基于经济周期波动的我国银行业并购重组的研究

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1、AbstractSincethereformandopeningup，China’Sbankingindustryhasexperiencedtheseparationofthefourmajorstate-ownedcommercialbanks，joint·stockcommercialbanks,theriseofjoint-stockreformofstate-ownedcommercialbanksandlisting,alongwiththisseriesofreformprocessaretherestructuringofthebankingindustryM&Aact

2、ivities．Throughmergersandacquisitionsrestructuringactivities，M&Abankcallre-configureandaccessto．resources．thustoenhancetheperformanceofM&Abank．China’sbanksmajortotakestrategicM&Atoexpandbusinessandnetworkre．sources．improvetheoverallcompetitiveness．Economicglobalization,financialliberalizationand

3、therapiddevelopmentofmultinationalcompaniesfurtherimpetustothepaceofmergerandreorganizationofChina’Sbankingindustry．AsChina'sbankingmarketandtheinternationalizationaccelerationoftheprocess，thebankingindustrymergersandacquisitionswillalsobemarket-orientedmanner,andmoreemphasisOnmergersandacquisit

4、ionstoimproveperformance．From1983to2009,Chinahasgonethroughfoureconomiccycles,alsoexperiencedfourbankingcyclefluctuations．Firstofall，thispaperattemptsusingprincipalcomponentanalysistodeterminethebankingcycle,anddiscusestheeconomiccycleandtheconvergenceofthebankingcycle；Secondly,thispaperdescribe

5、stheChina’sbankingindustrymergerandreorganizationprocessofthefoureconomiccyclesfromthe1983，emphasisonthefourstagesofthefourtheconomiccycle，therealitiesfacedbyChina'sbankingindustrymergersandacquisitions,thenpresentstheChina'sbankingmergersandacquisitionsstrategyandmodeselection，furtherclarifythe

6、strategicdirectionofChina'sbankingindustrymergersandacquisitions；Again，thispaperdisusetheseriesofmergersandacquisitionsactivitiesoftheIndustrialandCommercialBankofChinainthefourtheconomiccycle,usingreturnonequityratemodelobtained,underthesoundrisk-controlsystem，themergersandacquisitionsofChinaba

7、nkstopromotetheimprovementofperformanceofthroughenhancementofprofitmargins．Finally,theglobalspreadoftheinternationalfinancialcrisis,thepaperanalysisofthemajorbanksinChina'sbankingSO．OrtOoverseasM&Aprocessandadoptcopingstrate