摘要
互联网企业并购作为高风险经营活动,其中财务风险成为并购成功与否的重要衡量指标。以携程并购去哪儿网为例,基于互联网并购财务风险相关理论,对互联网并购企业的估值风险、融资支付风险和整合风险进行系统分析,提出对应的财务风险控制及防范措施。研究表明:互联网企业具有独特的现金流结构和融资结构、产业融合加剧、轻资产等行业特点,并购对估值风险、融资支付风险和财务运营整合风险具有重要影响。
As a high-risk business activity,the financial risk has become an important measure of the success of M&A.Taking Ctrip M&A to Where Network as an example,based on the relevant theory of financial risk of Internet M&A,this paper systematically analyses the valuation risk,financing payment risk and integration risk of Internet M&A enterprises,and puts forward corresponding financial risk control and preventive measures.The research shows that Internet enterprises have unique cash flow structure and financing structure,intensified industrial convergence,light assets and other industry characteristics.Mergers and acquisitions have an important impact on valuation risk,financing and payment risk and financial operation integration risk.
作者
王波
WANG Bo(Anhui City Management Vocational College,Hefei,230601,China)
出处
《天津中德应用技术大学学报》
2020年第1期122-127,共6页
Journal of Tianjin Sino-German University of Applied Sciences
基金
2017年度安徽高校人文社会科学研究重点项目“二元平衡视角下企业创新绩效测度研究”(编号SK2017A0565)资助
关键词
互联网+
企业并购
财务风险
去哪儿网
携程网
Internet+
Mergers and Acquisitions
Financial Risks
Where to Go
Ctrip
