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

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Author Info
Altunbas, Yener
Marqués, David

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Abstract

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.

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Publisher Info
Article provided by Elsevier in its journal Journal of Economics and Business.

Volume (Year): 60 (2008)
Issue (Month): 3 ()
Pages: 204-222
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Handle: RePEc:eee:jebusi:v:60:y:2008:i:3:p:204-222

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Web page: http://www.elsevier.com/locate/jeconbus

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Amihud, Yakov & DeLong, Gayle L. & Saunders, Anthony, 2002. "The effects of cross-border bank mergers on bank risk and value," Journal of International Money and Finance, Elsevier, vol. 21(6), pages 857-877, November. [Downloadable!] (restricted)
  2. Allen N. Berger & Richard J. Herring & Giorgio P. Szegö, 1995. "The Role of Capital in Financial Institutions," Center for Financial Institutions Working Papers 95-01, Wharton School Center for Financial Institutions, University of Pennsylvania. [Downloadable!]
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  3. Allen N. Berger & Robert DeYoung & Hesna Genay & Gregory F. Udell, 1999. "Globalization of financial institutions: evidence from cross-border banking performance," Working Paper Series WP-99-25, Federal Reserve Bank of Chicago. [Downloadable!]
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  4. Inês Cabral & Frank Dierick & Jukka Vesala, 2002. "Banking integration in the euro area," Occasional Paper Series 06, European Central Bank. [Downloadable!]
  5. Altunbas, Yener & Molyneux, Philip & Thornton, John, 1997. "Big-Bank Mergers in Europe: An Analysis of the Cost Implications," Economica, London School of Economics and Political Science, vol. 64(254), pages 317-29, May. [Downloadable!] (restricted)
  6. Berger, Allen N, 1995. "The Relationship between Capital and Earnings in Banking," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 27(2), pages 432-56, May. [Downloadable!] (restricted)
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(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Carretta, Alessandro & Farina, Vincenzo & Schwizer, Paola, 2007. "M&A and post merger integration in banking industry: the missing link of corporate culture," MPRA Paper 8300, University Library of Munich, Germany. [Downloadable!]
  2. Alessio De Vincenzo & Claudio Doria & Carmelo Salleo, 2005. "The Motivations for Bank Takeovers: Some Empirical Evidence from Italy," Giornale degli Economisti, GDE (Giornale degli Economisti e Annali di Economia), Bocconi University, vol. 64(4), pages 327-358, December. [Downloadable!]
  3. Edward J. Kane, 2005. "Confronting Divergent Interests in Cross-Country Regulatory Arrangements," NBER Working Papers 11865, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  4. José Manuel Campa & Ignacio Hernando, 2005. "M&As performance in the European financial industry," Banco de España Working Papers 0516, Banco de España. [Downloadable!]
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  5. Edward J. Kane, 2006. "Confronting divergent interests in cross-country regulatory arrangements," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 69, pages 12p., June. [Downloadable!]
  6. Fotios Pasiouras & Chrysovalantis Gaganis & Constantin Zopounidis, 2006. "The impact of bank regulations, supervision, market structure, and bank characteristics on individual bank ratings: A cross-country analysis," Review of Quantitative Finance and Accounting, Springer, vol. 27(4), pages 403-438, December. [Downloadable!] (restricted)
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