我國金融控股公司購併整合管理之個案研究

A Case Study on Key Success Factors after the Mergers and Acquisitions of the Financial Holding Company in Taiwan

劉子琦(Dsih-Chi Liu) ； 蔡銘洁(Ming-Ji Tsai)

《績效與策略研究》 3卷2期 (2006/12) Pp. 75-94

https://doi.org/10.6736/JPSR.200612_3(2).0005

摘要

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，不僅強化我國金融市場國內同業之間的競爭，還面臨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，來強化企業競爭力。然而，此舉未必是萬靈丹，也可能事倍功半，因此，如何充分掌握哪些因素是購併整合的關鍵因素？其具體的事前計畫、事中規劃及事後整合相關措施為何？哪些關鍵因素乃存續公司需優先執行？在不同的時程中，又有哪些措施具有決定性的影響？等等這些議題一直是我國產、官、學界急欲了解且深入研究的問題。
以往有關購併案例的分析，多偏向於量化之研究，儘管量化研究的方式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方法，以國內兩家金融控股公司為個案，透過對三位實際參與購併整合之高階人員的深度訪談記錄之整理分析，了解我國金融控股公司在外部環境、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。經過比較購併整合過程的實際措施之異同之後，發現金控公司在購併之後的整合措施能否成功的最主要關鍵因素，集中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體綜效。

關鍵字

金融控股公司 ； 購併整合 ； 質化研究 ； 紮根理論 ； 個案分析

並列摘要

Under the pressure of financial liberalization and internationalization, Taiwanese financial companies not only encounters competitions within, but also faces the challenges from foreign financial groups. In order to build up their competitive abilities for the fastest growth, financial holding companies enlarge their size by way of merging and acquiring for accumulating capital, expanding their market share and reengineering their organization.
However, a well-performed merger or acquisition is not an easy task for most financial holding companies. Many studies used quantitative method for analyzing and predicting the costs and benefits of merging or acquiring other financial companies. In my research, we adopt grounded theory to proceed our study, and interviewed 3 company directors who have implemented of mergers and acquisitions projects. According to interviewing transcriptions, we 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 those 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. Besides, comforting the merged employees can also save huge cost or keep employee resources for re-engineering new organization after mergers and acquisitions.

並列關鍵字

Financial Holding Company ； Mergers and Acquisitions ； Qualitative Methods ； Grounded Theory ； Case Study Analysis

參考文獻

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