海外并购融资方式选择研究——以西王食品并购Kerr公司为例  

Research on the Choice of Financing Methods for Overseas Mergers and Acquisitions:The Acquisition case of Xiwang Acquiring Kerr Food

作　　者：谢军[1] 田一擎 区瀚文 Xie Jun;Tian Yiqing;Qu Hanwen

机构地区：[1]华南理工大学

出　　处：《管理会计研究》2023年第5期34-42,共9页MANAGEMENT ACCOUNTING STUDIES

基　　金：教育部人文社会科学研究规划基金项目“中国制造企业转型升级动力机制研究”(17YJA630006);广东省软科学项目:“广东省科技型企业融资约束的评估和解析及科技融资体系的创新研究”(2012B070300051)。

摘　　要：我国企业在面对规模巨大的海外并购时,并购融资问题显得尤为突出,民营企业更是难上加难。本文以民营企业西王食品并购Kerr公司为主线,剖析西王食品海外并购融资方案的设计过程,分析此次并购中并购融资方式、融资成本和融资风险的关系和影响,试图评价其融资决策的合理性,希望为国内企业的跨境并购实践与融资方案设计提供启示。When Chinese enterprises encounter large-scale overseas mergers and acquisitions,the issue of M&A financing is particularly prominent,and it is even more difficult for private enterprises.This paper explores the design process of Xiwang Foods overseas M&A financing plan through the case of private enterprise Xiwang Foods acquisition of Kerr,and analyze the relationship and influence of financing methods,financing costs and financing risks to evaluate the rationality of its financing decisions.This paper intends to provide inspiration for the overseas M&A practice and financing plan design of domestic enterprises.

关 键 词：跨境并购融资方式 融资成本 融资风险 

分 类 号：F426.82[经济管理—产业经济] F271F125F406.7