A Study on the Performance of Mergers among Credit Cooperatives

信用社间兼并绩效研究

基本信息

批准号：
01530067
负责人：
HOSHINO Yasuo
金额：
$ 0.77万
依托单位：
Nagoya City University
依托单位国家：
日本
项目类别：
Grant-in-Aid for General Scientific Research (C)
财政年份：
1989
资助国家：
日本
起止时间：
1989 至 1990
项目状态：
已结题

项目摘要

The performance of mergers among credit cooperatives in Japan is analyzed with the 19 financial ratios representing profitability, liquidity and productivity and so on, made from financial data for the period of 1975 through 1981 based on 18 merging credit cooperatives and paired nonmerging credit cooperatives chosen from those with the closest amount of deposit in each prefecture. For those two groups of merging and nonmerging credit cooperatives, the test is conducted to examine the difference of financial ratios between before and after date of merger. When there exists the difference in only one or two groups, that is, there exists the effects of mergers, which is shown by examining the relative size of each ratio. Further, we examine the yearly effects by the difference of merging and nonmerging credit cooperatives with univariate and multivariate analysis. We could have a conclusion that merger has rather negative performance among credit cooperatives and merging credit cooperatives exhibit inferior financial characteristics to nonmerging ones.Secondly, we conducted two types of questionnaire surveys, one for directors of credit cooperatives, another for members of labor union (Zensinren). The motives for mergers by directors are 1) by the guidance of administrative authority, 2) talks among top management, with the opposite order by the union members. Other items like problems after mergers, objectives of mergers, there are not so many differences among the two surveys.Thirdly, mergers among the different financial institution, such as credit cooperatives and credit associations are examined with the data of 9 pairs merged form 1968 to 1975. The result is also the same as before.

根据18个1975年至1981年的财务数据，根据18个合并信贷合作社和从每个预装中最接近的存款人中选择的非合并信贷合作社的合并，代表盈利能力，流动性和生产力等的19个财务比率，代表盈利能力，流动性和生产力等，对1975年至1981年的财务数据进行了分析，对日本信贷合作社之间的合并表现进行了分析。对于这两组合并和非合并信用合作社，进行了测试以检查合并前后合并日期之间的财务比率差异。当存在仅一组或两组的差异时，就会存在合并的效果，通过检查每个比率的相对大小来显示。此外，我们通过与单变量和多变量分析的合并和非认证合作社的差异来研究年度影响。我们可以得出一个结论，合并在信贷合作社之间具有相当负面的表现，并合并信贷合作社对非合并的财务特征表现出较低的财务特征。第二，我们进行了两种类型的问卷调查，一种是针对信贷合作社的董事，另一个针对工会成员（Zensinren）（Zensinren）。董事合并的动机是1）在行政当局的指导下，2）在高层管理人员之间进行对话，工会成员的命令相反。其他项目之后的问题，合并后的问题，合并的目标，两项调查之间没有太多差异。三分之二的是，不同的金融机构之间的合并，例如信贷合作社和信用关联，并使用9对1968年至1975年的9对形式的数据进行了检查。结果也与以前相同。