本科生毕业论文(设计)吉利公司并购支付方式分析院系名称会计学院姓 名鲁雨果学 号6专 业 财务管理指导老师周宇 副教授2024 年 5 月 30 日摘 要并购交易一直是引人注目的资本交易活动，它是产业结构变迁和企业成长壮大的基本手段和运营常态。会计和金融学者对该问题进行了大量的讨论，并购支付方式作为并购过程的最后环节，对并购的成功有重要的影响。不同的并购支付方式对并购双方的财务影响各异，支付工具选择恰当与否，不仅关系到并购策略的实现，还会显示出不同的并购信息价值，从而影响到并购市场的运行，甚至决定并购交易是否能够成功。本文采纳案例法对吉利并购沃尔沃轿车业务的支付方式进行了讨论，介绍了并购双方财务状况，并购过程和并购支付方式，肯定了其从国外银行贷款、通过权益融资方式吸收海外资金、争取政府资金等的多种融资方式。但讨论发现吉利并购支付方式比较单一，过度依赖现金支付，没有合理控制股权融资和债务融资比例的缺陷。为了并购的顺利进行，我们要做好融资前期的分析工作，重视海外融资平台的建立，充分利用中介机构的协助，做好各项风险防工作。关键词：企业并购；并购支付方式；资本结构AbstractM&A transactions has been a remarkable capital transactions that it is the basic means and the normal operation of the changing of industrial structure and the growth and expansion of businesses. A lot of researches have been done by accounting and finance regarding to this problem.As the last step of the success of mergers and acquisitions,the payment method of M&A process has important implications. Different M&A payment methods have different impacts on the both sides of the financial of M&A. Choosing appropriate payment instruments not only is related to the implementation of acquisition strategy, but also shows a different value of information on mergers and acquisitions, thus affecting the operation of M&A market, and even can be decided whether the transaction will be successful or not. This paper studies on the acquisition of Volvo car business Geelypayment by using cas...
