银行并购保险公司的市场反应与并购效率一致吗

发布时间：2018-05-12 09:07

  本文选题：市场反应 + 并购效率　； 参考：《财会通讯》2017年29期

【摘要】：本文采用事件研究法和效率分析法研究银行并购保险公司的绩效具有不一致性,短期市场反应与长期并购整合之间产生了矛盾,主要是由于我国资本市场发展不完善,内幕交易、过度反应、信息泄露等对并购的股东财富效应造成偏差。结论表明:商业银行在并购过程应该关注最终的并购整合效率而不是股价的短期变化,在并购保险公司之前,要确保自身财务状况良好,并选择规模适当、盈利能力强、有一定关联的并购标的。
[Abstract]:In this paper, we use the method of event research and efficiency analysis to study the inconsistency of the performance of banks and insurance companies, and the contradiction between short-term market reaction and long-term merger and acquisition integration, mainly due to the imperfect development of the capital market in China. Insider trading, overreaction, information leakage and so on caused deviation to the wealth effect of M & A shareholders. The conclusion shows that commercial banks should pay attention to the integration efficiency of merger and acquisition rather than the short-term change of stock price in the process of M & A. Before acquiring insurance companies, commercial banks should ensure their own financial condition is good, and choose appropriate scale and strong profitability. The subject matter of a merger or acquisition with certain relevance.
【作者单位】： 南京大学商学院博士后流动站;南京邮电大学贝尔英才学院;中央财经大学会计学院;
【基金】：2017年度江苏省博士后科研资助计划资助项目“商业银行并购策略及可选并购目标研究”(项目编号:1701027B)阶段性研究成果
【分类号】：F271;F832.3;F842.3
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本文编号：1877999