资风险分析 ............................................................................................... 1 1.1 资金的支付方式、时间和数量安排不合理 ................................................................ 1 1.2 融资渠道过于单调 ........................................................................................................ 2 1.3 投资银行媒介作用的弱化 ............................................................................................ 3 1.4 对国际融资中诈骗行为的忽视 .................................................................................... 3
1.5 对汇率变动风险分析力度不足 .................................................................................... 3
2 我国企业并购融资中的障碍与解决思路 ............................................................................... 4 2.1 我国企业目前并购融资中的障碍 ................................................................................ 4 2.2 现阶段可行而合法的并购融资新途径 ........................................................................ 6 2.3 清除并购融资障碍的重要政策 .................................................................................... 7 结束语 ............................................................................................................................................. 8 参考文献 ......................................................................................................................................... 9 ××技术学院学年论文
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第 III 页 摘 要 并购是企业进行资本扩张的重要和有效手段,而融资问题又是企业并购成功与否的
瓶颈.目前我国企业并购中,银行贷款因政策和经营层面约束而支持有限,股权融资与债
券融资受政策和制度限制障碍重重,而以衍生产品为主的金融创新因环境制约难以有效
开展,企业并购融资行为受到极大的制约.伴随新的一轮并购浪潮重新掀起,要求我们完
善并创新股权融资渠道,重视培育和发展债券市场,构建并购基金,充分利用投资银行等
金融中介机构的专业性服务,积极开创新的并购融资方式。
关键词?企业并购 并购融资 委托贷款 信托融资
××技术学院学年论文
——————————————————————————————————————
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第 IV 页 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
××技术学院学年论文
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