CHANGES IN CORPORATE PERFORMANCE ASSOCIATED WITH BANK ACQUISITIONS

被引：139

作者：

CORNETT, MM ^{[1
]}

TEHRANIAN, H ^{[1
]}

机构：

[1] BOSTON COLL,CHESTNUT HILL,MA 02167

来源：

JOURNAL OF FINANCIAL ECONOMICS | 1992年 / 31卷 / 02期

关键词：

D O I：

10.1016/0304-405X(92)90004-H

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This paper examines the post-acquisition performance of large bank mergers between 1982 and 1987. On the whole, the merged banks outperform the banking industry. Their better performance appears to result from improvements in the ability to attract loans and deposits, in employee productivity, and in profitable asset growth. Further, we find a significant correlation between announcement-period abnormal stock returns and the various performance measures, showing that market participants are able to identify in advance the improved performance associated with bank acquisitions.

引用

页码：211 / 234

页数：24