本文選題：銀行國(guó)際化并購(gòu) + 財(cái)務(wù)風(fēng)險(xiǎn)�。� 參考：《中南林業(yè)科技大學(xué)》2017年碩士論文

【摘要】：隨著全球一體化的不斷深入,我國(guó)企業(yè)國(guó)際化進(jìn)程進(jìn)一步推進(jìn)。銀行作為我國(guó)企業(yè)中的一類特殊企業(yè)--金融領(lǐng)域核心的企業(yè),必須緊跟其發(fā)展步伐,為實(shí)現(xiàn)我國(guó)國(guó)家發(fā)展戰(zhàn)略目標(biāo)而服務(wù),必須加大銀行對(duì)外貿(mào)區(qū)域進(jìn)一步滲透,輔助我國(guó)企業(yè),比如經(jīng)常性資本賬戶的結(jié)算,而國(guó)際化并購(gòu)是實(shí)現(xiàn)這一宏偉目標(biāo)的重要組成部分。但是目前全球市場(chǎng)的貿(mào)易保護(hù)主義抬頭,各國(guó)經(jīng)濟(jì)的發(fā)展結(jié)構(gòu)性差異,銀行國(guó)際化并購(gòu)面臨的環(huán)境變得更為復(fù)雜了。本文首先回顧了對(duì)銀行國(guó)際化并購(gòu)風(fēng)險(xiǎn)類型的研究、銀行國(guó)際化并購(gòu)財(cái)務(wù)風(fēng)險(xiǎn)的評(píng)估方法的研究以及國(guó)內(nèi)學(xué)者對(duì)發(fā)展中國(guó)家銀行國(guó)際化并購(gòu)風(fēng)險(xiǎn)的研究;然后根據(jù)胥朝陽(yáng)等學(xué)者提出的一切風(fēng)險(xiǎn)最終都會(huì)通過(guò)影響財(cái)務(wù)成本而呈現(xiàn)出來(lái),結(jié)合前人的研究以及國(guó)際化并購(gòu)理論、政府干預(yù)理論、信息不對(duì)稱理論和風(fēng)險(xiǎn)管理理論等理論基礎(chǔ)對(duì)我國(guó)銀行國(guó)際化并購(gòu)面臨的財(cái)務(wù)風(fēng)險(xiǎn)進(jìn)行了詳細(xì)的分析。財(cái)務(wù)風(fēng)險(xiǎn)的來(lái)源包括直接因素和間接因素:直接風(fēng)險(xiǎn)因素包括評(píng)估定價(jià)風(fēng)險(xiǎn)、融資風(fēng)險(xiǎn)、支付風(fēng)險(xiǎn)、財(cái)務(wù)整合風(fēng)險(xiǎn)和會(huì)計(jì)操作風(fēng)險(xiǎn)(會(huì)計(jì)操作風(fēng)險(xiǎn)主要是指銀行人員違規(guī)操作給銀行帶來(lái)的財(cái)務(wù)損失風(fēng)險(xiǎn));間接風(fēng)險(xiǎn)因素包括政治風(fēng)險(xiǎn)、法律風(fēng)險(xiǎn)和經(jīng)濟(jì)風(fēng)險(xiǎn)。由于銀行國(guó)際化并購(gòu)是兩個(gè)不同企業(yè)之間的事,所以筆者還考慮到目標(biāo)銀行的財(cái)務(wù)風(fēng)險(xiǎn)也是影響對(duì)其評(píng)估定價(jià)的不可忽略的因素,所以在分析評(píng)估定價(jià)風(fēng)險(xiǎn)時(shí)對(duì)評(píng)估目標(biāo)的財(cái)務(wù)狀況作了詳細(xì)闡述,主要包括四個(gè)方面:資本充足性、資本質(zhì)量、資產(chǎn)流動(dòng)性和發(fā)展能力。再然后,運(yùn)用層次分析法和專家調(diào)查法,建立了包括8個(gè)一級(jí)指標(biāo)、18個(gè)二級(jí)指標(biāo)和4個(gè)三級(jí)指標(biāo)的財(cái)務(wù)風(fēng)險(xiǎn)評(píng)估指標(biāo)體系,之后對(duì)工商銀行并購(gòu)南非標(biāo)準(zhǔn)銀行這一具體案例,運(yùn)用模糊綜合評(píng)價(jià)法對(duì)其國(guó)際化并購(gòu)財(cái)務(wù)風(fēng)險(xiǎn)進(jìn)行了模糊評(píng)價(jià),得出此次國(guó)際化并購(gòu)可行的結(jié)論。最后,根據(jù)文章發(fā)現(xiàn)的問(wèn)題給出了相關(guān)的建議。
[Abstract]:With the deepening of global integration, the internationalization process of Chinese enterprises is further advanced. As one of the special enterprises in our country, which is the core of the financial field, the bank must keep pace with its development. In order to achieve the strategic goal of China's national development, it is necessary to increase the penetration of the banks into the foreign trade areas. To assist Chinese enterprises, such as the settlement of current capital account, international M & A is an important part to achieve this grand goal. But at present, global trade protectionism is on the rise, structural differences in the development of national economies, and the environment facing banks' international mergers and acquisitions has become more complicated. Firstly, this paper reviews the research on the risk types of bank internationalization M & A, the evaluation method of bank internationalization M A financial risk and the domestic scholars' research on the risk of bank internationalization M & A in developing countries. Then, according to Xu Chaoyang and other scholars, all risks will eventually emerge through influencing financial costs. Combined with previous studies and the theory of international mergers and acquisitions, the theory of government intervention, On the basis of information asymmetry theory and risk management theory, the financial risks faced by Chinese banks in international mergers and acquisitions are analyzed in detail. The sources of financial risk include direct and indirect factors: direct risk factors include assessment of pricing risk, financing risk, payment risk, Financial integration risk and accounting operation risk (accounting operation risk mainly refers to the financial loss risk brought by bank personnel illegal operation; indirect risk factors include political risk, legal risk and economic risk. Since the internationalization of bank M & A is a matter between two different enterprises, the author also considers that the financial risk of the target bank is also a factor that can not be ignored to influence the evaluation and pricing of the target bank. Therefore, the financial situation of the evaluation target is described in detail in the analysis and evaluation of pricing risk, including four aspects: capital adequacy, capital quality, asset liquidity and development ability. Then, by using the analytic hierarchy process and the expert investigation method, a financial risk assessment index system is established, which includes 8 first-grade indicators, 18 second-class indicators and 4 third-level indicators. Then, the paper makes a case study of ICBC's merger and acquisition of the South African Standard Bank. The fuzzy comprehensive evaluation method is used to evaluate the financial risk of international M & A, and the conclusion is drawn that this international M & A is feasible. Finally, some suggestions are given according to the problems found in the article.
【學(xué)位授予單位】：中南林業(yè)科技大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2017
【分類號(hào)】：F832.3;F271

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本文編號(hào)：1987550