The poor performance of foreign bank subsidiaries: Were the problems acquired or created?
AbstractWe examine foreign acquisitions of United States banks around the time of the ownership change to determine whether the observed poor performance of foreign subsidiaries is the result of changes in business strategy or the preexisting characteristics of the target bank. We find that many of the problems were already present at the time of acquisition. However, changes in business strategy by the foreign owners were generally not successful in raising the banks's performance level to that of its domestic peers.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Banking & Finance.
Volume (Year): 23 (1999)
Issue (Month): 2-4 (February)
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Other versions of this item:
- Joe Peek & Eric S. Rosengren & Faith Kasirye, 1998. "The poor performance of foreign bank subsidiaries: were the problems acquired or created?," Working Papers 98-3, Federal Reserve Bank of Boston.
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