后金融危机背景下我国商业银行跨国并购绩效研究
发布时间：2018-07-28 20:17
【摘要】：纵观国际银行业的发展历程,众多国际银行巨头都是通过不断地跨国并购而壮大自身的。中国商业银行的跨国经营,既是经济全球化和金融一体化的国际大环境的要求,也是我国经济国际化发展战略的必然选择。“后金融危机时代”国外金融机构实力的削弱以及近年来人民币不断升值导致的跨国并购成本降低,给我国商业银行的跨国并购创造了绝佳的机会。 本文首先回顾了商业银行跨国并购的动因、方法、分支机构的组织结构选择和绩效评估的基础理论,其中介绍了本文实证研究所使用的DEA方法的基础理论、模型理论、优势与局限。接着本文回顾了近年来我国商业银行跨国并购的现状。然后运用DEA方法对中国工商银行和招商银行跨国并购前后的经营效率进行实证分析。实证结果显示两家银行在跨国并购后,总体效率都有一定程度的下降,但是招商银行却比工商银行更迅速地恢复到了最优效率。究其原因,笔者认为与两家银行的体制、并购目标的选择与整合方法的合理性有着密切的联系。最后,本文从微观与宏观两个方面对我国商业银行的跨国并购提出了对策与建议。
[Abstract]:Throughout the development of the international banking industry, many international banking giants are growing through continuous cross-border mergers and acquisitions. The transnational management of Chinese commercial banks is not only the requirement of the international environment of economic globalization and financial integration, but also the inevitable choice of our country's economic internationalization development strategy. The weakening of the strength of foreign financial institutions in the post-financial crisis era and the decrease in the cost of cross-border mergers and acquisitions caused by the continuous appreciation of the RMB in recent years have created an excellent opportunity for the cross-border mergers and acquisitions of commercial banks in China. This paper first reviews the motivation, methods, organizational structure selection and performance evaluation of commercial banks in cross-border mergers and acquisitions, and introduces the basic theory and model theory of the DEA method used in this empirical study. Advantages and limitations Then this paper reviews the status quo of cross-border mergers and acquisitions of commercial banks in China in recent years. Then we use DEA method to analyze the management efficiency of ICBC and CMB before and after cross-border M & A. The empirical results show that the overall efficiency of the two banks has declined to some extent after cross-border M & A, but China Merchants Bank has recovered to the optimal efficiency more quickly than ICBC. The author thinks that the choice of M & A target and the rationality of integration method are closely related to the system of the two banks. Finally, this paper puts forward the countermeasures and suggestions on cross-border M & A of commercial banks in China from micro and macro aspects.
【学位授予单位】：华东师范大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.33
本文编号：2151456
[Abstract]:Throughout the development of the international banking industry, many international banking giants are growing through continuous cross-border mergers and acquisitions. The transnational management of Chinese commercial banks is not only the requirement of the international environment of economic globalization and financial integration, but also the inevitable choice of our country's economic internationalization development strategy. The weakening of the strength of foreign financial institutions in the post-financial crisis era and the decrease in the cost of cross-border mergers and acquisitions caused by the continuous appreciation of the RMB in recent years have created an excellent opportunity for the cross-border mergers and acquisitions of commercial banks in China. This paper first reviews the motivation, methods, organizational structure selection and performance evaluation of commercial banks in cross-border mergers and acquisitions, and introduces the basic theory and model theory of the DEA method used in this empirical study. Advantages and limitations Then this paper reviews the status quo of cross-border mergers and acquisitions of commercial banks in China in recent years. Then we use DEA method to analyze the management efficiency of ICBC and CMB before and after cross-border M & A. The empirical results show that the overall efficiency of the two banks has declined to some extent after cross-border M & A, but China Merchants Bank has recovered to the optimal efficiency more quickly than ICBC. The author thinks that the choice of M & A target and the rationality of integration method are closely related to the system of the two banks. Finally, this paper puts forward the countermeasures and suggestions on cross-border M & A of commercial banks in China from micro and macro aspects.
【学位授予单位】：华东师范大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.33
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