Cross-border bank mergers: Who gains and why?:
Saved in:
| Main Author: | |
|---|---|
| Format: | Thesis Book |
| Language: | English |
| Published: |
Frankfurt am Main [u.a.]
Lang
2008
|
| Series: | European university studies
Series 5, Economics and management ; 3301 |
| Subjects: | |
| Online Access: | Inhaltsverzeichnis Klappentext |
| Physical Description: | 266 S. graph. Darst. |
| ISBN: | 9783631579237 |
Staff View
MARC
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Record in the Search Index
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| adam_text | Overview of Contents
Acknowledgements
_________________________________________ 5
Contents
__________________________________________________ 9
List of Figures
_____________________________________________ 13
List of Tables
______________________________________________ 15
List of Abbreviations
________________________________________ 17
1.
Introduction and Overview of Study
__________________________ 19
2.
The Market for Cross-Border Bank M&A
______________________ 27
3.
Theoretical Foundations of Bankmg and M&A
__________________ 49
4.
Previous Empirical Evidence on Wealth Effects of Cross-Border Bank
M&A
_________________________________________________ 93
5.
Design of Analysis
_______________________________________ 131
6.
New Empirical Evidence on Wealth Effects of Cross-Border Bank
M&A
_________________________________________________ 169
7.
Conclusion and Outlook
____________________________________ 223
References
________________________________________________ 227
Appendix
_________________________________________________ 249
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 compen¬
sating 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
hof
deal markets.
Dirk Schmautzer was born in
1976
in Moers (Germany). From
1997
to
2002,
he studied Business Administration with a focus on Finance, Banking and
Statistics at the University of Cologne and the Stockholm School of Economics
(Sweden). After receiving his Masters degree, he joined an international strategy
consultancy. Between
2005
and
2007,
he performed his doctoral studies at the
University of
Munster.
|
| adam_txt |
Overview of Contents
Acknowledgements
_ 5
Contents
_ 9
List of Figures
_ 13
List of Tables
_ 15
List of Abbreviations
_ 17
1.
Introduction and Overview of Study
_ 19
2.
The Market for Cross-Border Bank M&A
_ 27
3.
Theoretical Foundations of Bankmg and M&A
_ 49
4.
Previous Empirical Evidence on Wealth Effects of Cross-Border Bank
M&A
_ 93
5.
Design of Analysis
_ 131
6.
New Empirical Evidence on Wealth Effects of Cross-Border Bank
M&A
_ 169
7.
Conclusion and Outlook
_ 223
References
_ 227
Appendix
_ 249
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 compen¬
sating 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
"hof
deal markets.
Dirk Schmautzer was born in
1976
in Moers (Germany). From
1997
to
2002,
he studied Business Administration with a focus on Finance, Banking and
Statistics at the University of Cologne and the Stockholm School of Economics
(Sweden). After receiving his Masters degree, he joined an international strategy
consultancy. Between
2005
and
2007,
he performed his doctoral studies at the
University of
Munster. |
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| building | Verbundindex |
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| discipline | Wirtschaftswissenschaften |
| discipline_str_mv | Wirtschaftswissenschaften |
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| indexdate | 2024-07-09T21:19:41Z |
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| spelling | Schmautzer, Dirk 1976- Verfasser (DE-588)136080219 aut Cross-border bank mergers: Who gains and why? Dirk Schmautzer Frankfurt am Main [u.a.] Lang 2008 266 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier European university studies : Series 5, Economics and management 3301 Zugl.: Münster (Westfalen), Univ., Diss., 2007 Banken (financiële instellingen) gtt Fusies gtt Internationale aspecten gtt Bank mergers Banks and banking, International Bank (DE-588)4004436-1 gnd rswk-swf Internationale Fusion (DE-588)4227349-3 gnd rswk-swf Mergers and Acquisitions (DE-588)4205916-1 gnd rswk-swf (DE-588)4113937-9 Hochschulschrift gnd-content Bank (DE-588)4004436-1 s Internationale Fusion (DE-588)4227349-3 s DE-604 Mergers and Acquisitions (DE-588)4205916-1 s DE-188 European university studies Series 5, Economics and management ; 3301 (DE-604)BV000001798 3301 Digitalisierung UB Regensburg application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=016660324&sequence=000003&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis Digitalisierung UB Regensburg application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=016660324&sequence=000004&line_number=0002&func_code=DB_RECORDS&service_type=MEDIA Klappentext |
| spellingShingle | Schmautzer, Dirk 1976- Cross-border bank mergers: Who gains and why? European university studies Banken (financiële instellingen) gtt Fusies gtt Internationale aspecten gtt Bank mergers Banks and banking, International Bank (DE-588)4004436-1 gnd Internationale Fusion (DE-588)4227349-3 gnd Mergers and Acquisitions (DE-588)4205916-1 gnd |
| subject_GND | (DE-588)4004436-1 (DE-588)4227349-3 (DE-588)4205916-1 (DE-588)4113937-9 |
| title | Cross-border bank mergers: Who gains and why? |
| title_auth | Cross-border bank mergers: Who gains and why? |
| title_exact_search | Cross-border bank mergers: Who gains and why? |
| title_exact_search_txtP | Cross-border bank mergers: Who gains and why? |
| title_full | Cross-border bank mergers: Who gains and why? Dirk Schmautzer |
| title_fullStr | Cross-border bank mergers: Who gains and why? Dirk Schmautzer |
| title_full_unstemmed | Cross-border bank mergers: Who gains and why? Dirk Schmautzer |
| title_short | Cross-border bank mergers: Who gains and why? |
| title_sort | cross border bank mergers who gains and why |
| topic | Banken (financiële instellingen) gtt Fusies gtt Internationale aspecten gtt Bank mergers Banks and banking, International Bank (DE-588)4004436-1 gnd Internationale Fusion (DE-588)4227349-3 gnd Mergers and Acquisitions (DE-588)4205916-1 gnd |
| topic_facet | Banken (financiële instellingen) Fusies Internationale aspecten Bank mergers Banks and banking, International Bank Internationale Fusion Mergers and Acquisitions Hochschulschrift |
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