| Summary: | 碩士 === 國立政治大學 === 商管專業學院碩士學位學程(AMBA) === 100 === To pursue the maximum value of enterprise, “M&;A” becomes one of the best ways to explore opportunity of growth outside the enterprise. In the past, most academic reports focus the financial effects of M&;A activities, but few discuss the M&;A synergy from the aspect of resource configuration. However, enterprise resource configuration is getting important in contemporary academic field, and more and more scholars have devoted to the development of “resource based theory” for past 20 years. They believe that it is more appropriate to explain the profitability of enterprise based on the unique core competence formed by resources than on the market impact.
In this study, we are interested in the impact of M&;A on the configuration of resources to the enterprise value, and also expect to study the M&;A synergy by analyzing the resource configuration. We adopt HSBC Bank as our subject, and by 2 time M&;A experiences of HSBC Bank in Taiwan, we are able to analyze how HSBC Bank get necessary resources through M&;A to establish and strengthen the competitive advantages, and in the meantime, also try to explore our study to M&;A of financial institutions to provide a possible way of M&;A and suggestion in the future.
Through “resource based theory” to analyze those M&;A cases of HSBC Bank, we can understand that when enterprises adopt M&;A as a way of enhancing the core competence, abundant M&;A experience and timing would significantly lower the M&;A cost, and that the M&;A performance depends on the planning of M&;A strategy before transaction and post-merger integration. Distinctive resources are the source of M&;A synergy whilst in-distinctive resources may have negative impact for M&;A performance if those conflicts existing resources.
|
|---|
