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摘要：随着我国经济的不断发展，中小企业已经成为我国国民经济的重要组成部分，已成为推动国民经济健康、持续发展的主力军和最具发展活力的经济增长点。而企业并购则是企业不断发展的必经之路，企业并购是为实现企业价值最大化目标的高风险金融投资活动。企业的并购则需要大量的资金，因此，企业并购的成功需要融资来支持。然而，不少中小企业因为缺乏资金，在并购融资的路上举步文艰，而且从更长远的角度来看，融资问题已经成为影响中小企业发展的主要原因。当前，由于中小企业发展中存在严重的资金缺口，中小企业要不断地探索融资模式，以便在有限的时间内迅速筹集足够资金，为企业的并购打下经济基础，促进其可持续发展。融资方式的选择对企业完成并购成功有着举足轻重的作用。中小企业应按照自身所处行业类型以及自身发展阶段，择优选择融资方式。本文通过分析当下市场环境中中小企业融资环境以及方式选择的路径，列举出适应多样化中小企业并购的融资方式，举出具体案例，并找出中小企业并购融资过程中存在的问题，结合实际情况分析内外原因，提出优化中小企业并购融资的方案，内外加强，为中小企业的成长发展。35441
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毕业论文关键词：中小企业；并购融资；融资困难；融资方式
Small and Medium-Sized Enterprise M&A Financing Analysis
Abstract：Along with the economic development of our country, minor enterprises, in terms of medium and small-scale business, become the underpinnings and pivotal forces in the national economy; furthermore, it plays an irreplaceable role in the contribution of the growth of the national economy. It is the force to motivate the national economy to develop healthily, the spearhead of the sustainable development, and the growth engine with the most vitality. However, many SMEs because of lack of funds, faced with the dilemma of imminent collapse, but also from a longer-term perspective, the problem of financing the development of SMEs has become the main obstacle. Currently, the financing of SMEs narrow financing unreasonable, making the slow pace of development of SMEs in China, is not conducive to the formation of long-term competitiveness. Because there is a serious shortfall in the development of SMEs, SMEs should continue to explore financing model, in order to quickly raise enough funds for a limited period of time, to fill the funding gap, and promote sustainable development. Choice of financing is the key to business success financing. SMEs should follow their industry type and their stage of development, the preferred choice of financing. This article aims to help SMEs to get rid of the plight of financing difficulties, making the healthy development of SMEs can provide a new engine for China's rapid economic development.
Key words: SMES ; M&A; Funding structure; Pre-alertness of risks.
目录
引言 1
一、中小企业并购融资概述 2
（一） 中小企业并购融资的概念 2
（二）中小企业并购融资的原因 2
（三）企业并购融资的优势 2
二、中小企业主要并购融资方式 3
（一）债务融资方式 3
1、贷款融资 3
2、债券融资 3
（二）权益融资方式 3
1、股权融资 3
2、风险投资 3
（三）创新融资方式 4
1、杠杆收购融资 4
2、换股并购融资 4
3、认股权证融资 4
4、PE杠杆收购基金 5
三、中小企业并购融资中存在的问题 6