中国平安并购深发展经济绩效研究——基于公司理财的视角

本文回顾了"平深恋"的历程,通过对国内外经典文献的梳理,从公司理财视角分析中国平安并购深发展取得并购效益的理论基础,从资本市场反应和公司财务指标变化检验并购经济绩效。研究发现:平安并购深发展具有正向并购效益、平安集团和深发展银行业务仍需进一步整合。"平深恋"也带来了深刻启示:银行业混业经营趋势明显,政府应出台激励性和约束性相容的政策,银行业的并购行为应遵循市场化原则。

Study on the Economic Performance ofPingShen M&A:From a Corporate Finance Perspective

This paper demonstrates the acquisition of Shen Zhen Development Bank by Ping An Corporation from a corporate finance perspective.We test the economic performance of this acquisition from the reaction of the capital market and the change of financial ratios.The results indicate that this acquisition has positive acquisition effect and further possibility of integration.It also implies that the comprehensive operation of commercial banks is a relatively obvious trend.The government should have both incentive...