本文選題：中信銀行 + 銀行國(guó)際化�。� 參考：《山東大學(xué)》2014年碩士論文

【摘要】：2008年金融危機(jī)的爆發(fā)使得眾多國(guó)際知名的金融機(jī)構(gòu)遭遇危機(jī),帶給行業(yè)內(nèi)并購(gòu)重組的機(jī)會(huì),從而引發(fā)了一波銀行業(yè)海外并購(gòu)的浪潮�；仡檯R豐、花旗、渣打這類(lèi)優(yōu)秀跨國(guó)銀行的發(fā)展歷史,都是通過(guò)不斷地進(jìn)行海外并購(gòu)實(shí)現(xiàn)全球業(yè)務(wù)擴(kuò)張和國(guó)際化發(fā)展。順應(yīng)當(dāng)下經(jīng)濟(jì)發(fā)展的趨勢(shì),我國(guó)商業(yè)銀行越來(lái)越多地參與到海外并購(gòu)中,擴(kuò)大業(yè)務(wù)范圍,以增強(qiáng)自身國(guó)際競(jìng)爭(zhēng)力,從而應(yīng)對(duì)日益激烈的市場(chǎng)競(jìng)爭(zhēng)。 根據(jù)并購(gòu)理論,通過(guò)并購(gòu)有助于企業(yè)提升經(jīng)營(yíng)效率、擴(kuò)大市場(chǎng)勢(shì)力、實(shí)現(xiàn)兩個(gè)企業(yè)間的協(xié)同效應(yīng),從而帶來(lái)企業(yè)整體經(jīng)營(yíng)業(yè)績(jī)的上升。然而大量國(guó)內(nèi)外學(xué)者的研究表明,許多銀行間的并購(gòu)并沒(méi)有為銀行帶來(lái)績(jī)效的上升。我國(guó)中小股份制銀行相比大型國(guó)有銀行機(jī)制更靈活,效率更高,更看重并購(gòu)后效率的實(shí)現(xiàn)。因此本文選取中信銀行為代表,使用案例分析的方式對(duì)中信銀行并購(gòu)中信國(guó)金的案例進(jìn)行績(jī)效分析研究,探究此次并購(gòu)能否給中信銀行帶來(lái)業(yè)績(jī)的提升和國(guó)際化進(jìn)程的推進(jìn)。 本文首先簡(jiǎn)述國(guó)際直接投資理論和并購(gòu)理論,為中信銀行并購(gòu)案例分析提供理論基礎(chǔ),同時(shí)綜述國(guó)內(nèi)外學(xué)者對(duì)于銀行跨國(guó)并購(gòu)績(jī)效的研究。接下來(lái)對(duì)中信銀行國(guó)際化發(fā)展的路徑和現(xiàn)狀進(jìn)行闡述與分析,并與大型國(guó)有銀行的國(guó)際化發(fā)展進(jìn)行對(duì)比,為案例提供背景介紹。文章重點(diǎn)介紹了2009年中信銀行并購(gòu)中信國(guó)金的案例,從并購(gòu)概況、并購(gòu)對(duì)象介紹、并購(gòu)動(dòng)因、并購(gòu)方式以及并購(gòu)后整合多方面進(jìn)行案例分析。進(jìn)而構(gòu)建了并購(gòu)績(jī)效評(píng)價(jià)指標(biāo)體系,包含體現(xiàn)中信銀行盈利性、安全性、流動(dòng)性、成長(zhǎng)性和國(guó)際競(jìng)爭(zhēng)力五個(gè)方面的指標(biāo),并運(yùn)用因子分析法和財(cái)務(wù)指標(biāo)分析法對(duì)并購(gòu)績(jī)效進(jìn)行全面評(píng)估。通過(guò)研究本文得出以下結(jié)論：此次并購(gòu)長(zhǎng)期來(lái)看提升了中信銀行的整體業(yè)績(jī),對(duì)國(guó)際化發(fā)展有積極影響,是一次成功的海外并購(gòu)。并購(gòu)后中信銀行的資產(chǎn)規(guī)模、資產(chǎn)質(zhì)量、員工效率以及管理水平有所提升。不過(guò)并購(gòu)當(dāng)年中信銀行的盈利能力、資本充足性和流動(dòng)性有所降低,并購(gòu)后回升并趨于平穩(wěn)。并購(gòu)活動(dòng)在當(dāng)年對(duì)海外業(yè)務(wù)有明顯的促進(jìn)作用,并購(gòu)后三年海外業(yè)務(wù)發(fā)展較慢,海外業(yè)務(wù)盈利情況波動(dòng)較大,并購(gòu)的協(xié)同效應(yīng)沒(méi)有完全體現(xiàn),并購(gòu)的整合工作仍應(yīng)繼續(xù)。鑒于對(duì)中信銀行海外并購(gòu)的分析和總結(jié),文章最后提出關(guān)于如何提升我國(guó)商業(yè)銀行國(guó)際化水平的建議。
[Abstract]:The outbreak of the financial crisis in 2008 led to the crisis of many internationally renowned financial institutions and the opportunity for mergers and acquisitions in the industry, which led to a wave of overseas mergers and acquisitions in the banking industry. The history of the outstanding transnational banks such as HSBC, Citigroup and Standard Chartered have been developed through continuous overseas mergers and acquisitions to achieve global business expansion. With the development of internationalization, China's commercial banks are more and more involved in overseas mergers and acquisitions to expand their scope of business in order to enhance their international competitiveness so as to cope with increasingly fierce market competition.
According to the theory of merger and acquisition, mergers and acquisitions can help enterprises to improve their operating efficiency, expand market forces and achieve synergy between the two enterprises, thus bringing up the overall business performance of the enterprises. However, a large number of domestic and foreign scholars have shown that many of the mergers and acquisitions between banks do not increase the performance of the banks. It is more flexible, more efficient, more efficient and more effective than the large state-owned bank. Therefore, this paper selects CITIC Bank as the representative and uses the case analysis to study the case of CITIC gold merger and acquisition by CITIC Bank, and explore the improvement and internationalization of the merger and acquisition to CITIC Bank. The advancement of the course.
This paper first introduces the theory of international direct investment and the theory of merger and acquisition, and provides a theoretical basis for the case analysis of the merger and acquisition of CITIC banks. At the same time, it summarizes the domestic and foreign scholars' research on the performance of cross-border mergers and acquisitions of banks. Then, it expounds and analyzes the path and current situation of the international development of CITIC Bank, and the international development of the large state-owned banks. The article gives a background introduction to the case. The article focuses on the case of CITIC gold merger and acquisition by CITIC Bank in 2009, from the general situation of M & A, the introduction of M & a object, the motivation of M & A, the way of merger and acquisition and the analysis of the integration after merger and acquisition. Safety, liquidity, growth and international competitiveness of the five indicators, and the use of factor analysis and financial index analysis method to comprehensively evaluate the performance of mergers and acquisitions. Through the study this paper draws the following conclusions: the merger and acquisition in the long run to enhance the overall performance of CITIC Bank, has a positive impact on the international development, is a result After merger and acquisition, CITIC Bank's asset scale, asset quality, employee efficiency and management level have improved. However, the profitability, capital adequacy and liquidity of CITIC Bank in the year of merger and acquisition have been reduced, and after merger and acquisition, the merger and acquisition activities have a significant effect on overseas business, after merger and acquisition. In the past three years, the overseas business has developed slowly, the profit of overseas business fluctuates greatly, the synergy effect of M & A is not fully reflected, and the integration of M & A should continue. In the end, the article puts forward some suggestions on how to improve the international level of China's commercial bank.

【學(xué)位授予單位】：山東大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2014
【分類(lèi)號(hào)】：F271;F832.3

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