本文關(guān)鍵詞： 商業(yè)銀行 海外并購(gòu) 并購(gòu)績(jī)效 影響因素　出處：《江西財(cái)經(jīng)大學(xué)》2012年碩士論文　論文類(lèi)型：學(xué)位論文

【摘要】：隨著經(jīng)濟(jì)一體化和金融全球化、金融業(yè)混業(yè)經(jīng)營(yíng)的需要及國(guó)際業(yè)務(wù)的迅猛發(fā)展,第五次銀行并購(gòu)浪潮席卷全球�？梢灶A(yù)見(jiàn),未來(lái)實(shí)力不斷增強(qiáng)的國(guó)內(nèi)銀行將會(huì)加快海外并購(gòu)的步伐,朝著國(guó)際大型跨國(guó)銀行的方向邁進(jìn)。海外并購(gòu)逐漸成為我國(guó)商業(yè)銀行應(yīng)對(duì)同業(yè)挑戰(zhàn)、走向國(guó)際化經(jīng)營(yíng),提高自身效率的主要途徑。然而,我國(guó)銀行業(yè)海外并購(gòu)真的能如愿提升銀行的績(jī)效和綜合競(jìng)爭(zhēng)力嗎?是否中資銀行都適合海外并購(gòu),以及影響并購(gòu)的因素有哪些,我們?cè)撊绾卫没蚴且?guī)避?因此本文選擇中資銀行海外并購(gòu)能否提高其績(jī)效,以及影響績(jī)效的因素作為研究重點(diǎn),這對(duì)指導(dǎo)我國(guó)商業(yè)銀行海外擴(kuò)張有著重要的理論和實(shí)踐指導(dǎo)意義。 本文以2004-2009年間發(fā)生的中資銀行海外并購(gòu)活動(dòng)為研究對(duì)象,通過(guò)因子分析法測(cè)定了我國(guó)商業(yè)銀行跨國(guó)并購(gòu)的前后各期績(jī)效值,對(duì)前后各期績(jī)效值進(jìn)行了比較分析,得出我國(guó)商業(yè)銀行海外并購(gòu)活動(dòng)并沒(méi)有提升經(jīng)營(yíng)績(jī)效,反而呈現(xiàn)出一定程度的下降態(tài)勢(shì)。其次,運(yùn)用多元線(xiàn)性回歸模型對(duì)銀行海外并購(gòu)方式、并購(gòu)相對(duì)規(guī)模、并購(gòu)銀行流通股所占比例、發(fā)生并購(gòu)后持股比例、收購(gòu)方第一大股東持股比例和對(duì)外貿(mào)易依存度六個(gè)方面影響因素做了實(shí)證分析,得出中資銀行海外并購(gòu)類(lèi)型和其流通股所占比例對(duì)中資銀行海外并購(gòu)所產(chǎn)生的績(jī)效并無(wú)顯著影響,而收購(gòu)后持股比例、交易相對(duì)規(guī)模、收購(gòu)方第一大股東持股比例及外貿(mào)依存度對(duì)中資銀行海外并購(gòu)所產(chǎn)生的績(jī)效具有顯著影響。最后,本文主要從制定海外并購(gòu)長(zhǎng)遠(yuǎn)規(guī)劃、改善我國(guó)商業(yè)銀行海外并購(gòu)的宏觀環(huán)境、合理選擇并購(gòu)對(duì)象和操作方式、重視銀行并購(gòu)后的整合工作四個(gè)方面提出了合理的政策建議。 本文主要?jiǎng)?chuàng)新在于：第一,運(yùn)用因子分析法測(cè)度了商業(yè)銀行并購(gòu)前后的綜合績(jī)效變化值,考察了2004-2009年間具有代表性并購(gòu)行為的樣本銀行績(jī)效值,具有普遍性；第二,著重分析了銀行海外并購(gòu)績(jī)效與其影響因素之間的實(shí)證關(guān)系,這對(duì)未來(lái)我國(guó)銀行業(yè)海外并購(gòu)提供合理戰(zhàn)略選擇具有重要的理論與現(xiàn)實(shí)指導(dǎo)意義。
[Abstract]:With the economic integration and financial globalization, the needs of financial mixed operation and the rapid development of international business, 5th bank mergers and acquisitions wave swept the world. In the future, the increasing strength of domestic banks will speed up the pace of overseas mergers and acquisitions, and move towards the direction of international large transnational banks. Overseas M & A has gradually become our country's commercial banks to deal with the challenges of their peers and to operate internationally. The main way to improve their own efficiency. However, can the overseas M & A of China's banking industry really improve the bank's performance and comprehensive competitiveness? Are Chinese banks suitable for overseas mergers and acquisitions, and what are the factors that affect mergers and acquisitions, and how should we take advantage of them or circumvent them? Therefore, this paper chooses whether the overseas M & A of Chinese banks can improve its performance and the factors affecting its performance, which has important theoretical and practical significance to guide the overseas expansion of Chinese commercial banks. Based on the overseas M & A activities of Chinese banks between 2004 and 2009, this paper measures the performance of Chinese commercial banks before and after cross-border M & A by factor analysis, and makes a comparative analysis on the performance of each period. It is concluded that the overseas M & A activities of commercial banks in China have not improved their business performance, but have shown a declining trend to a certain extent. Secondly, the relative scale of M & A is analyzed by using multiple linear regression models. The paper makes an empirical analysis on the influencing factors, such as the proportion of circulating shares of M & A banks, the proportion of shareholding after M & A, the proportion of ownership of the largest shareholder of the acquirer and the degree of dependence on foreign trade. It is concluded that the types of overseas mergers and acquisitions of Chinese banks and the proportion of their outstanding shares have no significant impact on the performance of overseas mergers and acquisitions of Chinese banks, while the proportion of shares held after acquisition, the relative scale of transactions, The proportion of the largest shareholders and the degree of dependence on foreign trade have a significant impact on the performance of overseas mergers and acquisitions of Chinese banks. Finally, this paper mainly from the formulation of long-term plans for overseas mergers and acquisitions, to improve the macro environment of overseas mergers and acquisitions of commercial banks in China. Reasonable choice of M & A object and mode of operation, pay attention to the integration of bank merger and acquisition of four aspects of reasonable policy recommendations. The main innovations of this paper are as follows: first, using factor analysis method to measure the changes of comprehensive performance of commercial banks before and after mergers and acquisitions, and examining the sample bank performance values of representative mergers and acquisitions from 2004 to 2009, which are universal; second, This paper emphatically analyzes the empirical relationship between the performance of overseas M & A of banks and its influencing factors, which has important theoretical and practical guiding significance for providing reasonable strategic choice for the future overseas M & A of China's banking industry.
【學(xué)位授予單位】：江西財(cái)經(jīng)大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2012
【分類(lèi)號(hào)】：F832.33;F271;F224

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