银行业并购后经营业绩实证研究

An Empirical Study of the Operational Performance of Banks Before and After M&A

本文采用实证分析方法对21世纪初参与并购的银行在并购前后的经营绩效状况进行了研究。结果表明,并购后的银行五年内总体业绩低于行业平均水平,盈利能力显著性下降。导致经营不佳的原因是贷款质量控制弱化和成本控制不足。资产向贷款组合的分配转移并未对并购后银行经营业绩的改善发挥很大作用。银行资本与赢利比率密切相关,但对并购后经营业绩变化并未起到显著作用。

This paper empirically studies the operational performance of banks before and after M＆A of banking industry in the early 21 century. The result shows that merged banks had been underperformed the average level and the profitability declined significantly during the first five years following a merger activity. The main cause was that of the poor credit quality control and inadequate cost control. Asset allocation shifting towards loan portfolio did not contribute significantly to the improvement of post-merger performance. Bank capitalization sig- nificantly was correlated with the profitability ratio but its changes in post-merger period were not significant.