摘要
本研究以國內本土銀行過去12年間發生的併購案，挑選以銀行體系併購銀行體系為主之16家為樣本銀行，並將樣本個案分別區分由公股銀行、民營銀行、外商銀行及透過金融重建基金等四類不同型態銀行主體發動的併購案，來探討不同類行銀行發動的併購案，其併購後經營績效之差異。本研究利用中央銀行金融統計資料中，有關本國銀行營運績效季報中的＂主要財務及營運比率＂六大項經營績效指標，以年資料為基礎，計算財務指標在併購前二年至後三年的每年變化比率，在平減全體銀行的平均表現中位數後，來衡量併購對銀行績效之影響。研究結果發現併購後經營績效優劣順序分別為外商銀行發動，其次是民營銀行發動，再者為透過金融重建基金發動，表現最差的則屬由公股銀行發動。
並列摘要
This study examines the post-performance of bank acquisitions occurred in Taiwan over the past 12 years. There are 16 bank acquisitions in the sample period, and all of acquisitions are classified as four groups depending on the identity of the acquirer: state-owned banks, private banks, foreign banks, and the Resolution Trust Corporation (RTC). This study acquires the banks’ six major financial and operating performance variables from the Central Bank of China, and investigates the changes in the performance measures from the two years before the acquisitions to three years after the acquisitions. The performance measures have been adjusted the industries’ median. Empirical findings indicate that acquisitions initiated by foreign banks have the best post-acquisition performance, and followed by the acquisitions by private banks and RTC. The post-acquisition performance is the worst for the acquisitions initiated by the state-owned banks.