摘 要：企业并购重组是现代企业发展的重要战略手段，其成功与否在很大程度上取决于财务整合的有效性。本研究以企业并购重组中的财务整合问题为切入点，旨在探讨财务整合的关键环节及其对并购绩效的影响。通过文献分析与案例研究相结合的方法，选取多个典型并购案例进行深入剖析，并构建了财务整合评价指标体系。研究表明，财务整合涉及资源优化配置、会计政策协调及风险管理等多个维度，其中信息不对称和文化冲突是主要障碍。本研究创新性地提出了基于动态适应性的财务整合框架，强调并购双方在整合过程中的协同效应与灵活性。研究结果表明，科学的财务整合策略能够显著提升并购后的经营效率与财务绩效，为企业并购决策提供理论支持与实践指导，具有重要的学术价值和现实意义。
关键词：企业并购；财务整合；并购绩效
Abstract：Corporate mergers and acquisitions (M) restructuring is a critical strategic tool for modern enterprise development, with its success largely contingent upon the effectiveness of financial integration. This study focuses on the financial integration issues in M restructuring, aiming to explore the key aspects of financial integration and its impact on M performance. By employing a combination of literature analysis and case studies, multiple typical M cases were thoroughly examined, and a financial integration evaluation index system was constructed. The findings reveal that financial integration encompasses multiple dimensions, including resource optimization, coordination of accounting policies, and risk management, with information asymmetry and cultural conflicts identified as primary obstacles. Innovatively, this research proposes a financial integration fr amework based on dynamic adaptability, emphasizing the synergistic effects and flexibility required during the integration process between the merging parties. The results indicate that a scientifically devised financial integration strategy can significantly enhance post-M operational efficiency and financial performance, providing both theoretical support and practical guidance for corporate M decision-making. This study holds substantial academic value and practical significance.
Keywords: Enterprise Merger And Acquisition；Financial Integration；Merger And Acquisition Performance
目 录
引言 1
一、并购重组财务整合概述 1
(一)财务整合的概念与意义 1
(二)并购重组中的财务整合特点 2
(三)财务整合的主要目标与挑战 2
二、财务整合的理论基础与框架 3
(一)财务整合的核心理论分析 3
(二)并购重组中的财务整合框架构建 3
(三)理论框架在实践中的应用探讨 4
三、财务整合的关键环节研究 4
(一)资产负债表的整合策略 4
(二)收入与成本的协同效应分析 5
(三)现金流管理与风险控制 5
四、财务整合的影响因素与优化路径 6
(一)文化差异对财务整合的影响 6
(二)信息系统支持下的整合优化 6
(三)政策环境与财务整合的关系 7
结论 7
参考文献 8
致谢 8
关键词：企业并购；财务整合；并购绩效
Abstract：Corporate mergers and acquisitions (M) restructuring is a critical strategic tool for modern enterprise development, with its success largely contingent upon the effectiveness of financial integration. This study focuses on the financial integration issues in M restructuring, aiming to explore the key aspects of financial integration and its impact on M performance. By employing a combination of literature analysis and case studies, multiple typical M cases were thoroughly examined, and a financial integration evaluation index system was constructed. The findings reveal that financial integration encompasses multiple dimensions, including resource optimization, coordination of accounting policies, and risk management, with information asymmetry and cultural conflicts identified as primary obstacles. Innovatively, this research proposes a financial integration fr amework based on dynamic adaptability, emphasizing the synergistic effects and flexibility required during the integration process between the merging parties. The results indicate that a scientifically devised financial integration strategy can significantly enhance post-M operational efficiency and financial performance, providing both theoretical support and practical guidance for corporate M decision-making. This study holds substantial academic value and practical significance.
Keywords: Enterprise Merger And Acquisition；Financial Integration；Merger And Acquisition Performance
目 录
引言 1
一、并购重组财务整合概述 1
(一)财务整合的概念与意义 1
(二)并购重组中的财务整合特点 2
(三)财务整合的主要目标与挑战 2
二、财务整合的理论基础与框架 3
(一)财务整合的核心理论分析 3
(二)并购重组中的财务整合框架构建 3
(三)理论框架在实践中的应用探讨 4
三、财务整合的关键环节研究 4
(一)资产负债表的整合策略 4
(二)收入与成本的协同效应分析 5
(三)现金流管理与风险控制 5
四、财务整合的影响因素与优化路径 6
(一)文化差异对财务整合的影响 6
(二)信息系统支持下的整合优化 6
(三)政策环境与财务整合的关系 7
结论 7
参考文献 8
致谢 8
