中国工商银行海外并购分析
发布时间：2018-09-17 15:04
【摘要】：中国工商银行自2006年成功上市以来,在世界金融市场上一直占据着领先地位,但一方面随着国内金融市场的逐渐饱和,另一方面国际金融机构不断海外扩张,占据海外市场,迫使中国工商银行必须通过“走出去”战略来扩大自身的市场规模,增强自身在国际上的领先地位,同时学习国际金融机构的先进理念,保持与时俱进。因而本文通过研究中国工商银行的海外并购行为,说明海外并购对工商银行的绩效、经营效率以及股东财富的影响。同时通过分析工商银行在防控风险和制定金融战略方面的经验,从而为中资银行的海外并购提供一些可行性建议。本文在对工商银行海外并购行为分析的过程中,首先回顾关于银行并购的国内外文献,然后结合理论分析对工商银行的海外并购动机、战略以及现状做了具体分析;其次利用“股权收益率模型”对工商银行并购绩效做具体的实证分析,同时结合“案例分析法”和“业绩比较法”对工商银行在并购前后资产质量以及风险防控能力方面作对比,来说明海外并购对工商银行的作用和影响。本文的研究结果表明:工商银行采取控股权的并购方式、并购目标的选择方法、并购之后的整合以及风险防控措施使得其在海外并购之后的绩效、经营效率以及股东财富普遍好于并购之前,说明了工商银行的海外并购取得了很大成功,其并购行为对中资银行的海外扩张也具有很大的借鉴意义。
[Abstract]:Industrial and Commercial Bank of China (ICBC) has occupied a leading position in the world financial market since its successful listing in 2006. On the one hand, with the gradual saturation of the domestic financial market, on the other hand, the international financial institutions continue to expand overseas and occupy the overseas market. Industrial and Commercial Bank of China must expand its market scale through "going out" strategy, strengthen its leading position in the world, and learn the advanced ideas of international financial institutions and keep pace with the times. Therefore, this paper studies the overseas M & A behavior of ICBC, and explains the impact of overseas M & A on ICBC's performance, management efficiency and shareholder wealth. At the same time, through the analysis of ICBC's experience in preventing and controlling risks and formulating financial strategies, it provides some feasible suggestions for overseas mergers and acquisitions of Chinese banks. In the course of analyzing the behavior of overseas M & A of ICBC, this paper first reviews the domestic and foreign literature on M & A, and then makes a concrete analysis of the motivation, strategy and present situation of overseas M & A of ICBC in combination with theoretical analysis. Secondly, the paper makes a concrete empirical analysis on the performance of ICBC M & A by using the equity return model. At the same time, the paper compares ICBC's asset quality and risk prevention and control ability before and after M & A with "case Analysis" and "performance comparison method" to explain the effect and influence of overseas M & A on ICBC. The results of this paper show that ICBC adopts controlling equity M & A, M & A target selection, integration after M & A and risk control measures to make ICBC's performance after overseas M & A. Management efficiency and shareholder wealth are generally better than before M & A, which shows that ICBC has achieved great success in overseas mergers and acquisitions, and its M & A behavior has great significance for overseas expansion of Chinese banks.
【学位授予单位】：首都经济贸易大学
【学位级别】：硕士
【学位授予年份】：2015
【分类号】：F832.33
本文编号：2246288
[Abstract]:Industrial and Commercial Bank of China (ICBC) has occupied a leading position in the world financial market since its successful listing in 2006. On the one hand, with the gradual saturation of the domestic financial market, on the other hand, the international financial institutions continue to expand overseas and occupy the overseas market. Industrial and Commercial Bank of China must expand its market scale through "going out" strategy, strengthen its leading position in the world, and learn the advanced ideas of international financial institutions and keep pace with the times. Therefore, this paper studies the overseas M & A behavior of ICBC, and explains the impact of overseas M & A on ICBC's performance, management efficiency and shareholder wealth. At the same time, through the analysis of ICBC's experience in preventing and controlling risks and formulating financial strategies, it provides some feasible suggestions for overseas mergers and acquisitions of Chinese banks. In the course of analyzing the behavior of overseas M & A of ICBC, this paper first reviews the domestic and foreign literature on M & A, and then makes a concrete analysis of the motivation, strategy and present situation of overseas M & A of ICBC in combination with theoretical analysis. Secondly, the paper makes a concrete empirical analysis on the performance of ICBC M & A by using the equity return model. At the same time, the paper compares ICBC's asset quality and risk prevention and control ability before and after M & A with "case Analysis" and "performance comparison method" to explain the effect and influence of overseas M & A on ICBC. The results of this paper show that ICBC adopts controlling equity M & A, M & A target selection, integration after M & A and risk control measures to make ICBC's performance after overseas M & A. Management efficiency and shareholder wealth are generally better than before M & A, which shows that ICBC has achieved great success in overseas mergers and acquisitions, and its M & A behavior has great significance for overseas expansion of Chinese banks.
【学位授予单位】：首都经济贸易大学
【学位级别】：硕士
【学位授予年份】：2015
【分类号】：F832.33
【参考文献】
相关期刊论文 前3条
1 宋焕政;;论企业海外并购的国家风险及其控制[J];金融法苑;2008年03期
2 孙伯银;;国内银行国际化的机遇和挑战[J];农村金融研究;2008年08期
3 张学超;宣国良;;银行并购的风险分析[J];统计与决策;2007年03期
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