20.500.12556/DKUM-43675 POMEN SKRBNEGA PREGLEDA ZA USPEŠEN PREVZEM ALI ZDRUŽITEV IN ZA ODLOČITEV O NAKUPU PODJETJA THE IMPORTANCE OF DUE DILIGENCE FOR SUCCESSFUL MERGER OR ACQUISITION AND FOR DECISION OF BUYING A COMPANY Skrbni pregled v okviru prevzema predstavlja podporni proces skozi vse faze prevzema. Pomembno vpliva na doseganje zastavljenih ciljev po prevzemu, saj predstavlja organizirano podporo pri obvladovanju tveganj, ki se po prevzemu lahko pojavijo zaradi vzpostavljanja na novo organiziranega procesa poslovanja. V sklopu skrbnega pregleda prehajajo tri prevzemne faze. V prvi fazi je skrbni pregled prisoten v okviru analize izbora prevzemne tarče, v drugi fazi poteka proučevanje poslovnih dogodkov in dokumentacije izbranega subjekta, tretja faza integracije pa je faza vzpostavljanja poslovanja, kjer se skrbni pregled pojavlja tudi v okviru vprašanja medkulturnih razlik in zagotavlja podporo pri doseganju zastavljenih ciljev. V preteklosti je bilo v razvitih državah zaznanih veliko neuspešnih prevzemov, in sicer v smislu, da investitorji po prevzemu bodisi niso dosegli pričakovanega donosa bodisi niso uspeli doseči drugih zastavljenih ciljev ali pa dobička preprosto niso dosegli zaradi konflikta interesov vodstva oz. drugih zaposlenih. Vzroke je mogoče iskati tudi v tem, da je bilo mnogo prevzemov izvedenih z bežnim ali omejenim skrbnim pregledom ob slabi komunikaciji med ravnmi ali v precenjenih kupninah. Raziskava odkriva, da je za prevzem potrebno učinkovito obvladovanje vseh dejavnikov, ki lahko predstavljajo tveganje za prevzemnika. Ugotavljamo tudi, da so odločitve pri prevzemih večinoma sprejete zaradi finančnih podatkov podjetja, sprejemljivih za investitorja, in zaradi sprejemljivega zahtevanega donosa, za katerega se predvideva, da ga bo podjetje lahko doseglo po prevzemu. Primeri v praksi pa kažejo, da je problem neuspešnih prevzemov predvsem slaba komunikacija, slab medkulturni dialog, konflikt interesov, preplačano podjetje, precenjeni cilji in slab skrbni pregled, iz česar lahko sklepamo, da je potreben bolj diverzificiran pristop k preučevanju podjetja tarče, ki ni omejen zgolj na glavne pravne in finančne iztočnice podjetja. In terms of acquisition (and/or merger), due diligence represents a support process through all phases of acquisition. Providing support for risk management that can occur after the acquisition due to the establishment of newly organized business process, it also has a significant impact on the fulfillment of set goals after the acquisition. Due diligence consists of three acquisition phases. First phase includes a selection of a merger target, second phase is a research of business events and documentation of the selected candidate and third phase, which is an integration phase, includes an establishment of a business process in which due diligence takes place in the context of cultural differences, but also serves as a support factor for reaching set goals. In the past, developed countries recorded several unsuccessful acquisitions, as investors failed to reach the required rate of return or other set goals, or could not make profit due to conflict of interests of management and/or other employees. Another cause of such failure could also be that many mergers included only a short or limited due diligence process with poor communication between levels or due to overvalued purchase. Our research shows that a successful merger requires an effective control over all factors that could represent a risk for the acquirer. We can also conclude that, in terms of acquisition, decision-making is generally based on company’s financial data, which is acceptable for the investor, and on acceptable required rate of return which is expected to be reached after the acquisition. However, in reality, the main problem of unsuccessful acquisitions is poor communication, poor cultural dialogue, conflict of interest, an overpaid company, overvalued goals and a weak due diligence, which suggests the need for a more diversified approach to the study of the target company that is not limited only to company’s basic legal and financial aspects. Skrbni pregled vrednost podjetja prevzemi in združitve temeljni računovodski izkazi odločitev o prevzemu. Due diligence value of company mergers and acquisitions fundamental accounting statements decision of buying a company. true true false [L. Drobne] Slovenski jezik Angleški jezik Magistrsko delo/naloga 2014-02-21 00:25:42 2014-05-23 11:34:37 2022-05-10 03:06:32 2021-04-29 03:29:25 2014 0 Grobelno 0 0000-00-00 NiDoloceno NiDoloceno NiDoloceno 0000-00-00 0000-00-00 0000-00-00 005.5 11714844 URN:SI:UM:DK:FKCYIIHF MAG_Drobne_Lea_2014.pdf MAG_Drobne_Lea_2014.pdf 1 558C7EF9A4BEF9E084CBD157500DD8B4 e76492f409e0deadaf8ba36db458942edd1269da09b74a3fdfbe5d92f027cc6e c7bf8d96-7c0a-11eb-bb7a-00155d0001ca https://dk.um.si/Dokument.php?lang=slv&id=63096 Ekonomsko-poslovna fakulteta 0 0 0