I 摘要 在国家经济转型的大环境下，我国企业并购交易金额屡创新高，整个并购市场呈现出急 剧性增长。随着《商业银行并购贷款风险管理指引》的公布，并购贷款扩大了商业银行的业 务来源，增加了业务增长点和利润空间，但是并购贷款风险显然远超于一般贷款。对于高风 险与高收益并存的并购贷款业务，增强并购贷款风险管理能力对企业与银行的整体经营发展 具有重要意义。 本文以PF银行芜湖分行一典型并购贷款为实例，对商业银行并购贷款风险管理进行探 讨。首先，在概述并购贷款概念及相关理论的基础上，介绍了案例并购双方以及整个并购贷 款事件的背景；其次，从本次商业银行并购贷款所特有的战略风险、法律风险、财务与经营 风险对QR公司的并购案例进行深入剖析；再次，概括PF银行芜湖分行对并购贷款的QR公 司的实际运营情况及存在的风险因素分析；最后，针对PF银行芜湖分行并购贷款中可能存在 的风险，提出了完善并购贷款风险控制机制、健全并购贷款的业务流程和组织框架、加强专 业人才培养与团队建设等改进措施，这对商业银行在当前经济形势下稳健开展并购贷款业务、 提高风险管理水平有一定的借鉴作用。 关键词：并购贷款，商业银行，风险管理 南京邮电大学专业学位硕士研究生学位论文 Abstract II Abstract In the context of the country's economic transformation, the value of China's corporate M & A transactions has hit records, and the entire M & A market has shown rapid expansion. With the promulgation of the "Guidelines for the Risk Management of M & A Loans in Commercial Banks", M & A loans have broadened the business areas of commercial banks and increased business growth and profit sources, but the risks of M & A loans are significantly higher than those of general loans. For high-risk and high-income M & A loan business, improving the risk management level of M & A loans is of great significance to the overall operation and development of the enterprises and the banks. This article takes the example of M & A loan of Wuhu Branch of PF Bank as a typical example to discuss the risk management of M & A loan of commercial banks. Firstly, on the basis of summarizing the concept of M & A loans and related theories, this paper introduces the background of both sides of M & A and the whole event of M & a loan. Then, the paper makes an in-depth analysis of QR company's M & A cases from the unique strategic risk, legal risk, financial and operational risk of this M & a loan of commercial banks . Secondly, it summarizes the actual operation situation and existing risk factors of QR company of Wuhu Branch of PF Bank on M & A loans. Finally, in view of the possible risks in the M & a loan of Wuhu Branch of PF bank, the paper puts forward the related improvement ways, such as improving the risk management mechanism of M & a loan,improving the business process and organizational system of M & a loan, and strengthen professional personnel training and team building, which provide a certain reference for commercial banks to steadily develop M & A loan business and improve risk management in the current economic situation. Keywords: M & A Loans; Commercial Banks; Risk Management 南京邮电大学专业学位硕士研究生学位论文 目录 III 目录 摘要 .......................................................................................................................................................I Abstract ............................................................................................................................................... II 第一章 绪论 .................................................................................................................................... 1 1.1 研究背景及研究意义 ........................................................................................................ 1 1.1.1 研究背景 .................................................................................................................. 1 1.1.2 研究意义 .................................................................................................................. 2 1.2 理论基础及文献综述 ........................................................................................................ 3 1.2.1 并购贷款的相关概念和理论基础 .......................................................................... 3 1.2.2 文献综述 .................................................................................................................. 5 1.3 研究内容及研究方法 ........................................................................................................ 9 1.3.1 研究内容 .................................................................................................................. 9 1.3.2 研究方法 ................................................................................................................ 10 第二章 我国商业银行并购贷款的发展现状及面临风险 .......................................................... 11 2.1 我国商业银行并购贷款的发展现状 .............................................................................. 11 2.1.1 我国并购贷款的演变进程 .................................................................................... 11 2.1.2 我国商业银行并购贷款业务的发展情况 ............................................................ 12 2.1.3 我国商业银行并购贷款业务的发展模式 ............................................................ 16 2.2 我国商业银行并购贷款的风险 ...................................................................................... 17 2.2.1 商业银行并购贷款的风险来源及其分析 ............................................................ 17 2.2.2 我国商业银行并购贷款业务存在风险的原因 .................................................... 19 2.3 小结 .................................................................................................................................. 19 第三章 PF银行芜湖分行并购贷款风险管理案例分析 ............................................................. 20 3.1 案例分析 .......................................................................................................................... 20 3.1.1 交易行为方的背景概况 ........................................................................................ 20 3.1.2 并购贷款事件简介和背景分析 ............................................................................ 22 3.1.3 本次并购贷款行为的财务分析 ............................................................................ 24 南京邮电大学专业学位硕士研究生学位论文 目录 IV 3.2 并购贷款业务对PF银行芜湖分行的风险分析 ............................................................ 31 3.2.1 商业银行并购贷款的评估战略风险 .................................................................... 33 3.2.2 商业银行并购贷款的法律与合规风险 ................................................................ 34 3.2.3 商业银行并购贷款的经营与财务风险 ................................................................ 35 3.3 本并购贷款项目的风险管理 .......................................................................................... 36 3.3.1 执行市场政策法规 ................................................................................................ 36 3.3.2 优化银行内部管理 ................................................................................................ 37 3.3.3 发展项目系统 ........................................................................................................ 38 第四章 商业银行顺利实施并购贷款业务的对策建议 .............................................................. 40 4.1 PF银行芜湖分行并购贷款风险管理存在的主要问题分析 ......................................... 40 4.1.1 担保方式过于单一 ................................................................................................ 40 4.1.2 配套服务体系方面的不足 .................................................................................... 40 4.1.3 并购贷款专业人才匮乏 ........................................................................................ 41 4.2 商业银行风险管理的改进措施 ...................................................................................... 42 4.2.1 完善并购贷款担保方式 ...............................................................