本文關鍵詞： 商業(yè)銀行 海外并購 并購績效 影響因素　出處：《江西財經(jīng)大學》2012年碩士論文　論文類型：學位論文

【摘要】：隨著經(jīng)濟一體化和金融全球化、金融業(yè)混業(yè)經(jīng)營的需要及國際業(yè)務的迅猛發(fā)展,第五次銀行并購浪潮席卷全球�？梢灶A見,未來實力不斷增強的國內(nèi)銀行將會加快海外并購的步伐,朝著國際大型跨國銀行的方向邁進。海外并購逐漸成為我國商業(yè)銀行應對同業(yè)挑戰(zhàn)、走向國際化經(jīng)營,提高自身效率的主要途徑。然而,我國銀行業(yè)海外并購真的能如愿提升銀行的績效和綜合競爭力嗎?是否中資銀行都適合海外并購,以及影響并購的因素有哪些,我們該如何利用或是規(guī)避?因此本文選擇中資銀行海外并購能否提高其績效,以及影響績效的因素作為研究重點,這對指導我國商業(yè)銀行海外擴張有著重要的理論和實踐指導意義。 本文以2004-2009年間發(fā)生的中資銀行海外并購活動為研究對象,通過因子分析法測定了我國商業(yè)銀行跨國并購的前后各期績效值,對前后各期績效值進行了比較分析,得出我國商業(yè)銀行海外并購活動并沒有提升經(jīng)營績效,反而呈現(xiàn)出一定程度的下降態(tài)勢。其次,運用多元線性回歸模型對銀行海外并購方式、并購相對規(guī)模、并購銀行流通股所占比例、發(fā)生并購后持股比例、收購方第一大股東持股比例和對外貿(mào)易依存度六個方面影響因素做了實證分析,得出中資銀行海外并購類型和其流通股所占比例對中資銀行海外并購所產(chǎn)生的績效并無顯著影響,而收購后持股比例、交易相對規(guī)模、收購方第一大股東持股比例及外貿(mào)依存度對中資銀行海外并購所產(chǎn)生的績效具有顯著影響。最后,本文主要從制定海外并購長遠規(guī)劃、改善我國商業(yè)銀行海外并購的宏觀環(huán)境、合理選擇并購對象和操作方式、重視銀行并購后的整合工作四個方面提出了合理的政策建議。 本文主要創(chuàng)新在于：第一,運用因子分析法測度了商業(yè)銀行并購前后的綜合績效變化值,考察了2004-2009年間具有代表性并購行為的樣本銀行績效值,具有普遍性；第二,著重分析了銀行海外并購績效與其影響因素之間的實證關系,這對未來我國銀行業(yè)海外并購提供合理戰(zhàn)略選擇具有重要的理論與現(xiàn)實指導意義。
[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.
【學位授予單位】：江西財經(jīng)大學
【學位級別】：碩士
【學位授予年份】：2012
【分類號】：F832.33;F271;F224

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