Loading...
|
Please use this identifier to cite or link to this item:
https://nccur.lib.nccu.edu.tw/handle/140.119/31377
|
| Title: | 策略與流程觀點下企業併購後資訊與作業整合之個案研究: 以台新大安銀行及中信萬通銀行之合併為例
Managing Strategy and Process of Post-merger Integration of IT and Operations: Case Studies on M&A of Taishin-Dah An and Chinatrust-GCB |
| Authors: | 蔡明欽 |
| Contributors: | 苑守慈
蔡明欽 |
| Keywords: | 台新大安銀行及中信萬通銀行之合併 |
| Date: | 2007 |
| Issue Date: | 2009-09-14 09:53:24 (UTC+8) |
| Abstract: | 策略與流程觀點下企業併購後資訊與作業整合之個案研究: 以台新大安銀行及中信萬通銀行之合併為例
Abstract
Managing Strategy and Process of Post-merger Integration of IT and Operations: Case Studies on M&A of Taishin-Dah An and Chinatrust-GCB
By
Mark Tsai
In view of highly competition in today’ banking market, the need of merger and acquisition has been significantly increasing nowadays in order to sustain and grow through non-organic growth approach. As a result, the success of post-merger integration becomes critical to ensure synergy will be generated after merger and acquisition.
Through field research, this paper attempts to adopt two cases of banks’ integration to prove that clear strategies and a sound framework of managing post-merger integration is essential. There are Taishin International Bank acquired Dah An Bank in 2001 and Chinatrust Commercial Bank acquired Grand Commercial Bank in 2003. Both of these two cases completed integration of banks’ systems and most of operations within six months.
By interviewing with executives of the banks and analyzing primary and secondary data, this paper tries to figure out strategies of the acquiring banks. The banks’ different branch models (i.e. full service or deposit-taking) are addressed. Furthermore, the differences of elapsed time of system migration against size of the banks are in-depth discussed. The KSFs (key success factors) of integration are proposed based on findings. At the same time, propositions are debated by using other cases of M&As in this paper.
In the end, the author intends to provide practical managerial implications based on insight of this research. A diagnostic checklist of managing post-merger integration is proposed. Thereafter, a holistic process of managing operations and system integration is rendered by analyzing specific steps of post-merger integration of those banks.
Keywords: Mergers and Acquisitions; Post-merger Integration; Key Success Factors; Information Technology; Core Banking; Data Conversion; Business Process Re-engineering
Section 1 Introduction 1
Section 2 Background Information 3
Market of Taiwanese Banking Industry 3
The Financial Reforms of Taiwan 6
Introduction of Acquiring and Acquired Banks 8
Introduction of Taishin International Bank 8
Introduction of Dah An Commercial Bank 10
The Merger of Taishin and Dah An 12
Introduction of Chinatrust Commercial Bank 13
Introduction of Grand Commercial Bank 15
The Merger of Chinatrust and GCB 16
Section 3 Literature Review 17
Post-merger Integration 17
Key Success Factors of Post-merger Integration 19
Section 4 Research Methodology 26
Research Motivation 26
Primary and Secondary Data Sources 27
Conceptual Framework 29
Section 5 Analysis 31
Key Business Strategies of Taishin and Chinatrust 31
Integration Organization and HR Issues 40
IT and Operations Integration 50
Selection of Branch Operations Model 50
Trend of IT and Related Issues of IT Integration 62
Process of IT and Operations Integration 71
Key Success Factors of IT and Operations Integration 79
Post-Merger Performance 95
M&A Results of Taishin-Dah An 95
M&A Results of Chinatrust-GCB 98
Propositions 101
Section 6 Conclusion and Recommendation 111
Conclusion 111
Recommendation 115
Discussion 117
Bibliography 119
Figure 2.1 Trend of Interest Rate 3
Figure 5.1 A Strategic Map of an Acquiring Bank 32 43 47
Figure 5.2.1 A Chart of Integration Organization
Figure 5.2.2 Post-merger Stock Price
- vi -
- vii -
LIST OF FIGURES
Figure 4.1 Conceptual Framework of Analyzing Case Studies 29
Figure 5.3.1.1 An Evolution of Branch Operation Model 55
Figure 5.3.1.2 Net Income before Tax after Branch Re-engineering 56
Figure 5.3.1.2 Organization Chart of Dah An Commercial Bank 59
Figure 5.3.1.3 Organization Chart of Grand Commercial Bank 59
Figure 5.3.1.4 Unit Cost of Transaction Taken at Different Channels 62
Figure 5.3.2.1 An Overview of Systems of a Typical Commercial Bank 65
Figure 5.3.3.1 Boston Box 74
Figure 5.3.3.2 An Action Plan Based on Result of Gap Analysis 76
Figure 5.5.1 Survey Result of the Questionnaire 103 104 106
Figure 5.5.2 Selection of systems
Figure 5.5.3 Evolutionary Stages of IT Integration for Banks
Figure 6.1.1 Factors of Driving Success of M&A Synergy and Achieve Acquiring Bank’s Goals 112
Figure 6.1.2 Relations Diagram – Integration of IT and Operations Towards M&A Synergy 113
- ix -
LIST OF TABLES
Overall Taiwanese Banks’ Profit 3
Non-Performing Loan (NPL) Ratio Statistics 5
Number of Financial Institutions in Taiwan 5
Financial Size of Taishin before M&A 9
Efficiency Ratio of Taishin before M&A 9
Condensed Income Statement of Taishin before M&A 10
Financial Size and Relevant Data of Dah An before M&A 11
Condensed Income Statement of Dah An before M&A 12
Financial Size of Chinatrust before M&A 14
Condensed Income Statement of Chinatrust before M&A 14
Financial Size of GCB before M&A 15
Condensed Income Statement of GCB before M&A 15
Table 5.3.1.1 Credit Card Issued by the Top 3 in Taiwan 50
Table 5.3.1.2 Chinatrust’s Revenue Breakdown by Business 51
Table 5.3.1.3 Different Nature of Branch at Corporate and Consumer Focus Bank 52
Table 5.3.1.4 Accountability of Full-Service Branch Manager 53
Table 5.3.1.4 A Comparison of Operations Productivity 58
Table 5.3.1.4 Combined Staffing Projection 61
Table 5.3.2.1 Comparison of TABS and NT system 66
Table 5.3.2.2 Comparison of Legacy and New Core Banking System 68
Table 5.3.4.1 Milestones of System Migration of four M&A cases 83
Table 5.3.4.2 Size of Bank of Cathay, UWCCB, Fubon and Taipei at the time of M&As 84
Table 5.3.4.3 Size of Bank of Taishin, Dah An, Chintrust and GCB at the time of M&As 84
Table 5.3.4.4 Milestones of Post-merger IT integration of Taishin 88
Table 5.4.1.1 Condensed Income Statement of Taishin after M&A 97
Table 5.4.1.2 Number of Employees of Taishin Bank 98
Table 5.4.1.3 Asset and Equity of Taishin Bank after merger 98
Table 5.4.2.1 Condensed Income Statement of Chinatrust after M&A 99
Rating for Objective and Priority of IT Integration 102
Size of Bank of Taiwan Cooperative Bank and Farmers Bank of China at the time of M&As 109
Correlation between Relative Size and Elapse Time of System Migration 110
Diagnostic Checklist to Predict Prospect of Post-merger Integration 115
- viii -
Figure 6.1.3 Correlation between Relative Size and Elapse
Time of System Migration 114
Figure 6.2.2 Post-Merger Integration Process of IT and
Operations 116 |
| Reference: | - 119 -
Bibliography
English：
Ager, David Laurence, 2004, How Identify, Belongingness, and Toxic Emotions Impede Interaction and Coordination: A Study of Post-Acquisition Integration at a Software Firm., Ph.D. Thesis, Harvard University.
Albizzatti, Nicolas J., Christofferson, Scott A., and Sias, Diane L., Smoothing Postmerger Integration, McKinsey on Finance, Autumn 2005.
Applegate, Linda M., Austin, Robert D., and McFarlan, F. Warren, 2003, Corporate Information Strategy and Management, McGraw-Hill.
Atkinson, Anthony A., Kaplan, Robert S., Matsumura, Ella Mae, Young, S. Mark, 2007, Management Accounting, 5th edition.
Carleton, J. Robert, Lineberry, Claude S., 2004, Achieving Post-Merger Success: A Stakeholder’s Guide to Cultural Due Diligence, Assessment, and Integration, John Wiley & Sons, Inc.
Ching, Cheong and Ching, Hung Yee, 2003, Handbook on China’s WTO Accession and Its Impacts.
Clemente, Mark N., Greenspan, David S., 1998, Winning at Mergers and Acquisitions: The Guide to Market-Focused Planning and Integration, John Wiley & Sons, Inc.
Dern, Vincent, 2004, Real Options in Strategic Acquisition: A Case Study of the Fubon-Taipei Bank Merger, MBA Thesis, National Chengchi University.
Durrer, Klaus and Remmers, David, 2002, “The Merger of Union Bank of Switzerland and Swiss Bank Corporation: Post-Merger Experience”, Interview of John Costas, Darden Business Publishing, University of Virginia, UVA-F-1423-SSRN v. 3. p. 3, UBS AG archives.
Grant, Robert M., 2002, Contemporary Strategy Analysis, 4th edition.
Hall, Robert, 2004, “Which structure works best: centralized or localized? (Marketing Solutions)”, Bank Marketing - November 1.
Hanson, Patti, 2001, The M&A Transition Guide: A 10-step Roadmap for Workforce Integration, pp. 136-139, John Wiley & Sons, Inc.
Haunschild, P. R., Moreland, R. L., & Murrell, A. J., 1994, “Sources of Resistance to Mergers between Groups”, Journal of Applied Social Psychology, 24(13):
- 120 -
1150-1178.
Hirtle, Beverly and Metli, Christopher, 2004, “The Evolution of U S Bank Branch Networks: Growth, Consolidation, and Strategy”, Economics and Finance, July, Volume 10, Number 8.
Holliday, Karen Kahler, 2003, “Full-service branches persevere over naysayers` predictions”, Mississippi Business Journal, October 20.
Hubbard, N., 1999, Acquisition strategy and implementation. London: Macmillan.
Jain, Arun, 2005, Smart Legacy Modernization, Polaris Software Lab Limited.
Lajoux, Alexandra Reed ,2006, The Art of M&A Integration: A Guide to Merging Resources, Processes & Responsibilities, 2nd edition, pp.26-27.
Laudon, Kenneth C., Laudon, Jane P., 2004, Management Information Systems, pp. 393-394.
Lin, Sing-Ru, 2006, The Information Technology (IT) Integration of Bank Merger: An Exploratory Case Study, MBA Thesis, National Central University.
Marks, Mitchell Lee and Mirvis, Philip H., 1986, “The Merger Syndrome”, Psychology Today, 20(10): 36-42.
Marks, Mitchell Lee, Mirvis, Philip H., 1998, Joining Forces: Making One Plus One Equal Three in Mergers, Acquisitions, and Alliances, pp. 137-142.
Marmenout, Katty, 2005, “A disputing perspective on post-merger integration”, McGill University
Mayerick, Rebecca and West, June, 2004,”The Practitioner’s Guide for Communications During Post-merger Integration”, Darden Business Publishing, University of Virginia, UVA-BC-0186, p. 13.
Pautler, Paul A., 2003, “The Effects of Mergers and Post-Merger Integration: A Review of Business Consulting Literature”, Bureau of Economics Federal Trade Commission.
Portner, Fred, 1992, “There must be a better way: retail branch structure of mortgage banking”, Mortgage Banking, Mortgage Bankers Association of America, Nov. 1.
Pritchett, Prince, Robinson, Donald, and Clarkson, Russell, 1997, After the Merger: The Authoritative Guide for Integration Success, Revised Edition, pp. 5-7, McGraw-Hill.
Tajfel, H. & Turner, J. C.,1986, “The social identity theory of intergroup behavior”, In S. Worchel & W. G. Austin (Eds.), Psychology of intergroup relations, 2nd ed.: 7-24. Chicago: Nelson-Hall.
- 121 -
Bibliography
Chinese：
王永和，2004，「銀行資訊系統之轉換綜效」，財金資訊，June，Vol.34 。
沈中華，2002，「併購成功的要訣 -美國的經驗」，我國金融機構併購問題及個案研討，台灣金融研訓院，第10頁至第16頁。
吳明玲， 2003， 「在金控法下我國銀行購併策略之研究： 富邦台北銀行及國泰世華銀行之案例探討」，國立台北大學企業管理系碩士論文。
吳萬益、林清河，2001，「企業研究方法」，華泰圖書，第35頁至第247頁。
李東峰、張文涵、呂勳原、洪介峰、張思琳、林忠賢，2002， 「銀行產業策略分析暨中國信託策略分析與研擬」， 輔仁大學企業管理學系第三十六屆企業政策專題報告。
周朝崇，2001， 「台灣商業銀行合併後經營績效之研究」， 大業大學碩士論文。
陳崇博，2005， 「銀行併購後員工待遇與員工績效間關係之實證研究」， 淡江大學碩士論文。
劉景中，2000，「國內商業銀行併購信用合作社關鍵成功因素分析」， 國立台灣科技大學管理研究所碩士論文。 |
| Description: | 碩士
國立政治大學
國際經營管理碩士班(IMBA)
92933020
96 |
| Source URI: | http://thesis.lib.nccu.edu.tw/record/#G0929330201 |
| Data Type: | thesis |
| Appears in Collections: | [國際經營管理英語碩士學程IMBA] 學位論文
|
Files in This Item:
| File |
Size | Format | |
|---|
| index.html | 0Kb | HTML2 | 426 | View/Open |
|
All items in 政大典藏 are protected by copyright, with all rights reserved.
|
