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Book synopsis

This study examines the short-term and long-term wealth effects of 96 cross-border bank mergers between 1985 and 2005. In the short-term, even after a thorough accounting for information leakage, transactions are found to be wealth-creating, albeit only on a net basis with target gains more than compensating for bidder losses. Contrary to earlier evidence, no abnormal long-term returns are detected, which supports the validity of the inferences drawn from the short-term. Furthermore, a thorough analysis of factors that can explain wealth creation ex-ante suggests that bidder and net wealth creation is higher if bidders take over targets that are already relatively cost efficient ex-ante and do not acquire in «hot» deal markets.

Book details

Book category Knihy po anglicky Economics, finance, business & management Business & management Management & management techniques

• Full title: Cross-Border Bank Mergers: Who Gains and Why?
• Author: Dirk Schmautzer
• Language: English
• Binding: Paperback
• Number of pages: 266
• EAN: 9783631579237
• ISBN: 9783631579237
• ID: 10020555
• Publisher: Peter Lang AG
• Weight: 368 g
• Dimensions: 151 × 210 × 18 mm
• Date of publishing: 20. August 2008

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