EFFECT OF MERGERS AND ACQUISITIONS STRATEGIES ON FINANCIAL PERFORMANCE OF FINANCIAL SERVICES SECTOR
EFFECT OF MERGERS AND ACQUISITIONS STRATEGIES ON FINANCIAL PERFORMANCE OF FINANCIAL SERVICES SECTOR
复制标题
并购策略对金融服务业财务绩效的影响
DOI：
10.47941/ijf.36
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发表时间：
2017
期刊：
影响因子：
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通讯作者：
A. Njuguna
中科院分区：
文献类型：
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作者：
Agnes Ogada;G. Achoki;A. Njuguna
目的：本研究的目的是建立在金融服务sectorinKeny.Methodology公司的财务业绩的合并和收购战略的影响：本研究采用了混合方法研究设计。研究人群包括肯尼亚所有51个合并的金融服务机构。使用了有目的抽样。主要数据来自调查问卷，还使用了次要数据收集模板。研究人员在分析数据时使用了定量技术。研究的描述性分析包括使用平均数、频率和百分比，也使用相关分析等推论性统计。还应用了面板数据分析。结果：成本效率对合并后院校的财务绩效有显著的正向影响。多元化经营对合并机构的财务绩效没有显著影响。协同效应与合并机构的财务绩效有显著关系。董事会规模与被并购机构的财务绩效存在显著关系，经济增长的调节作用与被并购机构的财务绩效存在显著关系。对理论、实践与政策的独特贡献：研究报告建议，（政府）应能够创造或促进有利环境，便利涉及基础设施提供的合并和收购，作为一种降低成本的方式，可以激励肯尼亚其他机构进行类似的合并，利益攸关方要确定他们最大的利润池所在，并集中精力改善负责这些利润池的单位，金融服务机构的管理层应该接受产品战略的多样化和金融创新，因为这将有助于为银行创造更多的收入。
Purpose: The purpose of this study was to establish the effect of mergers and acquisitions strategies on financial performance of firms in the financial services sector in Kenya.Methodology: The study adopted a mixed methodology research design. The study population included all the 51 merged financial service institutions in Kenya. Purposive sampling was used. Primary data was obtained from questionnaires and a secondary data collection template was also used. The researcher used quantitative techniques in analyzing the data. Descriptive analysis for the study included the use of means, frequencies and percentages. Inferential statistics such as correlation analysis was also used. Panel data analysis was also applied. Further, a pre and post merger analysis was used.Results: Cost efficiency was found to have a positive and significant effect on financial performance of merged institutions. Diversification had no significant effect on financial performance of merged institutions. Synergy had a significant relationship with financial performance of merged institutions. Board size had a significant relationship with financial performance of merged institution and there was a significant relationship between the moderating effect of economic growth and financial performance of merged institutions.Unique Contribution to Theory, Practice and Policy: The study recommended that policy makers (government) should be able to create or promote the enabling environment for facilitating mergers and acquisitions that concerns infrastructure provision, as a way of achieving cost reduction that could motivate similar mergers in other institutions in Kenya, stakeholders are to identify where their most immense profit pools lie and focus on improving those units responsible for them, the management of the financial services institutions should embrace diversification and financial innovation on product strategies as this will help in generating more income for the banks.
DOI：
10.2139/ssrn.99580
发表时间：
1999-03
期刊：
The American Economic Review
影响因子：
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作者：
Michael C. Jensen
通讯作者：
Michael C. Jensen