银行跨国并购影响力研究——基于宏观经济、产业结构与制度环境的视角  

International empirical study on the influential factors of the cross-border M&A of banks

作　　者：许世瑛[1] 李宏涛[2] 

机构地区：[1]河北经贸大学市场经济学院,河北石家庄050061 [2]中共深圳市委办公厅,广东深圳518000

出　　处：《河北经贸大学学报》2011年第6期79-86,共8页Journal of Hebei University of Economics and Business

摘　　要：宏观经济、产业结构和政策制度对银行跨国并购的并购方和被并购方都具有显著影响,但仅仅考量单个环境对跨国并购的影响,往往会夸大影响因素的作用力。为此,通过综合考察三类环境因素对跨国并购的影响,发现母国的经济规模、银行产业发达程度、银行制度完善程度以及母国与东道国经济一体化程度是影响银行跨国并购的并购方的决定性因素;而对于银行跨国并购中被并购银行的决定性因素则有所不同,主要是东道国与母国经济一体化程度以及东道国银行产业的发展情况,而与东道国经济发展程度和制度完善程度无关。Cross-border M＆A has been a dominating pattern of foreign market entry of the bank. Based on the sample of more than 2300 cross-border M＆A of bank during the past 20 years, this paper analyzes the environment of economy, industry and institution between the home country and the host country which affect the cross-border M＆A of bank. Our empirical study indicates that the environment of economy, industry and institution have distinct influence on the acquire and the target of cross-border M＆A. Moreover, the crucial factors affecting the acquire of the cross-border M＆A include the economic scale, the development degree of the banking industry and the perfect degree of the banking institution in home country, as well as the degree of economic integration between the host country and the home country; It is different about the crucial factors affecting the target of the cross-border M＆A which include the development of the banking in the host country and the degree of economic integration between the host country and the home country, and have no relationship with the development degree of the economy and institution in the host country.

关 键 词：银行跨国并购 宏观经济 产业环境 制度环境 

分 类 号：F830[经济管理—金融学]