資源描述：
《中信證券并購(gòu)里昂證券案例分析》由會(huì)員上傳分享，免費(fèi)在線閱讀，更多相關(guān)內(nèi)容在學(xué)術(shù)論文-天天文庫(kù)。
1、暨南大學(xué)碩士學(xué)位論文題名（中英對(duì)照）：中信證券并購(gòu)里昂證券案例分析ThecasestudyofCITICSecuritiesacquiringCLSA作者姓名：卓曉敏指導(dǎo)教師姓名孫華妤及學(xué)位、職稱：博士、教授學(xué)科、專業(yè)名稱：金融碩士學(xué)位類型：專業(yè)學(xué)位論文提交日期：論文答辯日期：答辯委員會(huì)主席：論文評(píng)閱人：學(xué)位授予單位和日期摘要隨著中國(guó)經(jīng)濟(jì)的快速發(fā)展，越來(lái)越多的中國(guó)企業(yè)“走出去”。作為資本市場(chǎng)重要中介機(jī)構(gòu)，為了能更好的為中資企業(yè)對(duì)外投資提供優(yōu)質(zhì)的金融服務(wù)，越來(lái)越多的國(guó)內(nèi)券商開(kāi)始布局海外，進(jìn)行海外擴(kuò)張。而跨境并購(gòu)是中資券商對(duì)外擴(kuò)張的重要手段。通過(guò)并購(gòu)，中國(guó)證券公司可以快速擴(kuò)大經(jīng)營(yíng)規(guī)模、
2、提高整體競(jìng)爭(zhēng)力。中信證券收購(gòu)里昂證券是中資券商首個(gè)全資跨境收購(gòu)的案例，希望通過(guò)這樣一個(gè)實(shí)際的案例分析，能夠?yàn)橹匈Y券商將來(lái)的跨境并購(gòu)提供參考。本文首先對(duì)本案例中涉及的中信證券、中信證券國(guó)際及里昂證券的基本情況作了說(shuō)明，并簡(jiǎn)述此次并購(gòu)的過(guò)程。其次，運(yùn)用前文提供的并購(gòu)理論對(duì)本并購(gòu)案例中所涉及到的并購(gòu)動(dòng)機(jī)、并購(gòu)風(fēng)險(xiǎn)和并購(gòu)績(jī)效三個(gè)方面作了分析。最后，得出關(guān)于中國(guó)證券公司境外并購(gòu)啟示。文章認(rèn)為中資券商海外并購(gòu)必須符合自身發(fā)展戰(zhàn)略布局，慎重選擇目標(biāo)公司，在并購(gòu)?fù)瓿珊笞⒅卣?，尤其是文化整合。關(guān)鍵詞：證券公司；跨境并購(gòu)；并購(gòu)動(dòng)機(jī)；并購(gòu)風(fēng)險(xiǎn)；并購(gòu)績(jī)效；文化整合IAbstractWiththedeve
3、lopmentofChina’seconomy,moreandmoreChineseenterpriseschosetooperateoverseas.Asanimportantagencyorganizationofthecapitalmarket，inordertoprovideChineseenterpriseswithbetterservices,moreandmoreChinesesecuritiescompanieshadstartedtoglobalizetheirbusiness.Cross-bordermergersandacquisitionsareimport
4、antmeansforChinesesecuritiescompaniesexpansion.Throughmergersandacquisitions,Chinesesecuritiescompaniescanachievethepurposesofarapidexpansionoftheoperationscale,improvingtheoverallcompetitiveness。CITICSecurities(CITICS)M&AofCLSAisthefirstexamplethatChinesesecuritycompanydevelopedstock-controll
5、edcross-bordermergerandacquisition.Therefore,throughthispracticalcasestudy,thepaperwanttosharesomeexperienceforthesimilarcross-borderM&Aprojectinthefuture.First，thepaperintroducedthetwocompanies:CITICSandCLSAandreviewthehistoricalprocessofthismerger.Secondly,thepaperanalyzethethreekeyissuesinv
6、olved：theM&Amotives、theM&ArisksandM&APerformance.Finally,thepaperwillprovidesomereferenceforthefuturesimilarcross-borderM&Aprojectbasedontheanalysisofthepaperhaveintroduced.TheexperienceofCITICSM&AofCLSAinclude:BeforeM&A,thecompanyshouldconsiderwhetherM&Aissuitabletothecompanydevelopmentstrate
7、giesandlookforM&Atargetcarefully.AfterM&A,thecompanyshouldpayattentiontointegrate,especiallyculturalintegration.KeyWord:SecurityCompany;Cross-borderMergerandAcquisition;M&AMotives;M&ARisks;M&APerformance;culturalintegrationII目錄摘要.......
