A Case Study on Merge and Acquisition Activities and Integration Performance in Cathay Financial Holdings

• Main Author: 沈祐綾
• Other Authors: 袁建中
• Format: Others
• Language: zh-TW
• Published: 2010
• Online Access: http://ndltd.ncl.edu.tw/handle/86400458595999261521

碩士 === 國立交通大學 === 科技管理研究所 === 98 === Cathay Financial Holding Company is chosen as the case study. The study mainly discusses Cathay Financial Holding Company’s merge motive of United Bank and the seventh commercial banks, synergies after the mergers, and the expansive condiction towards the overseas . The study collects secondary data in order to analyze financial ratios to see whether the operation synergy, the market synergy and financial synergy will appear after the mergers. The box-and-whisker plot is used to explore the nine measuring variables’ trend after Cathay Financial Holding Company’s merges. Then the study use ANOVA to test whether such synergy is significant or not. The result shows that Cathay Financial Holding Company’s merges only result in a significant market and financial synergy for bank’s subsidiaries deposit market share and the difference between net profit before tax and net profit after tax.The other measuring variables do not result in significant impact on synergies.The reason may be the establishment of financial holding company is less than ten years, so the sample size is too small. And it is influenced by the overall financial environment. Therefore, the synergy is difficult to render in a short time to reach a significant level. Since the purpose of financial holding companies’ merger is to achieve merge synergy ,the financial holding company needs to review the results and improves it in order to achieve merger synergies as soon as possible.