【作者】 马万铭；

【导师】 王富炜；

【作者基本信息】 北京林业大学 ， 会计学， 2006， 硕士

【摘要】 我国当前正处在一个风起云涌的并购时代。企业并购成为企业谋求快速发展的重要的手段和经营对策,影响着并购方企业正常的生产经营活动。而并购融资是影响并购成败的关键因素之一,并购融资中并购方资信评估是并购工作顺利进行的基础。资信评估作为一种旨在防范信用风险的社会监督手段,是市场经济发展到一定阶段的必然产物,其对市场经济的重要性己经得到了理论研究的证明和发达国家实践的检验。国际资信评估业经过了近百年的发展,逐步形成了一套较为完善的理论和方法,但并购融资中并购方资信评估尚处于起步阶段,从而影响到企业资信评估的效果。所以有必要建立和完善适合我国国情的并购融资中并购方资信评估指标体系,提高评估的准确性,满足我国资信评估的需求,同时要不断提高我国资信评估机构的整体实力。本论文在研究过程中采用定性与定量分析相结合的方法,更注重定性分析。首先分析了资信评估的内涵;资信评估所依据的理论;资信评估方法;国内外资信评估、并购融资的发展状况及存在的问题,其次依据并购融资的特点对企业并购融资中并购方资信评估应考虑的特殊问题进行了具体分析,结合德尔菲法与层次分析法(AHP)确定指标权重,最终构建了企业并购融资中并购方资信评估指标体系,并借鉴国外资信管理经验,提出完善我国企业资信评估业的对策及相应建议。这些尤其有助于促进并购融资中并购方的资信评估在我国的应用,推动资信评估理论与应用的研究与发展。更多还原

【Abstract】 Now China is on the era of prevailing Merge and Acquisition activities. Merge and Acquisition activities has become an important tool and operating countermeasures which could help the enterprises make progress as quickly as possible. Merge and Acquisition financing is one of factors of which will have influence of the success of Merge and Acquisition activities. Credit rating of acquiring company in the process of Merge and Acquisition is an important basis of Merge and Acquisition activities.In order to avoid credit risk ,Credit rating is used as one of social overseeing means which is the outcome for the development of market economy. The importance of the credit rating has been proved by the research and the practice in the developed countries.Credit rating industry abroad has already formed a set of theories and system gradually during the development about one hundred years. But the research on credit rating of Acquiring Company in the process of Merge and Acquisition is now at the initial stage in china, the credit rating index system and methods are less than satisfactory, and so are the credit rating results .We must improve the credit rating index system which could be more suitable to the actual conditions of China, and we must improve the veracity of results and meet the demands of the actual conditions of the credit rating industry in our country. At the same time, we should improve the competitive capacity of our country’s credit rating agencies in the international market.The paper adopts some research methods including quantitative and qualitative analysis while paying more attention to qualitative analysis. This paper’s structure is as follows: At first, it defines the credit rating summarizes the rating theories, credit rating methods, and the domestic and international related research .then further discuss the study situations and existing problems of credit rating and Merge and Acquisition financing in overseas and domestic. According to characteristic of Merge and Acquisition, definitely analyze the especial更多还原