Abstract
Mergers and Acquisitions often happen in America and Europe, but in Taiwan they are just on the start stage. In the end of 1999, two of top ten securities firms-- Yuanta Securities Firm and Core Pacific Securities Firm merged. This M&A case triggered a series of M&A actions in the securities industry, and the rank and ecology of the industry changed a lot. My thesis focuses on the effects of industry structure and key success factors due to the series of M&A actions in securities industry. My four research objectives are :
1. to find out the motives of securities firms¡¦ M&A
2. to find out what happened to industry structure after the several M&A actions
3. If the industry structure changed, to find out the influences of key success factors of industry
4. Facing the changed industry environment, to give securities firms some suggestions
The analysis methods of my thesis are literature reviewing and interviewing the securities firms. Porter¡¦s ¡§Five Forces Model¡¨ is the main analyzing theory. The research results find that the main motive of the securities firms¡¦ M&A is to expand the scale, in order to globalize and develop to be an investment bank. After several M&A actions, the most obvious changes are the decrease of securities firm numbers and the change of rank. The intensity of industry competition alleviates and the threat of substitute and potential entrant diminishes. The bargaining power of customers doesn¡¦t change. As to key successful factors, the importance of securities firms¡¦ size increases. Globalization, training of professional employees, innovation of products and information technology are required resources and capacities of securities firms.
| Identifer | oai:union.ndltd.org:NSYSU/oai:NSYSU:etd-0620101-105453 |
| Date | 20 June 2001 |
| Creators | Chang, Sung-An |
| Contributors | Shou-De Shyu, Chin-Tein Lee, Gwo-Chyang Hu, Cher-Min Fong |
| Publisher | NSYSU |
| Source Sets | NSYSU Electronic Thesis and Dissertation Archive |
| Language | Cholon |
| Detected Language | English |
| Type | text |
| Format | application/pdf |
| Source | http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0620101-105453 |
| Rights | restricted, Copyright information available at source archive |
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