A Study on the Motivations, Strategies of Mergers & Acquisitions and the Integrated Management after M&A─ taking Financial Holding Companies as example

• Main Authors: Yun-Wen Chen, 陳韻雯
• Other Authors: Kuo-Yu Lee
• Format: Others
• Language: zh-TW
• Published: 2004
• Online Access: http://ndltd.ncl.edu.tw/handle/13444654139926457564

碩士 === 中原大學 === 企業管理研究所 === 92 === As the liberalization of international financial market and frequently interaction of each other, every country enhances the competition of banks by reforming monetary system, every banking institution in order to respond with the change of financial environment, they turn into large-sized, global by merger and acquisition. In order to accommodate to the trend of the world and compete with the foreign financial institutions after joining WTO, the administration published ‘the Financial Holding Company Law’ on July, 2001, and put into practice in 1st November. Financial institutions can direct investment or M&A the subsidiaries in accordance with their goal and their subsidiaries can be bank, insurance, security and finance related. Financial institutions are in order to increase competition and get synergy, they use M&A to achieve these goals. Some financial holding companies their motivations of M&A are chasing economics scale, some are pursuing progress, others are enhancing administrative field, or changing competitive surroundings. Therefore, the forms of M&A and target company’s valuation criteria are affected by different M&A motivations, and both of these are affecting integrated management. This study adapts case study to analyze practical proceeding by collecting information and discussing with target companies, than combine to research construction and conclude with the relations of the motivations, strategies of M&A and the integrated management after M&A.