企業併購對顧客忠誠度之影響-以星展銀行併購花旗台灣消金業務為例

Abstract

在全球經濟低迷時，2022年全球併購市場的交易額較前一年減少逾30%，反觀台灣併購總件數創下新高。現有併購相關研究多注重財務綜效、市場份額、內部組織變動等，對消費者角度的關注不足，故本研究將以台灣星展花旗的併購案為例，探討企業併購對消費者知覺的影響，以及消費者知覺對顧客忠誠度的影響，並提供相關管理意涵。

本研究首先著重於探討企業內部整合之產品與價格、服務品質、銀行員工、服務管道、品牌形象等五大面向是否對於併購消費者知覺造成影響，同時，加入公關活動、社群媒體、口碑作為干擾變數，以了解外部市場動向的調節作用，並進一步探討併購消費者知覺與顧客忠誠度之間的關係。資料收集方式為網路問卷調查，以花旗轉星展之顧客為研究對象，共回收371份有效問卷，採用PLS-SEM模型進行統計分析。

經實證結果顯示，企業內部整合之五大構面對於併購消費者知覺產生正向顯著的影響，且併購消費者知覺與顧客忠誠度呈現正向相關。此外，外部市場動向之三個干擾變數均對併購消費者知覺與顧客忠誠度之間有著正向的調節作用。因此，當金融產業在進行併購時更應將消費者放在核心位置，並有效地整合內部資源，且隨時注意外部市場動向，以確保併購後的成功和長期競爭優勢。

In 2022, amidst a global economic downturn, the international M&A market saw a significant decrease in transaction volume, while Taiwan experienced a surge in M&A activities. This study aims to explore the impact of corporate M&A on consumer perceptions and customer loyalty, taking the acquisition of Citibank by DBS Bank in Taiwan as a case study.

This study discusses whether internal integration across five dimensions (products and prices, service quality, banking staff, service channels, and brand image) influences consumer perceptions of M&A. Additionally, this study considers public relations, social media, and word-of-mouth as moderating variables to examine the potential effect of external market trends on the company-customer relationship. Data were collected through an online survey targeting Citibank customers who transitioned to DBS Bank, resulting in 371 valid responses, analyzed using the Partial Least Squares Structural Equation Modeling (PLS-SEM) approach.

Results show that internal integration significantly influences consumer perceptions of M&A, which positively correlates with customer loyalty. Moreover, external market trends moderate this relationship positively. Therefore, it is essential for banks to prioritize consumers, integrate internal resources effectively, and stay attuned to external market dynamics for post-M&A success and sustained competitive advantage.