我国商业银行跨国并购的动因和风险分析

发布时间：2018-07-05 19:17

本文选题：商业银行 + 跨国并购　；参考：《武汉理工大学》2012年硕士论文

【摘要】：国际金融危机下,欧美银行遭受沉重打击,而中资银行金融动荡的冲击较小,面临着并构成本下降的诱惑,随着金融危机的进一步深化,银行业并购交易也在不断升温。对于资本实力相对充足,资产质量相对安全,希望融入全球金融体系的中资银行而言,金融危机也孕育着很多机遇。本文以跨国投资理论为基础,对银行跨国并购动因和影响因素进行梳理与分析。以2008年招商银行并购永隆银行为例,整理计算了并购前三年到后三年的十五个指标数据,运用SPSS的因子分析法,进行因子分类,整理出并购这一活动对银行的各方面影响,进而确定理论中的动因在实际上是否成立,以及从银行绩效得出的该规避的风险。本文总共分为七个章节。第一章为绪论,阐述了研究背景,目的,意义和研究方法及路线。第二章为理论部分,先对跨国银行进行界定,并购类型进行分类然后从效益理论,市场势力理论和讯息信号理论三个方面进行描述。第三章分析我国跨国并购的动因。首先通过列出1998年到2010年中国商业银行跨国并购的案例来呈现其发展历程,然后从内部动因,外部动因两个方面进行我国银行业跨国并购的动因分析。其中内部动因包括过剩资金的配置,银行自身盈利能力的提高,中资银行布局的完善,业务领域和服务范围的扩大；外部动因包括有利的国际金融市场背景,跟随客户进军海外一体化发展,中国政府的大力支持和中资银行的外国战略投资者有效地支持。第四章主要分两大部分,第一大部分是从并购银行的财务风险,进入东道国的风险,银行并购的整合风险三个方面来分析银行业跨国并购的风险。第二大部分则是针对中资银行的跨国并购特有的风险。其中包括：中国银行也在海外业务的话语权,中资银行缺乏清晰而长远的国际化战略,中资跨国银行和中国跨国公司没有形成集聚效应,中资银行面临较大的管理风险和国际经营人才的缺乏。第五章是外国银行业的跨国并购给中国的经验借鉴。第六章从定量的角度讲,文章以2008年招商银行并购永隆银行为例,整理计算了并购前三年到后三年的十五个指标数据,运用SPSS的因子分析法,进行因子分类,整理出并购这一活动对银行的各方面影响。最后一章是结束语,目标和路径的选择上来阐述中国银行业跨国并购的启示。全文通过分析中国银行业跨国并购的动因和特有风险,借助实证分析案例得出并购目标和路径的选择的相关结论。
[Abstract]:Under the international financial crisis, the European and American banks suffered a heavy blow, while the financial turbulence of the Chinese banks was relatively small, facing the temptation of this decline, with the further deepening of the financial crisis, banking M & A transactions are also heating up. For Chinese banks with relatively abundant capital, relatively safe asset quality and a desire to integrate into the global financial system, the financial crisis also breeds many opportunities. Based on the theory of transnational investment, this paper analyzes the causes and influencing factors of cross-border mergers and acquisitions of banks. Taking China Merchants Bank's acquisition of Yonglong Bank in 2008 as an example, this paper collates and calculates the 15 index data from the first three years to the last three years of M & A. By using the factor analysis method of SPSS, it classifies the factors, and collates the influence of M & A on the banks in all aspects. Then determine whether the theory of motivation in practice, and from the bank performance to avoid the risk. This paper is divided into seven chapters. The first chapter is the introduction, the research background, purpose, significance and research methods and routes. The second chapter is the theoretical part, which firstly defines the multinational banks, classifies the types of mergers and acquisitions and then describes them from three aspects: benefit theory, market power theory and information signal theory. The third chapter analyzes the motivation of transnational M & A in China. Firstly, it presents the development course of Chinese commercial banks by listing the cases of cross-border M & A from 1998 to 2010, and then analyzes the causes of cross-border M & A in China's banking industry from two aspects: internal motivation and external motivation. The internal motivations include the allocation of excess funds, the improvement of the profitability of banks, the perfection of the layout of Chinese banks, the expansion of the scope of business and services. With the development of overseas integration, the support of Chinese government and foreign strategic investors of Chinese banks is effective. The fourth chapter is mainly divided into two parts. The first part is to analyze the risk of cross-border M & A in banking industry from three aspects: the financial risk of M & A, the risk of entering into the host country and the risk of integration of bank M & A. The second part is the specific risk of cross-border M & A for Chinese banks. These include: the Bank of China also has a voice in overseas business, the Chinese banks lack a clear and long-term international strategy, and the Chinese multinational banks and Chinese multinational corporations have not formed a cluster effect. Chinese banks face greater management risks and lack of international management personnel. The fifth chapter is the experience of cross-border mergers and acquisitions of foreign banks to China. The sixth chapter takes China Merchants Bank's merger of Yonglong Bank in 2008 as an example, collates and calculates the 15 index data from three years to three years after M & A, and uses the factor analysis method of SPSS to classify the factors. Sort out the effect of M & A on all aspects of the bank. The last chapter is the conclusion, goal and path to illustrate the implications of cross-border mergers and acquisitions in China's banking industry. Based on the analysis of the causes and special risks of cross-border M & A in China's banking industry, this paper draws a conclusion on the choice of M & A target and path with the help of empirical analysis cases.
【学位授予单位】：武汉理工大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F832.33;F271

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