How to improve M&A loans in China : a comparison and risk management angle
Thesis: S.M. in Management Studies, Massachusetts Institute of Technology, Sloan School of Management, 2017.
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| Format: | Thesis |
| Language: | eng |
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Massachusetts Institute of Technology
2017
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| Online Access: | http://hdl.handle.net/1721.1/111449 |
| _version_ | 1826203693399146496 |
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| author | Liu, Xiaohua, S.M. Sloan School of Management |
| author2 | Mark P. Kritzman. |
| author_facet | Mark P. Kritzman. Liu, Xiaohua, S.M. Sloan School of Management |
| author_sort | Liu, Xiaohua, S.M. Sloan School of Management |
| collection | MIT |
| description | Thesis: S.M. in Management Studies, Massachusetts Institute of Technology, Sloan School of Management, 2017. |
| first_indexed | 2024-09-23T12:41:34Z |
| format | Thesis |
| id | mit-1721.1/111449 |
| institution | Massachusetts Institute of Technology |
| language | eng |
| last_indexed | 2024-09-23T12:41:34Z |
| publishDate | 2017 |
| publisher | Massachusetts Institute of Technology |
| record_format | dspace |
| spelling | mit-1721.1/1114492019-04-12T17:40:07Z How to improve M&A loans in China : a comparison and risk management angle How to improve mergers and acquisitions loans in China : a comparison and risk management angle Liu, Xiaohua, S.M. Sloan School of Management Mark P. Kritzman. Sloan School of Management. Sloan School of Management. Sloan School of Management. Thesis: S.M. in Management Studies, Massachusetts Institute of Technology, Sloan School of Management, 2017. Cataloged from PDF version of thesis. Includes bibliographical references (pages 59-62). China is actively leading the Asia-Pacific M&A market with an ascending trend of transaction volume and $770 billion transaction volume in 2016. This trend makes financing fundamental, which affects acquisition scale, structure, consequence and even post-acquisition integration. M&A loans, launched in 2008, have become the most utilized pattern of M&A financing in China. Though it develops fast, multiple problems exist in practice. My research focuses on how to improve M&A loans by solving these problems. To compare the practice in the US and China's M&A lending markets, I explained the four main business models of M&A loans in China and illustrated the bank debt financing in LBO deals in the US. Based on the comparison, I maintained that the main reasons for the defects lay in both macro and micro levels and accordingly made suggestions. Especially, improvement in risk management would allow confidence in business development and product innovation. Thus the problems of credit preference and product homogeneity could be eased. I illustrated utilization of multiple models with a real case. The study also includes empirical and scenario methods in analysis. by Xiaohua Liu. S.M. in Management Studies 2017-09-15T15:34:41Z 2017-09-15T15:34:41Z 2017 2017 Thesis http://hdl.handle.net/1721.1/111449 1003321397 eng MIT theses are protected by copyright. They may be viewed, downloaded, or printed from this source but further reproduction or distribution in any format is prohibited without written permission. http://dspace.mit.edu/handle/1721.1/7582 62 pages application/pdf a-cc--- Massachusetts Institute of Technology |
| spellingShingle | Sloan School of Management. Liu, Xiaohua, S.M. Sloan School of Management How to improve M&A loans in China : a comparison and risk management angle |
| title | How to improve M&A loans in China : a comparison and risk management angle |
| title_full | How to improve M&A loans in China : a comparison and risk management angle |
| title_fullStr | How to improve M&A loans in China : a comparison and risk management angle |
| title_full_unstemmed | How to improve M&A loans in China : a comparison and risk management angle |
| title_short | How to improve M&A loans in China : a comparison and risk management angle |
| title_sort | how to improve m a loans in china a comparison and risk management angle |
| topic | Sloan School of Management. |
| url | http://hdl.handle.net/1721.1/111449 |
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