摘要:企業并購是一種產權運動的形式，也是現代企業為了擴大規模而采取的一種成長方式。并購包括收購、兼并、接管、合并等。與企業自身積累的傳統成長方式相比，并購具有明顯的時間優勢，能讓企業規模快速的擴大，企業通過并購不僅僅能實現規模的擴張，還可以優化企業的資源配置，同時也是產品結構調整和管理制度創新的動力。

　　　企業并購是一種高風險的資本經營活動，它既能給企業帶來巨大的利益，又蘊藏著巨大的風險。企業若在并購中沒有運用有效的方法來評估、分析和控制風險，將會導致企業并購失敗，給企業造成經濟損失。

　　　企業并購需動用上百億、上千億元的資金，其本身就面臨著巨大的財務風險，而財務風險是影響企業并購成敗的重要因素。因此要提高并購的成功率，就要對并購財務風險進行控制和有效的防范。本文通過對并購中的財務風險類型及其成因的分析，對企業財務風險的現狀提出了防范措施。

關鍵詞：企業并購  財務風險  風險因素  企業規模

ABSTRACT:Enterprise merger is a property in the form of movement,and also is a kind of growth way of modern enterprise which want to expand the size of itself.Mergering has many forms,including the annex,purchase,takeover, combine etc.Compared with the traditional growth mode accumulation and the enterprise,M & A has the obvious advantage,it can let the enterprise scale rapid expansion.Enterprises through mergers and acquisitions can not only achieve the expansion of scale,it can also optimize the allocation of resources and the adjustment of industrial structure.

   Mergers and acquisitions can bring benefits to enterprises, but also can bring risks.If the enterprise in mergers and acquisitions without the use of assessment, effective method to analyze and control risk,it will cause the enterprise merger and acquisition failure rate increased,and causing the economic losses of enterprises.Enterprise merger frequently billions, hundreds of billions of yuan of funds,Itself is facing a huge financial risk.If you want to improve the success rate of M & A, we should do a good job analysis and control of financial risk.

   The occurrence of financial risk affected by climate change, make the enterprise merger and acquisition is facing many uncertainties.This uncertainty is an objective existence, not to transfer to the will of the people.Many financial risk factors can cause, it is difficult to grasp in mergers and acquisitions.Its forming process is complex, so we must analyze it from different perspectives.

Keywords：merger；acquisition；financial risk；scale