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  本文關(guān)鍵詞： 中國工商銀行 跨國并購 并購經(jīng)驗 滯期 并購效率　出處：《寧波大學(xué)》2014年碩士論文　論文類型：學(xué)位論文

【摘要】：跨國并購已經(jīng)成為國內(nèi)銀行業(yè)擴展市場,實現(xiàn)全球化戰(zhàn)略的最重要途徑。并購的最終目的都是為了提高效率,實現(xiàn)利潤增長。跨國并購對銀行效率的影響成為業(yè)界關(guān)心的焦點。中國工商銀行作為國內(nèi)銀行界的龍頭,研究其并購對效率的影響,分析提高并購效率的方法對我國商業(yè)銀行今后的跨國并購有著重要的借鑒意義。論文重點研究了工商銀行的并購效率以及跨國并購對其效率的影響。首先從成本與收益角度分析并購對銀行效率的影響機制。然后運用DEA方法測算2000-2013年間的并購效率,初步分析并購對效率的影響。接著運用Tobit回歸方法,分析并購發(fā)生,并購經(jīng)驗,滯期和銀行內(nèi)部等因素等對效率的影響。之后結(jié)合實證結(jié)果和歷次并購事件分別做案例分析。最后總結(jié)實證結(jié)論,提出提高工商銀行跨國并購效率的啟示與建議。研究結(jié)論表明:跨國并購對工商銀行當(dāng)期的效率影響是負(fù)面的。原因在不同并購事件中是不同的,概括起來有:并購動機并非追求短期財務(wù)效益,支付方式的選擇限制了資金流動,并購經(jīng)驗不足,協(xié)同效率無法短時間實現(xiàn)等;而經(jīng)過2年的調(diào)整,工商銀行可以實現(xiàn)有效率水平,實證表明工行當(dāng)期的效率受前兩期內(nèi)并購的正面影響是顯著的,也就是說工商銀行的并購效率有兩年的滯期;此外并購經(jīng)驗對實現(xiàn)成功并購有重要意義,對銀行效率的提高有顯著影響。總體來看,工行的歷次并購都是成功的,這得益于其長遠(yuǎn)的戰(zhàn)略規(guī)劃,準(zhǔn)確的并購目標(biāo)定位和并購時機的把握。此外,研究表明工行在并購經(jīng)驗的積累,并購頻率的把握以及并購整合工作上可以有更好的表現(xiàn)。
[Abstract]:Cross-border M & A has become the most important way for domestic banks to expand the market and realize the strategy of globalization. The ultimate purpose of M & A is to improve the efficiency. To achieve profit growth, the impact of cross-border mergers and acquisitions on the efficiency of banks has become the focus of attention. Industrial and Commercial Bank of China, as the leader of the domestic banking sector, studies the impact of mergers and acquisitions on efficiency. The analysis of the methods to improve the efficiency of M & A is of great significance to the future cross-border M & A of commercial banks in China. This paper focuses on the M & A efficiency of ICBC and the impact of M & A on its efficiency. This paper analyzes the mechanism of the impact of M & A on bank efficiency from the perspective of income, and then uses DEA method to measure the efficiency of M & A from 2000 to 2013. The effect of M & A on efficiency is analyzed preliminarily. Then, the Tobit regression method is used to analyze the occurrence of M & A and the experience of M A. The impact of delay and internal factors on efficiency. Then combined with empirical results and previous mergers and acquisitions to do case studies. Finally summarize the empirical conclusions. The conclusion shows that the impact of cross-border M & A on the efficiency of ICBC in the current period is negative, and the reasons are different in different M & A events. Generally speaking, the motive of M & A is not to pursue short-term financial benefit, the choice of payment mode limits the fund flow, the experience of M & A is not enough, and the synergetic efficiency can not be realized in a short time. After two years of adjustment, ICBC can achieve the level of efficiency, empirical results show that the efficiency of the current ICBC is significantly affected by M & A in the previous two periods. That is to say, the merger and acquisition efficiency of ICBC has a two-year delay; In addition, M & A experience is of great significance to the success of M & A. and has a significant impact on the improvement of bank efficiency. In general, ICBC's previous mergers and acquisitions have been successful, which is due to its long-term strategic planning. In addition, the research shows that ICBC can perform better in M & A experience, M & A frequency and M & A integration.
【學(xué)位授予單位】：寧波大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2014
【分類號】：F832.33;F271

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本文編號：1487445