Research On The Synergistic Effect Of Financial Mixed Mergers And Acquisitions

At the National People's Congress(NPC)meeting in 2018,the State Council put forward a proposal for the institutional reform of combining the CBRC with the CIRC to establish the CBRC,which was approved by the National People's Congress.Against the background of preventing and defusing financial risks and strengthening the coordination of financial supervision,the establishment of the Banking and Insurance Regulatory Commission is a further measure of the financial system reform,and in order to cope with the general trend of financial mixed mergers and acquisitions.Because of the late development of China's financial market,compared with the international financial market,the degree of development is also relatively low.As early as in the 1970 s and 1980 s,a large number of mixed-operation financial enterprises appeared in the United States.Looking at the large-scale financial enterprises in the United States,Merrill Lynch,Citigroup and Morgan all carried out mixed-operation business at that time.With the development of economic globalization,financial links among countries are becoming closer and closer.In such an environment,the original system of separate operation of the financial industry in China has also been greatly impacted.This paper first reviews the concepts and theories related to mergers and acquisitions,introduces the concepts and basic types of mergers and acquisitions,and then introduces the theoretical basis related to mixed mergers and acquisitions,including synergy effect theory,diversification theory,scope economy theory and market power theory.It makes a detailed analysis of synergy effect theory,and believes that the realization of synergy effect is the implementation of mixed mergers and acquisitions by enterprises.Key objectives.Secondly,it introduces the case of China Life Group's merger and acquisition of Guangzhou Development Bank,including the basic situation of both sides,the process of merger and acquisition,and the motivation analysis of China Life Group's merger and acquisition of Guangzhou Development Bank.Then the synergistic effect theory is used to analyze the case of M&A.The performance before and after M&A is compared from the aspects of strategy,operation,finance,management and intangible assets.The conclusion of the study and the enlightenment to other financial enterprises are drawn.Finally,it summarizes theresults of the study,finds that the research is insufficient,and puts forward research prospects.It is hoped that through the exploration of this paper,combined with the characteristics of China Life Merger and Development Bank and the commonness of mixed mergers and acquisitions,it can provide reference for similar enterprises under the background of mixed mergers and acquisitions in the financial industry and the environment of financial system reform.