本文選題：市場(chǎng)反應(yīng) + 并購(gòu)效率�。� 參考：《財(cái)會(huì)通訊》2017年29期

【摘要】：本文采用事件研究法和效率分析法研究銀行并購(gòu)保險(xiǎn)公司的績(jī)效具有不一致性,短期市場(chǎng)反應(yīng)與長(zhǎng)期并購(gòu)整合之間產(chǎn)生了矛盾,主要是由于我國(guó)資本市場(chǎng)發(fā)展不完善,內(nèi)幕交易、過(guò)度反應(yīng)、信息泄露等對(duì)并購(gòu)的股東財(cái)富效應(yīng)造成偏差。結(jié)論表明:商業(yè)銀行在并購(gòu)過(guò)程應(yīng)該關(guān)注最終的并購(gòu)整合效率而不是股價(jià)的短期變化,在并購(gòu)保險(xiǎn)公司之前,要確保自身財(cái)務(wù)狀況良好,并選擇規(guī)模適當(dāng)、盈利能力強(qiáng)、有一定關(guān)聯(lián)的并購(gòu)標(biāo)的。
[Abstract]:In this paper, we use the method of event research and efficiency analysis to study the inconsistency of the performance of banks and insurance companies, and the contradiction between short-term market reaction and long-term merger and acquisition integration, mainly due to the imperfect development of the capital market in China. Insider trading, overreaction, information leakage and so on caused deviation to the wealth effect of M & A shareholders. The conclusion shows that commercial banks should pay attention to the integration efficiency of merger and acquisition rather than the short-term change of stock price in the process of M & A. Before acquiring insurance companies, commercial banks should ensure their own financial condition is good, and choose appropriate scale and strong profitability. The subject matter of a merger or acquisition with certain relevance.
【作者單位】： 南京大學(xué)商學(xué)院博士后流動(dòng)站;南京郵電大學(xué)貝爾英才學(xué)院;中央財(cái)經(jīng)大學(xué)會(huì)計(jì)學(xué)院;
【基金】：2017年度江蘇省博士后科研資助計(jì)劃資助項(xiàng)目“商業(yè)銀行并購(gòu)策略及可選并購(gòu)目標(biāo)研究”(項(xiàng)目編號(hào):1701027B)階段性研究成果
【分類號(hào)】：F271;F832.3;F842.3
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本文編號(hào)：1877999