基于SFA方法的亚洲新兴市场经济体银行并购效率研究  

Case Study on the M&A Efficiency of Asian Banks With SFA

作　　者：马君潞[1] 陈科[1] 吕剑[1] 冯学峰[1] 

机构地区：[1]南开大学经济学院,天津300071

出　　处：《财经理论与实践》2008年第2期12-16,共5页The Theory and Practice of Finance and Economics

摘　　要：运用随机边界分析法(即SFA),采用亚洲新兴市场经济体的银行并购样本,实证分析并购行为对促进银行成本效率和利润效率的改善情况。研究结果表明:亚洲新兴市场间的银行并购行为显著改善了并购方银行的利润效率,但与国内银行并购相比跨国并购的改善程度较为逊色;同时,多数股权并购与少数股权并购在促进并购方银行效率方面并无明显区别。Using the Stochastic Frontier Approach（SFA）, this study examines both cost and profit efficiency effects of bank M＆A with cases from six Asia Emerging Market Economies. The results indicate that acquisitions can significantly improve the profit efficiency of the acquiring banks. However, the improvement in cross- border acquisitions is less than in domestic acquisitions. But there is no significant difference in the improvement between the acquisitions of a majority stake and the acquisitions of a minority stake.

关 键 词：亚洲新兴市场经济体 银行并购 随机边界分析法 

分 类 号：F831.2[经济管理—金融学]