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Bank Mergers And Acquisitions – An Evaluation Of The ‘Four Pillars’ Policy In Australia

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  • SU WU

Abstract

This paper examines the efficiency consequences of bank mergers and acquisitions with particular reference to the ‘four pillars’ policy preventing mergers among the four major banks. Using data envelopment analysis, the technical efficiencies of banks operating in Australia over the period from 1983 to 2001 are estimated. A second‐stage regression is used to evaluate ex‐post efficiency performance of banks involved in mergers and acquisitions. The empirical results demonstrate that for the time being mergers among the four major banks may result in much poorer efficiency performance in the merging banks and the banking sector.

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  • Su Wu, 2008. "Bank Mergers And Acquisitions – An Evaluation Of The ‘Four Pillars’ Policy In Australia," Australian Economic Papers, Wiley Blackwell, vol. 47(2), pages 141-155, June.
    • Handle: RePEc:bla:ausecp:v:47:y:2008:i:2:p:141-155
    DOI: 10.1111/j.1467-8454.2008.00337.x
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    Cited by:

    1. Salim, Ruhul & Arjomandi, Amir & Seufert, Juergen Heinz, 2016. "Does corporate governance affect Australian banks' performance?," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 43(C), pages 113-125.
    2. Moradi-Motlagh, Amir & Babacan, Alperhan, 2015. "The impact of the global financial crisis on the efficiency of Australian banks," Economic Modelling, Elsevier, vol. 46(C), pages 397-406.

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