摘要:企业并购是一种产权运动的形式，也是现代企业为了扩大规模而采取的一种成长方式。并购包括收购、兼并、接管、合并等。与企业自身积累的传统成长方式相比，并购具有明显的时间优势，能让企业规模快速的扩大，企业通过并购不仅仅能实现规模的扩张，还可以优化企业的资源配置，同时也是产品结构调整和管理制度创新的动力。

　　　企业并购是一种高风险的资本经营活动，它既能给企业带来巨大的利益，又蕴藏着巨大的风险。企业若在并购中没有运用有效的方法来评估、分析和控制风险，将会导致企业并购失败，给企业造成经济损失。

　　　企业并购需动用上百亿、上千亿元的资金，其本身就面临着巨大的财务风险，而财务风险是影响企业并购成败的重要因素。因此要提高并购的成功率，就要对并购财务风险进行控制和有效的防范。本文通过对并购中的财务风险类型及其成因的分析，对企业财务风险的现状提出了防范措施。

关键词：企业并购  财务风险  风险因素  企业规模

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