The price of bank mergers in the 1990s
AbstractThis article examines the primary motivations for the massive wave of bank mergers in the U.S. during the 1990s by analyzing the prices paid for target banks. The authors find that these prices reflect both general market and firm-specific characteristics. For example, the lifting of regulatory restrictions on geographic markets for bank mergers has a significant impact on the average price paid. Additionally, more profitable target banks tend to command a significantly higher market price.
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Bibliographic InfoArticle provided by Federal Reserve Bank of Chicago in its journal Economic Perspectives.
Volume (Year): (2000)
Issue (Month): Q I ()
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- Allen N. Berger & Robert DeYoung & Hesna Genay & Gregory F. Udell, 2000.
"Globalization of financial institutions: evidence from cross-border banking performance,"
Finance and Economics Discussion Series
2000-04, Board of Governors of the Federal Reserve System (U.S.).
- 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.
- Binder, John J, 1988. "The Sherman Antitrust Act and the Railroad Cartels," Journal of Law and Economics, University of Chicago Press, vol. 31(2), pages 443-68, October.
- Ingo Walter & Markus M. Schmid, 2006. "Do Financial Conglomerates Create or Destroy Economic Value?," Working Papers 06-28, New York University, Leonard N. Stern School of Business, Department of Economics.
- Carow, Kenneth A. & Cox, Steven R. & Roden, Dianne M., 2004. "Mutual holding companies: Evidence of conflicts of interest through disparate dividends," Journal of Banking & Finance, Elsevier, vol. 28(2), pages 277-298, February.
- Elijah Brewer, III & William E. Jackson, III & Julapa Jagtiani, 2010. "Corporate governance structure and mergers," Working Papers 10-26, Federal Reserve Bank of Philadelphia.
- Hunter, William C. & Jagtiani, Julapa, 2003. "An analysis of advisor choice, fees, and effort in mergers and acquisitions," Review of Financial Economics, Elsevier, vol. 12(1), pages 65-81.
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