银行跨国并购动因分析

【作者】 郭宝宁；

【导师】 刘德煌；

【作者基本信息】 厦门大学 ， 金融学， 2002， 硕士

【摘要】 伴随着全球范围内第五次企业并购浪潮的发生，银行跨国并购经历了其第二次浪潮。由于银行跨国并购真正成为世界经济中的一个重要经济现象的时间还不长，所以尚有许多值得研究的地方，例如：银行为什么在跨国并购和跨国创建这两种海外扩张方式上倾向于选择前者?普遍的银行跨国并购的动因是什么?我国加入世界贸易组织后，我国金融业将与世界金融业更加紧密的融合，这将推动以银行为主体的金融活动跨越国界，由局部地区性的传统业务活动发展成为全球性的、创新性的业务活动。中国银行业经营国际化是金融全球化的时代潮流和社会经济发展规律的内在要求，也是中国加入世界贸易组织后国内银行所无法回避的重大课题，对中国商业银行未来的生存和发展具有战略意义。我国商业银行在跨国并购方面可有何作为?我国应如何建立和完善外资银行并购管理制度?本文试图对以上问题进行回答。全文共计四章。 第一章是对银行跨国并购的简要介绍。在简单介绍了本文的讨论主题后，文章对跨国并购浪潮进行了历史回顾。到目前为止，银行跨国并购浪潮共发生两次，20世纪90年代以来的银行跨国并购浪潮影响范围更为广泛。本文接着比较了银行跨国并购的优、缺点，以期对银行跨国并购有个更为清楚的认识。 第二章试图运用主要企业并购理论来解释银行跨国并购的动因。本文分别对规模经济理论、市场势力论、代理人扩张动机论和财务协同效应论进行了介绍和评析。由于企业并购理论的不同流派是从不同角度对并购动因的阐释，本文认为并购理论不能令人满意得给出银行跨国并购的动因。 第三章借助“因素分析法”，以商业银行进行并购性海外扩张决策过程为出发点，根据对90年代世界经济一体化、金融自由化大背景下与银行跨国并购相关的主要因素的考察，分析与银行跨国并购这一行为有关的需要、动机及目标，以较为完整地对银行跨国并购动因做出解释。 第四章在前面理论分析的基础上，结合我国银行业的现状，分别对大、中小型银行在跨国并购方面的对策措施进行分析，然后就我国管制外资银行并购法律制度的建立提出改革建议。更多还原

【Abstract】 Along with the fifth M&A wave of corporation in the global scope, the second cross-border M&A of banking has been going through. Because of the brevity since it became a very important economic phenomenon, there is a lot to study, for example, why did the banks prefer cross-border M&A of banking to Greenfield investment? What caused the cross-border M&A of banking to happen in common? Since our country has been a member of World Trade Organization (WTO), our financing industry will be mixed together to the world more rapidly and intensely, which stirs the financial activities with banking activities as the body across national boundary to be global ones. What shall the commercial banks do in the cross-border M&A? what shall we do to establish and consummate the management system for cross-border M&A of foreign-capital banks? This dissertation is to solve the above questions and it consists of four chapters.Chapter 1 provides a critical recommend on the cross-border M&A of banking. After the short presentation of the dissertation topic, a historical review of cross-border M&A of banking has been given. In order to get an explicit knowledge of it, the advantage and shortness have been discussed successively.Chapter 2 elaborates the existing mainly M&A theory and analyzes the applicability for cross-border M&A of banking. Because the theories deliberate M&A from different point of view separately, it is considered that they can’t give a satisfactory and overall explanation to cross-border M&A of banking.Chapter 3 is devoted to "factor-analysis theory". It is based on the commercial banks’ decision-making process to cross-border M&A. through studying the need, motivation and target of cross-border and analyzing the main factors related to it, the writer try to give a logical and full explanation to the cause of cross-border M&A of banking.Chapter 4 provides an analysis on our commercial banks’ reflection to the international cross-border M&A and it also gives a consideration about the establishment of management system to foreign-capital banks’ merging our commercial banks.更多还原