| The wave of bank merger and acquisition(M&A) has been sweeping throughout the world since 1990's,aiming to gain an advantageous situation, by complementing advantages reciprocally, extending their scale, appealing more customers and bearing good brand. The upsurge of bank M&A indicate that all countries' banking was just carrying out a deep-going and extensive structure adjustment, and it also revealed the market structure and the competition pattern of the future banking. China's banking system is also performing reform so as to meet the market's requirement and the world trend. Whether we can use the method of M&A, and if can, how to use, what barrier are in front of us, no doubt, is an urgent and serious subject for us to achieve the reform aim and the banking development. The thesis draws support from the beneficial result of modern economics research, follows the methods of historical inspection and contract analysis, pays close attention to the interrelation between banking M&A and proper right system, analyzes the defect of the proper right system, discusses the compatibility of bank M&A in China and at last gives suggestions to construct a healthy outside institution for bank M&A.The thesis can be divided into four parts: It begins with the substance of banks M&A and the demonstrational analysis, then the problem of property right limitation,the relativity of banks M&A and property right system, the possibility of banks M&A, and at the last discussing the function of government, market and bank in banks M&A. Part 1:Inspect the implication of the banking M&A and analyze the up-day's bank M&A.M&A is an inborn impulsion of every bank in the world. Bank is a kind of special financial enterprise, so the general meaning of M&A and economic theories can be applied to it. By the way of property right's transaction to realize the adjustment of bank construction and maximize the profit is every commercial bank's natural characteristic. At the same time, I also cite in this chapter typical cases about bank M&A in the past yeas in China and makes positive analysis.Part 2:Inspect the connection between banking M&A and property right system and analyze the necessity of bank M&A. This chapter is the core of the thesis. Seeing that the special structure character of banking in China is special, the objects of study can be divided into two kinds--the state-owned commercial banks and joint-equity banks--in order to understand how M&A acts on the structure adjustment of bank more deeply. Through analysis of the present situation and the significance of bank in China, we realize that the defect of bank property right system is the biggest burden for bank M&A which bring about low efficiency and weak competition in banking industry in China. Consequently, to draw up a set of policies and measures to correct the defect timely is the most important thing. However, the effect of reform depends on the degree about government's policies. Property right system reconstruction is the suitable way to solve this problem. As far as the big four state-owned commercial banks are concerned, stock-shared system reform is the base and prerequisite of bank M&A. As to the shareholding commercial banks, they should diversify property right structure. Only by this way, bank M&A can be developed smoothly. While, bank M&A benefits improving property right system more deeply. Bank So M&A and property right system push forward each other and condition each other, which is proved. Part 3:Inspect the feasibility and pattern of bank M&A in China especially after stock-holding system reform of the state-owned commercial banks and stock diversity of joint-equity banks. Applying lots of latest cases was highlighted in this chapter. Part 4:From the aspect of government, market and bank respectively, the thesis then introduce ideas on the set-up of outside system. Firstly, according to western M&A theory, government should develop the function of guide, supervision, co-ordinance and information medium. |
