我国工商银行海外并购及并购方价值创造问题研究

发布时间：2018-01-07 05:12

本文关键词：我国工商银行海外并购及并购方价值创造问题研究　出处：《华侨大学》2017年硕士论文　论文类型：学位论文

【摘要】：目前仍在持续的国际银行业第三次并购潮流开始于20世纪90年代,其对我国银行业造成的影响不可忽视。中国于2011年成功地加入WTO,这个事件为中资商业银行的国际化发展同时带来了机遇和挑战。近年来,越来越多的中国企业在响应我国的“走出去”战略,中资商业银行也在顺势积极进行海外业务的拓展。作为国际化经营方式之一,海外并购逐渐被越来越多的商业银行青睐。截至目前,在我国商业银行的所有海外并购活动中,成功的案例虽然已经有很多,但是整个的中国银行业的海外并购经验仍然是比较不足的。以商业银行海外并购的已有理论为基础,为了对我国商业银行的海外并购活动是否为其创造价值的问题进行研究和对商业银行的海外并购活动提供经验借鉴,本文选择对海外并购经验较丰富的工商银行的四个并购案例进行研究,分别是工行2007年并购南非标准银行、工行2009年并购泰国ACL银行、工行2011年并购美国东亚银行、工行2014年并购土耳其银行。本文对海外并购活动中的工商银行的短期价值创造问题和长期价值创造问题进行研究的方法分别是事件研究法和财务指标分析法,并得出以下结论:四次海外并购均在短期内为工商银行创造了价值;工商银行的一系列并购活动使工商银行的盈利能力、营运能力、偿债能力、发展能力和资产质量都得到不同程度的改善。
[Abstract]:The third M & A trend of international banking started in 1990s, and its impact on China's banking industry can not be ignored. China joined the WTO successfully in 2011. This event has brought opportunities and challenges to the internationalization of Chinese commercial banks. In recent years, more and more Chinese enterprises are responding to China's "going out" strategy. As one of the international management methods, overseas M & A has gradually been favored by more and more commercial banks. In all the overseas M & A activities of commercial banks in China, there have been many successful cases. However, the overseas M & A experience of the whole Chinese banking industry is still relatively insufficient, which is based on the existing theories of commercial banks' overseas M & A. In order to study whether the overseas M & A activities of Chinese commercial banks create value for them and to provide experience for the overseas M & A activities of commercial banks. This paper chooses four M & A cases of ICBC, which has rich experience in overseas M & A, namely ICBC M & A South African Standard Bank in 2007 and ICBC M & A ACL Bank in Thailand on 2009. In 2011 ICBC acquired Bank of East Asia. In 2014, ICBC merged with Turkish bank. In this paper, the methods of short-term value creation and long-term value creation of ICBC in overseas M & A activities are event research method and financial index analysis. Law. The conclusions are as follows: four overseas mergers and acquisitions have created value for ICBC in the short term; A series of M & A activities of ICBC have improved the profitability, operating capacity, solvency, development ability and asset quality of ICBC to varying degrees.
【学位授予单位】：华侨大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F271;F832.33

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