| Summary: | 碩士 === 國立交通大學 === 管理學院高階主管管理碩士學程 === 92 === Since the “Financial Holding Company Law” and “Financial Institutions Merger Law” had been passed in 2001, the gorvement provided a legal framework for financial groups that want to integrate their financial service subsidiaries, such as banking, insurance and securities, through a financial holding company (FHC). The framework will allow local firms to develop more internationalized services. With the trend of global financial liberalization and internationalization, financial companies in Taiwan also experienced an extremely change in the past 2 years. Through merge and integration , there are 14 FHC has been established in 2 years.In order to create the advantage of economics scale, the consensus now expects to see more cases of the consolidation among FHC.
Distinguishing from the traditional ways of FHC’s consolidation, KGI securities got the management authority of China Development Financial Holding Corporation’s (CDFHC) upon the supports of Ministry Of Finance and acquisition of CDFHC’s stock. The purpose of this thesis is to analyze the key success factors of KGI securities’ success in this case, and to find out is anything worth discussing regarding the management of the original Directors of CDFHC.
After our research, we have some conclusions as follows:
1) The suggestions of corporate management :
a. the rules of selecting independent Directors
b. the limitations of inside shareholders’ transaction
c. establishing the regulations of corporate acquisition
d. compliance system and accounting principle
e. encourage the investments from qualificationed institute and other interested investors
f. the compliance system of penalty for incredibility Directors
2) The key success factors of KGI Securities
a. good relationship with government and related stakeholders
b. the strong back-up from KGI group and well-organized mobilization
c. the recongnition of its stock holders
d. CDFHC’s weakness resulted from scandals and management’s argument
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