Due Diligence in China : Beyond the Checklists.
Kwek Ping. Yong
Bok Engelsk 2013 · Electronic books.
| Omfang | 1 online resource (384 pages)
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| Utgave | 1st ed.
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| Opplysninger | Intro -- Due Diligence in China: Beyond the Checklists -- Copyright -- Contents -- Preface -- Acknowledgments -- Chapter 1: The Business Landscape in China -- Macro and Structural Domains -- From Planned Economy to Market Economy -- Rising Income Inequality -- Compensation Schemes in China -- Corruption in China -- U.S. Foreign Corrupt Practices Act -- China's Own FCPA -- Fraud -- Company-Specific and Corporate Culture Issues -- Conducting Due Diligence in China versus Western Countries -- Conclusion -- Notes -- Chapter 2: Due Diligence in China -- Due Diligence for Different Types of Deals -- Private Equity and Mergers and Acquisition Due Diligence -- Pre-IPO Due Diligence -- Levels of Due Diligence -- Initial Due Diligence -- Advanced Due Diligence -- Full Due Diligence -- Key Considerations -- Motivations for the Deal -- Identify the Specific Element Wanted in the Deal -- Identify Potential Synergies and Liabilities -- Establish the Value of the Target -- Identify Deal Breakers -- Organization of Due Diligence Process -- Stages of Due Diligence -- Intensity of Due Diligence -- The Due Diligence Team -- Independence of Vendor Due Diligence -- Reasons for Poor Due Diligence -- Selection of Service Providers -- Lack of Resources -- Rushing the Deal -- Poor Planning -- Overdependence on Checklists -- Poor Risk Mitigation -- Poor Alignment of Interests -- Reverse Takeovers -- Dispute between SEC and CSRC -- Conclusion -- Notes -- Chapter 3: Financial Due Diligence -- Financial Due Diligence Checklist -- Major Differences between China and Developed Countries -- The Approach -- Information Collection Process -- Sales -- Cost of Sales -- Expenses -- Cash -- Other Payables and Other Receivables -- Fixed Tangible and Intangible Assets -- Accounting Information Systems -- Tax Issues and Preferential Tax Policies toward Hi-Tech Enterprises.. - Other Local Policies -- Internal Controls Systems -- Important Points to Note -- Conclusion -- Notes -- Chapter 4: Operational, Commercial, Legal, and Other Due Diligence -- Operational Due Diligence -- Management and Employees -- Information Technology Systems -- Business Operations -- Supply-Chain Management -- Commercial Due Diligence -- Industry Outlook -- PEST Analysis -- Legal Due Diligence -- Setting the Right Attitude and Mentality -- Uncovering Potential Liabilities -- Intellectual Property Protection (IP) -- Management of Company Stamps -- Balanced Scorecard (BSC) -- How to Predict Bankruptcy-Altman Z Scores and Gearing -- Optional Checklists -- Human Resource Due Diligence -- Sales and Marketing Due Diligence -- Culture Due Diligence -- Environmental Due Diligence -- Conclusion -- Notes -- Chapter 5: Beyond the Checklists: Founder and Management -- Founder Management Root -- The Founder Background Check -- Other Business Holdings -- Multiple and "Missing" Identities -- Personal Life of the Founder -- Guanxi (Relationship) -- Due Diligence on More Than One Founder -- Summary of Background Check: SWOPEST and Tri-Background -- The SWOPEST Framework -- The Tri-Background Venn Framework -- Conclusion -- Notes -- Chapter 6: Beyond the Checklists: Hard Facts -- Face-to-Face Meetings -- Planning the Meeting -- Proportion Check -- Proportion Checks Examples -- Site Visits -- Planning a Site Visit -- Site Visit at Other Parts of Value Chain -- Due Diligence Goes One Step Deeper: The Four Deadly A's -- 1. Authorization and Control -- 2. Abnormalities -- 3. Anticorruption and Bribery (ACID) -- Core Integrants of ACID Processes and Implementation -- Accounting Frauds and Cheats -- Conclusion -- Notes -- Chapter 7: Implementing a Due Diligence Workflow -- Getting the Mind-Set Right -- Formulating the Due Diligence Strategy.. - Steps 1 and 2: Identify Acquisition Criteria and Targets -- Step 3: Set Acquisition Objectives -- Step 4: Know the Acquisition Target -- Step 5: Identify Business Drivers and Risks -- Step 6: Determine the Time-Cost Details -- Step 7: Prepare the Implementation Plan -- Step 8: Formulate Negotiation Strategy -- Step 9: Plan the Due Diligence Report -- Step 10: Post-Acquisition Review Plan -- Forming a Team -- Starting the Due Diligence Process -- Initial Due Diligence -- Meetings, Visits, and Dinner (First MVD) -- Evaluation and Verification -- Follow-Up Meeting, Visit, and Dinner (Second MVD) -- Evaluation and Verification, Initial Deal Structuring and Negotiation -- Full Due Diligence (FDD) -- Conclusion -- Notes -- Chapter 8: Post Due Diligence and Case Studies -- Preparing the Due Diligence Report -- Due Diligence Outcome Review -- Deal Structuring, Negotiation, and Deal Making -- Post-Acquisition Due Diligence -- Summary Models -- Due Diligence U-Chart -- Galaxy Models -- Final Case Studies -- GOME Electrical Appliances Holding Limited -- NVC Lighting Technology Corporation -- Conclusion -- Notes -- About the Website -- About the Author -- Index.. - A plain-English guide that demystifies the business landscape in China from a due diligence point of view Due diligence is crucial to any business deal, and, thankfully, due diligence research has come a long way over the years. What used to be a cumbersome, time-consuming process has been standardized and systemized with generally accepted auditing frameworks and tools, such as the all-important auditing "checklists." But when it comes to doing due diligence in China, with its opaque regulatory system and byzantine accounting standards, all bets are off. In this book an acknowledged expert in the field takes you beyond the checklists to arm you with China-specific due diligence strategies, tools and techniques that go beyond what is typically part of the process. Gives a detailed account of why conventional frameworks used in the west simply don't work in China Provides first-hand accounts based on the author's years of experience as a private equity professional doing deals in China Reviews, in-depth, the unique differences between corporations and businesses in China and those in the West and their implications for the due diligence process Uses numerous case studies to guide the reader through an entire due diligence process for a firm in China.
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| Emner | |
| Sjanger | |
| Dewey | |
| ISBN | 9781118469040
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