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1、此文档是毕业设计外文翻译成品（ 含英文原文+中文翻译），无需调整复杂的格式！下载之后直接可用，方便快捷！本文价格不贵,也就几十块钱！一辈子也就一次的事！外文标题：Analysis of Financial Risk Prevention in Mergers and Acquisitions外文作者：DENG Biao文献出处:International Business and Management Vol. 9, No. 2, 2018, pp. 138-144 (如觉得年份太老，可改为近2年，毕竟很多毕业生都这样做)英文5198单词，35907字符(字符就是印刷符)，中文8040汉字。（
2、如果字数多了，可自行删减，大多数学校都是要求选取外文的一部分内容进行翻译的。）Analysis of Financial Risk Prevention in Mergers and AcquisitionsAbstract: Mergers and Acquisitions are considered to be a very effective method for improving enterprise management modes, expanding enterprise scale, and adjusting industrial structure. This meth
3、od has prevailed in every walk of life all over the world Affected by many factors, enterprise mergers and acquisitions have had a late start in China. The complex and fast-changing environment makes enterprise mergers and acquisitions a substantial risk. In particular, there is serious financial ri
4、sk filled in every step of the mergers and acquisition process. There are a variety of financial risks involved in mergers and acquisitions, and if these risks are not effectively addressed and controlled, they will cause failure at any time. Therefore, nowadays many scholars and entrepreneurs consi
5、der the financial risks of mergers and acquisitions to be the most considerable problem. This paper will propose effective precautionary measures for the financial risks associated with mergers and acquisitions, measures that reduce the impact resulting from financial risks, increase the opportunity
6、 of success for mergers and acquisitions, and insure the implementation of enterprise mergers and acquisitions.Key words: Mergers and acquisitions; Financial risk; Causation; PreventionINTRODUCTIONSince 1897, mergers and acquisitions in west capitalist countries have experienced five waves. Each M&A
7、 plays an important role in enterprises structure optimization and resource allocation. After the Reform and Opening-Up policies were implemented in China and with the rapid development of economic globalization, mergers and acquisitions became one of the most important ways for enterprises to expan
8、d their business scale and realize internationalization. Mergers and acquisitions appeared in China in the 1980s, at that time, mergers and acquisitions behaviors are popular in Chinese enterprises, though many enterprises engaged in mergers and acquisitions, the successful cases were few. Because t
9、here is lots of potential risk during mergers and acquisitions behavior, which including market risk, financial risk, legal risk, and so on. However financial risk is considered to be the prime issue for mergers and acquisitions. Thus it is necessary to study the content of M&A and financial risk, t
10、o understand the characteristics of financial risk and the influence they exert, and to systematically analyze financial risk; specifically, it requires to research the pricing risk of the target enterprise before M&A, the payment risk and financial risk during M&A, and integration risk after M&A. F
11、inally, this paper proposes preventive and control measures based on all kinds of risks, which are an effective way to reduce the financial risk and enhance an M&As probability of success.1. LITERATURE REVIEW1.1Research AbroadThe Western economic circle has an extensive and in- depth research about
12、M&A, and proposes many theories about motivations of mergers and acquisitions and prevention of financial risks. Jensen and Mclean (1976) proposed the Coast Theory, in which there is an agential relationship between the enterprise owner and operator, and profit maximization is not the only target of
13、 the enterprise. Weston (1998) considered that to implement mergers and acquisitions is to transfer or to obtain the special management ability of an industry, to transfer or to obtain general management ability and financial synergy, or to realize decentralized operation as well as extending the ma
14、nagement skills. Breather, in 1998, classified the motivation of mergers and acquisitions into economic motivation, personal motivation, and strategic motivation. Strategic motivation includes enhancing the competitiveness of the enterprise, pursuing the market, and obtaining steadily increasing pro
15、fit rates. This research was a great contribution to the theoretical development on mergers and acquisitions. Boehmer (1998) studied the mergers and acquisitions of European enterprises and compared the hostile acquisitions of public company in Europe. Alien (1999) analyzed the history of mergers an
16、d acquisitions in the UK, and he pointed out that mergers and acquisitions constituted an inevitable stage of an efficient enterprises maturation. From one standpoint, it supplements the internal growth of the enterprise. Mergers and acquisitions may even be considered to be a civilized way to change the fate of collapse of failure enterprise. The developmental history of enterprises all over the world indicates that mergers and acquisitions are a succes
