Mergers and acquisitions and bank performance in Europe: The role of strategic similarities

被引：65

作者：

Altunbas, Yener ^{[1
]}

Marques, David ^{[2
]}

机构：

[1] Univ Wales, SBARD, Ctr Banking & Financial Studies, Sch Accounting Banking & Econ, Bangor LL57 2DG, Gwynedd, Wales

[2] European Cent Bank, Capital Markets & Financial Struct Div, D-60311 Frankfurt, Germany

来源：

JOURNAL OF ECONOMICS AND BUSINESS | 2008年 / 60卷 / 03期

关键词：

Banks; M&As; Performance;

D O I：

10.1016/j.jeconbus.2007.02.003

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

We examine the impact of European Union banks' strategic similarities on post-merger performance. We find that, on average, bank mergers have resulted in improved performance. We also find that for domestic deals, it can be quite costly to integrate institutions which are dissimilar in terms of their loan, earnings, cost, deposit and size strategies. For cross-border mergers, differences between merging partners in their loan and credit risk strategies are conducive to higher performance, whereas diversity in their capital and cost structure has a negative impact from a performance standpoint. (C) 2007 Elsevier Inc. All rights reserved.

引用

页码：204 / 222

页数：19

共 56 条

[51]

Vander Vennet R, 2003, FOREIGN DIRECT INVESTMENT IN THE REAL AND FINANCIAL SECTOR OF INDUSTRIAL COUNTRIES, P295

[52]

VanderVennet R, 1996, J BANK FINANC, V20, P1531

[53]

Vives X., 2000, LESSONS EUROPEAN BAN, P177, DOI [10.1016/B978-0-444-53238-1.00012-0, DOI 10.1016/B978-0-444-53238-1.00012-0]

[54]

Winton A, 1999, 0016 WHART SCH CTR F, P00

[55] CHANGING GENERIC STRATEGIES - LIKELIHOOD, DIRECTION, AND PERFORMANCE IMPLICATIONS [J].

ZAJAC, EJ ;

SHORTELL, SM .

STRATEGIC MANAGEMENT JOURNAL, 1989, 10 (05) :413-430

[56]

[No title captured]

← 1 2 3 4 5 6 →