互聯(lián)網(wǎng)企業(yè)并購的風(fēng)險分析及控制研究——以優(yōu)酷網(wǎng)并購?fù)炼咕W(wǎng)為例.pdf

1、 Abstract In recent years, the Internet companies set off a wave of mergers and acquisitions, big Internet industry giants seek rapid development, and small business companies survive their way through mergers. Mergers a

2、nd acquisitions in the Internet industry over the next few years will continue to be a trend. Under the background of new environment and changing of Internet industry pattern, the motivations and risks of M & A beha

3、vior also have new characteristics. It is of practical significance to study the motivations and risks of mergers and acquisitions in recent years to realize the behavior of Internet enterprises and to explore the develo

4、pment of Internet enterprises. More and more Internet companies seek their own development and growth through mergers and acquisitions, but not all mergers and acquisitions have achieved the desired effect. The success o

5、f mergers and acquisitions is determined by how to carefully control the risk, to play the synergies effect between the two sides better, to continuously seek new profit growth after the acquisition. This paper is based

6、on typical M&A case analysis of Yoku and Tudou and mainly uses the case study method, the financial index comparative research method, the literature analysis method and so on to study the risk analysis and the contr

7、ol of the Internet merger and acquisition. The research makes full use of the financial information disclosed by the listed companies, the information and data released by the official media, the authoritative data analy

8、sis platform and other Internet information. This paper studies the following aspects: First, the introduction mainly elaborates the research background and purpose. And then the paper studies the concept of definition a

9、nd domestic and foreign literature review, including the traditional mergers and acquisitions and Internet mergers and acquisitions of the relevant risk theory, and summed up the emergence of new features of Internet mer

10、gers and acquisitions in recent years.Then illustrate the M & A process ,analyze the effect of M & A by using financial data and do the risk analysis and control research on typical cases of Yoku's acquisitio

11、n to Tudou. Then we introduce the case and make use of the theory of efficiency of M & A, market forces theory, information and signal theory and value underestimation theory to discuss the conclusion of the case stu

12、dy, and draw the conclusion that the risk analysis process of the Internet M & A has a certain degree of universality.It is divided into seven risk factors according to the pre-and post-merger, before and after the m

13、erger.Universal and specific control methods are proposed for each risk. This article hopes to use the analysis and research of typical cases.,from point to area,to provide some reference and suggestion for the Internet