我国商业银行海外并购绩效的实证研究

An Empirical Study of Overseas M & A Performance in China's Commercial Banks

本文运用事件研究法、财务指标法对中国银行并购新加坡飞机租赁公司这一事件进行了实证分析。研究结果表明:并购发生的短期内,银行的股价会发生大幅度的波动,股权收益率发生不同程度的变化;在并购发生的当年以及随后的一年,各项财务指标都会出现不同程度的下降,但经过一段时间的经营和整合,银行的各项财务指标都会有所回升,最后实现不同程度的经济效益。

This paper uses the event study and financial indicators method to empirically analyze the event of the Bank of Chinamergers and acquisitions the Singapore Aircraft Leasing Enterprise. The results show that, the short-term in M ＆ A, the share priceof bank occurs significantly fluctuations and ROE has different degrees of change. In the year of M ＆ A and next year, financialpressure and delays caused by the merger integration, the financial indicators have varying degrees of decline. But after a period ofoperation and integration, the financial indicators of banks will rebound. Finally, it achieves different levels of economic.