基于DEA的中资银行海外并购效率研究

发布时间：2018-12-08 16:13

【摘要】：20世纪以来，为了争夺战略资源和21世纪金融业主导权，许多银行将战略重点转移到外部扩展上，通过不遗余力地兼并重组，以获取竞争优势。随着国际化并购重组规模的不断壮大，银行业已逐步成为全球并购市场的热点行业。近年来中资银行也在积极探索其国际化之路，并且在海外并购方面进行了尝试。本文通过分析中资银行海外并购对其经营绩效的影响，来进一步探讨如何通过跨国并购来实现其经营绩效的提高，以求促进中资银行并购活动的有序开展，不断提升中资银行的核心竞争力。这也是顺应经济、金融全球化发展趋势，，符合中国国家政治、经济利益的。论文首先对银行并购的基本含义作了界定，并以此为基础对上世纪三次银行并购进行基本分析。为了把握宏观环境因素对中资银行海外并购的影响，论文对中资银行并购所面临的宏观环境进行了分析，以提高中资银行并购效率。借鉴英国学者格里·约翰逊（GerryJohnson）和凯万·斯科尔斯（Kevan Schole）1998年在其著作《公司战略教程》中提出的PEST分析法,分别从政治或法律因素（politics）、经济因素（econom）、社会文化因素（society）和技术因素（technology）这四方面来着手建构中资银行海外并购的宏观环境因素。通过分析验证宏观环境对银行并购效率的影响。论文对中资银行海外并购效率进行了实证分析。运用数据包络分析法（DEA）对并购案例进行分析，实证结果表明中资银行的成本效率在海外并购前后与时间的变化相互交错在一起，海外并购对中资银行的成本效率并没有明显的促进作用，反而由于并购后整合出现问题其成本效率有所降低，但并不明显。基于前面分析的结论，论文对中资银行海外并购现状进行了总结阐述。并在此基础上提出了提高中资银行海外并购效率的对策建议。
[Abstract]:Since the 20th century, in order to compete for the strategic resources and the dominant power of the financial industry in the 21st century, many banks have shifted their strategic emphasis to the external expansion, and spared no effort to acquire the competitive advantage by annexing and reorganizing. With the expansion of the scale of international M & A, the banking industry has gradually become a hot industry in the global M & A market. In recent years, Chinese banks are actively exploring the way of internationalization, and have made attempts in overseas mergers and acquisitions. By analyzing the influence of overseas M & A of Chinese banks on their business performance, this paper further discusses how to improve their business performance through cross-border M & A, in order to promote the orderly development of M & A activities of Chinese banks. Improve the core competitiveness of Chinese banks. This is also in line with the trend of economic and financial globalization, in line with China's national political and economic interests. Firstly, the paper defines the basic meaning of bank M & A, and analyzes the three M & A in the last century. In order to grasp the impact of macro environmental factors on overseas mergers and acquisitions of Chinese banks, this paper analyzes the macro environment faced by Chinese banks' mergers and acquisitions in order to improve the efficiency of mergers and acquisitions of Chinese banks. Based on the analysis of PEST proposed by British scholars Gerry Johnson (GerryJohnson) and Keven Scholes (Kevan Schole) in their 1998 book "A tutorial on Corporate Strategy", this paper analyzes the political or legal factors of (politics), economic factor (econom), respectively. The social and cultural factors (society) and the technical factor (technology) are four aspects to construct the macro environmental factors of overseas M & A of Chinese banks. Through analysis to verify the impact of macro environment on the efficiency of bank mergers and acquisitions. This paper makes an empirical analysis on the efficiency of overseas mergers and acquisitions of Chinese banks. The empirical results show that the cost efficiency of Chinese banks is intertwined with time before and after overseas mergers and acquisitions by using data Envelopment Analysis (DEA). Overseas M & A has no obvious promoting effect on the cost efficiency of Chinese banks. On the contrary, the cost efficiency of overseas M & A is lower than that of Chinese banks due to the problem of integration after merger and acquisition, but it is not obvious. Based on the conclusions of the previous analysis, the paper summarizes the status of overseas M & A of Chinese banks. On this basis, the paper puts forward countermeasures and suggestions to improve the efficiency of overseas mergers and acquisitions of Chinese banks.
【学位授予单位】：山东财经大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F832.2;F224

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