本文選題：金融業(yè)并購 + 中國平安��； 參考：《東華大學》2017年碩士論文

【摘要】：當前,并購已經(jīng)成為中國金融企業(yè)發(fā)展壯大所采取的普遍的戰(zhàn)略方針和政策。企業(yè)兼并與收購不僅可以持續(xù)擴大企業(yè)規(guī)模,提高企業(yè)經(jīng)營效率和搶占市場,逐步實現(xiàn)混業(yè)經(jīng)營的發(fā)展目標,從而進一步推動多元化和國際化的發(fā)展戰(zhàn)略,同時并購也能逐步降低企業(yè)的成本,使企業(yè)獲得更多的利潤。通過對金融業(yè)并購理論和并購行為本身的研究,探討出我國金融業(yè)并購的規(guī)律,有利于促進我國金融業(yè)在未來國際市場中取得優(yōu)勢地位。本文通過對中國平安并購深圳發(fā)展銀行進行并購動因和并購績效兩方面的研究,補充和完善了并購動因和效果的評價體系,有利于進一步探討中國金融業(yè)并購的規(guī)律與問題。第一章介紹了本文的研究背景、研究意義,以及研究內(nèi)容、方法與框架。第二章整理了國內(nèi)外金融業(yè)并購動因和績效的研究理論。第三章首先運用PEST分析方法結(jié)合全國和區(qū)域市場數(shù)據(jù)分析企業(yè)外部市場環(huán)境,其次分別結(jié)合并購前中國平安與深發(fā)展的經(jīng)營數(shù)據(jù)分析企業(yè)內(nèi)部條件,說明本次并購參與各方的并購動因。第四章介紹本次并購的實施過程,換股對價問題與整合情況。第五章呼應(yīng)動因分析,分別從“調(diào)結(jié)構(gòu),補短板,保增長和控風險”四個方面分析本次并購的實施效果。首先運用比率分析法,結(jié)合平安銀行與同業(yè)銀行2006年至2015年十年間各項經(jīng)營數(shù)據(jù),分析本次并購對平安銀行的影響,再由中國平安并購前后經(jīng)營數(shù)據(jù),運用eva(經(jīng)濟增加值)模型分析法和比率分析法,分析本次并購對中國平安的影響,最后對本次并購進行綜合評價,并針對問題給出建議。通過本案例的研究可以發(fā)現(xiàn),金融業(yè)并購雙方的最根本動因是提高利潤和控制風險,通常通過調(diào)整結(jié)構(gòu)和補強短板來實現(xiàn)。中國平安并購深發(fā)展以后,中國平安增強了其銀行業(yè)務(wù),企業(yè)資源分配得到優(yōu)化,平安銀行也成為集團新的穩(wěn)定利潤增長點,而深圳發(fā)展銀行長期以來的資本金不足問題也得到補充,企業(yè)經(jīng)營發(fā)展情況得到改善。但合并后的平安銀行也存在盈利能力降低,風險管理能力變差,以及平安保險與平安銀行交叉銷售情況不佳等問題,需要后續(xù)通過整合來進一步解決。本文希望通過對本次并購的研究,能夠探尋中國金融業(yè)并購的規(guī)律,補充和完善并購動因和并購效果評價的體系與方法,對國內(nèi)金融業(yè)并購動因、績效等相關(guān)領(lǐng)域理論和方法的研究有所推動,為促進我國金融業(yè)并購活動的順利進行提供更為科學的理論依據(jù)和實踐指導,最終達到提升企業(yè)并購效率的目的。
[Abstract]:At present, M & A has become a general strategic policy for the development and growth of Chinese financial enterprises. Mergers and acquisitions can not only continuously expand the scale of enterprises, improve the efficiency of enterprises and seize the market, and gradually realize the development goal of mixed operation, thus further promote the development strategy of diversification and internationalization. At the same time, mergers and acquisitions can gradually reduce the cost of enterprises, so that enterprises gain more profits. Through the study of M & A theory and M & A behavior of financial industry, this paper discusses the law of financial M & A in China, which is helpful to promote our financial industry to gain advantage in the international market in the future. Through the research on the M & A motivation and M & A performance of Shenzhen Development Bank of China Ping an, this paper complements and perfects the evaluation system of M & A motivation and effect, which is helpful to further discuss the rules and problems of M & A in China's financial industry. The first chapter introduces the research background, research significance, research content, methods and framework. The second chapter collates the domestic and foreign financial industry M & A motivation and performance research theory. The third chapter analyzes the external market environment of the enterprise by using pest analysis method and national and regional market data, and then analyzes the internal conditions of the enterprise by combining the management data of Ping an and deep development before M & A, respectively. Explain the M & A motivation of all parties involved in the M & A. Chapter four introduces the implementation process of this merger and acquisition, the consideration of stock exchange and the situation of integration. The fifth chapter analyzes the effect of M & A from four aspects: adjusting structure, mending short board, keeping growth and controlling risk. First of all, using the ratio analysis method, combined with the operating data of Ping an Bank and the interbank bank from 2006 to 2015, this paper analyzes the impact of this merger on Ping an Bank, and then analyzes the management data before and after the merger of Ping an Bank of China. Using eva (Economic value added) model analysis and ratio analysis, this paper analyzes the impact of M & A on China Ping an, and finally makes a comprehensive evaluation of the M & A, and puts forward some suggestions for the problems. Through the case study, we can find that the most fundamental motivation of financial M & A is to improve profits and control risks, usually by adjusting the structure and strengthening the weak board. After the deep development of China Ping an M & A, Ping an of China strengthened its banking business, optimized the distribution of enterprise resources, and Ping an Bank also became a new stable profit growth point of the Group. Shenzhen Development Bank's long-term capital shortage has also been supplemented, and business development has improved. However, after the merger, Ping an Bank also has lower profitability, worse risk management ability, and poor cross-sales situation between Ping an Insurance and Ping an Bank, which need to be further solved through further integration. This paper hopes that through the research of this M & A, we can explore the rules of M & A in China, complement and perfect the system and method of M & A motivation and the evaluation of M & A effect, as well as the M & A motivation of domestic financial industry. The research on the theories and methods of performance and other related fields has been promoted, which provides a more scientific theoretical basis and practical guidance for the smooth development of M & A activities in China's financial industry, and finally achieves the purpose of improving the efficiency of M & A.
【學位授予單位】：東華大學
【學位級別】：碩士
【學位授予年份】：2017
【分類號】：F271;F842.3

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本文編號：2105071