隨著相關金融商品的日益多元,以及金融自由化、國際化的趨勢,使得我國逐漸飽和的金融市場不只是國內同業之間的競爭,還必須受到外國金融集團強力的挑戰。為了達到資本大型化、國際化及規模成長,以步入國際全球化舞台作準備,我國金控公司大多以透過購併整合行為的外部成長方式,來達成企業競爭能力的強化。瞭解一個良好的購併整合需要哪些關鍵因素?其具體的整合措施為何?哪些關鍵因素乃存續公司需先緩急輕重優先執行?遠比購併前的分析還來的重要。而以往研究偏向於量化之研究,量化研究的方式雖然可以清楚的了解哪些因素對於購併後的整合是否顯著相關,但卻無法深層刻劃其整合過程的各種細節,因此本研究選擇以質性研究法更深入探討金融控股公司購併後整合的成功因素及其模式,以提供國內金控業者有志於購併之參考。 本研究以紮根理論及個案分析方式進行。對三位實際參與購併整合之高階人員作深度訪談,透過訪談記錄之整理分析與紮根理論之概念,對資料進行編碼,萃取出二十八個成功關鍵因素及建構外部環境、作業系統、人力資源、組織架構、領導風格暨企業文化等六個構面。最後,吾人採用二家金融控股公司以為個案,深入瞭解購併後整合過程的實際措施之異同,結果發現金控公司在購併之後的整合措施能否成功,最主要的關鍵因素在於領導風格及人力資源二構面的落實,而「安定主、被併公司員工的心」則可具體顯現出購併後整合的成效,使得購併後的整體綜效發揮。
With various financial products, financial freedom and international tendencies, Taiwanese financial market not only encounters competitions within, but also faces the challenges from foreign financial groups. Facing the global competitions, financial holding companies in Taiwan strengthen their competitive abilities by merging and acquiring for accumulating capital, expanding their market share and reengineering their organization. However, a well-performed merger or acquisitions is not an easy task for most of financial holding companies. Many studies not only used quantitative method for analyzing the costs and benefits of merging and acquiring other financial companies, but also setup key success factors for integration plan. In my thesis, I adopted Grounded Theory, and interviewed 3 company directors who have implemented of mergers and acquisitions. According to interviewing transcriptions, I encoded 28 key successful factors, and built up 6 major aspects which are External Environment, Operating System, Human Resources, Organizational Structure, Style of Leadership and Business Culture for final analysis. Consequently, we found that among the key success factors, the style of leadership and the utilization of human resources are the most important guidepost for the financial holding companies after mergers and acquisitions. After all, comforting the merged employees can save the cost or employee mobility results after mergers and acquisitions, and making all factors performed well.