中资银行跨国并购的多元动机及其博弈决策分析  

Multiple Motivations and Game Decision of Chinese Capital Bank's Transnational Merger and Acquisition

作　　者：刘瑞波[1,2] 潘光杰 许佑民 LIU Ruibo;PAN Guangjie;XU Youmin(School of Finance, Shandong University of Finance and Economics, Jinan 250014, China;Yanshan College, Shandong University of Finance and Economics, Jinan 250202, China;Shandong Social Security Fund Council, Jinan 250000, China;Shandong HOWO Auto Finance Co., Ltd, Jinan 250101, China)

机构地区：[1]山东财经大学金融学院,山东济南250014 [2]山东财经大学燕山学院,山东济南250202 [3]山东省社会保障基金理事会,山东济南250000 [4]山东豪沃汽车金融有限公司,山东济南250101

出　　处：《山东财经大学学报》2018年第3期51-60,共10页Journal of Shandong University of Finance and Economics

基　　金：国家社会科学基金项目"中资银行跨境并购的绩效检验及路径选择研究"(16BGL045)

摘　　要：金融危机后,中国经济发展进入新常态,经济增速由投资驱动转向创新驱动。为适应新常态,加快推进国际化进程,中资银行跨国并购数量逐渐增多、规模明显增大。面对复杂的国际金融形势与银行业内部改革进程,危机后中资银行跨国并购表现出多元化的趋势。中资银行跨国并购过程中固定成本与固定收益差额的大小,既能影响中资银行跨国并购的收益,又能影响国外银行的策略选择。实施跨国并购后,中资银行通过吸收借鉴国外先进管理技术、开拓国际新业务,可提高跨国并购收益;通过优化并购方式、减少并购阻力与摩擦,可降低跨国并购成本。After the financial crisis,China economic development has entered a new normal and its economic growth has shifted from investment drive to innovation drive. In order to adapt to the new normal,Chinese capital banks accelerate the internationalization process and the number of transnational mergers and acquisitions increase gradually while their scale increases significantly. Faced with the complex international financial situation and the internal reform process of the banking industry,the transnational mergers and acquisitions of Chinese capital banks after the crisis present multiple motivations. The size of the difference between fixed cost and fixed income in the process of transnational mergers and acquisitions of Chinese banks can not only affect the income of Chinese capital banks after transnational mergers and acquisitions,but also influence the strategy choice of foreign banks. After the implementation of transnational mergers and acquisitions,Chinese capital banks can increase their transnational MA profits by absorbing advanced foreign management technologies and developing new international businesses,and reduce the cost of transnational mergers and acquisitions by optimizing the mode of MA and cutting down the resistance and friction of MA.

关 键 词：中资银行 跨国并购 并购动机 博弈决策 

分 类 号：F830.33[经济管理—金融学]