中国平安并购深发展动因与实施效果研究

发布时间：2018-07-07 13:14

本文选题：金融业并购 + 中国平安　；参考：《东华大学》2017年硕士论文

【摘要】：当前,并购已经成为中国金融企业发展壮大所采取的普遍的战略方针和政策。企业兼并与收购不仅可以持续扩大企业规模,提高企业经营效率和抢占市场,逐步实现混业经营的发展目标,从而进一步推动多元化和国际化的发展战略,同时并购也能逐步降低企业的成本,使企业获得更多的利润。通过对金融业并购理论和并购行为本身的研究,探讨出我国金融业并购的规律,有利于促进我国金融业在未来国际市场中取得优势地位。本文通过对中国平安并购深圳发展银行进行并购动因和并购绩效两方面的研究,补充和完善了并购动因和效果的评价体系,有利于进一步探讨中国金融业并购的规律与问题。第一章介绍了本文的研究背景、研究意义,以及研究内容、方法与框架。第二章整理了国内外金融业并购动因和绩效的研究理论。第三章首先运用PEST分析方法结合全国和区域市场数据分析企业外部市场环境,其次分别结合并购前中国平安与深发展的经营数据分析企业内部条件,说明本次并购参与各方的并购动因。第四章介绍本次并购的实施过程,换股对价问题与整合情况。第五章呼应动因分析,分别从“调结构,补短板,保增长和控风险”四个方面分析本次并购的实施效果。首先运用比率分析法,结合平安银行与同业银行2006年至2015年十年间各项经营数据,分析本次并购对平安银行的影响,再由中国平安并购前后经营数据,运用eva(经济增加值)模型分析法和比率分析法,分析本次并购对中国平安的影响,最后对本次并购进行综合评价,并针对问题给出建议。通过本案例的研究可以发现,金融业并购双方的最根本动因是提高利润和控制风险,通常通过调整结构和补强短板来实现。中国平安并购深发展以后,中国平安增强了其银行业务,企业资源分配得到优化,平安银行也成为集团新的稳定利润增长点,而深圳发展银行长期以来的资本金不足问题也得到补充,企业经营发展情况得到改善。但合并后的平安银行也存在盈利能力降低,风险管理能力变差,以及平安保险与平安银行交叉销售情况不佳等问题,需要后续通过整合来进一步解决。本文希望通过对本次并购的研究,能够探寻中国金融业并购的规律,补充和完善并购动因和并购效果评价的体系与方法,对国内金融业并购动因、绩效等相关领域理论和方法的研究有所推动,为促进我国金融业并购活动的顺利进行提供更为科学的理论依据和实践指导,最终达到提升企业并购效率的目的。
[Abstract]:At present, M & A has become a general strategic policy for the development and growth of Chinese financial enterprises. Mergers and acquisitions can not only continuously expand the scale of enterprises, improve the efficiency of enterprises and seize the market, and gradually realize the development goal of mixed operation, thus further promote the development strategy of diversification and internationalization. At the same time, mergers and acquisitions can gradually reduce the cost of enterprises, so that enterprises gain more profits. Through the study of M & A theory and M & A behavior of financial industry, this paper discusses the law of financial M & A in China, which is helpful to promote our financial industry to gain advantage in the international market in the future. Through the research on the M & A motivation and M & A performance of Shenzhen Development Bank of China Ping an, this paper complements and perfects the evaluation system of M & A motivation and effect, which is helpful to further discuss the rules and problems of M & A in China's financial industry. The first chapter introduces the research background, research significance, research content, methods and framework. The second chapter collates the domestic and foreign financial industry M & A motivation and performance research theory. The third chapter analyzes the external market environment of the enterprise by using pest analysis method and national and regional market data, and then analyzes the internal conditions of the enterprise by combining the management data of Ping an and deep development before M & A, respectively. Explain the M & A motivation of all parties involved in the M & A. Chapter four introduces the implementation process of this merger and acquisition, the consideration of stock exchange and the situation of integration. The fifth chapter analyzes the effect of M & A from four aspects: adjusting structure, mending short board, keeping growth and controlling risk. First of all, using the ratio analysis method, combined with the operating data of Ping an Bank and the interbank bank from 2006 to 2015, this paper analyzes the impact of this merger on Ping an Bank, and then analyzes the management data before and after the merger of Ping an Bank of China. Using eva (Economic value added) model analysis and ratio analysis, this paper analyzes the impact of M & A on China Ping an, and finally makes a comprehensive evaluation of the M & A, and puts forward some suggestions for the problems. Through the case study, we can find that the most fundamental motivation of financial M & A is to improve profits and control risks, usually by adjusting the structure and strengthening the weak board. After the deep development of China Ping an M & A, Ping an of China strengthened its banking business, optimized the distribution of enterprise resources, and Ping an Bank also became a new stable profit growth point of the Group. Shenzhen Development Bank's long-term capital shortage has also been supplemented, and business development has improved. However, after the merger, Ping an Bank also has lower profitability, worse risk management ability, and poor cross-sales situation between Ping an Insurance and Ping an Bank, which need to be further solved through further integration. This paper hopes that through the research of this M & A, we can explore the rules of M & A in China, complement and perfect the system and method of M & A motivation and the evaluation of M & A effect, as well as the M & A motivation of domestic financial industry. The research on the theories and methods of performance and other related fields has been promoted, which provides a more scientific theoretical basis and practical guidance for the smooth development of M & A activities in China's financial industry, and finally achieves the purpose of improving the efficiency of M & A.
【学位授予单位】：东华大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F271;F842.3

【参考文献】