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How to identify targets in the M&A banking operations? Case of cross-border strategies in Europe by line of activity

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  • Mehrez Ben Slama
  • Dhafer Saidane
  • Hassouna Fedhila

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  • Mehrez Ben Slama & Dhafer Saidane & Hassouna Fedhila, 2012. "How to identify targets in the M&A banking operations? Case of cross-border strategies in Europe by line of activity," Review of Quantitative Finance and Accounting, Springer, vol. 38(2), pages 209-240, February.
    • Handle: RePEc:kap:rqfnac:v:38:y:2012:i:2:p:209-240
    DOI: 10.1007/s11156-010-0224-x
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    References listed on IDEAS

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    1. Wheelock, David C. & Wilson, Paul W., 2004. "Consolidation in US banking: Which banks engage in mergers?," Review of Financial Economics, Elsevier, vol. 13(1-2), pages 7-39.
    2. Focarelli, Dario & Pozzolo, Alberto Franco, 2001. "The patterns of cross-border bank mergers and shareholdings in OECD countries," Journal of Banking & Finance, Elsevier, vol. 25(12), pages 2305-2337, December.
    3. Laeven, Luc & Levine, Ross, 2007. "Is there a diversification discount in financial conglomerates?," Journal of Financial Economics, Elsevier, vol. 85(2), pages 331-367, August.
    4. Vander Vennet, Rudi, 2002. "Cost and Profit Efficiency of Financial Conglomerates and Universal Banks in Europe," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 34(1), pages 254-282, February.
    5. King, Gary & Zeng, Langche, 2001. "Logistic Regression in Rare Events Data," Political Analysis, Cambridge University Press, vol. 9(2), pages 137-163, January.
    6. Trimbath, Susanne & Frydman, Halina & Frydman, Roman, 2001. "Cost Inefficiency, Size of Firms and Takeovers," Review of Quantitative Finance and Accounting, Springer, vol. 17(4), pages 397-420, December.
    7. Henry G. Manne, 1965. "Mergers and the Market for Corporate Control," Journal of Political Economy, University of Chicago Press, vol. 73, pages 110-110.
    8. Henry G. Manne, 1965. "Mergers and the Market for Corporate Control," Journal of Political Economy, University of Chicago Press, vol. 73, pages 351-351.
    9. Rossi, Stefano & Volpin, Paolo F., 2004. "Cross-country determinants of mergers and acquisitions," Journal of Financial Economics, Elsevier, vol. 74(2), pages 277-304, November.
    10. Levine, Paul & Aaronovitch, Sam, 1981. "The Financial Characteristics of Firms and Theories of Merger Activity," Journal of Industrial Economics, Wiley Blackwell, vol. 30(2), pages 149-172, December.
    11. Yi-Cheng Shih & Bai-Jia Hsu, 2009. "Does Stock Misvaluation Differentiate the Motives for Takeovers?," Review of Pacific Basin Financial Markets and Policies (RPBFMP), World Scientific Publishing Co. Pte. Ltd., vol. 12(03), pages 545-566.
    12. Fotios Pasiouras & Chrysovalantis Gaganis, 2007. "Financial characteristics of banks involved in acquisitions: evidence from Asia," Applied Financial Economics, Taylor & Francis Journals, vol. 17(4), pages 329-341.
    13. Ronan G. Powell, 1997. "Modelling Takeover Likelihood," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 24(7‐8), pages 1009-1030, September.
    14. Hannan, Timothy H & Rhoades, Stephen A, 1987. "Acquisition Targets and Motives: The Case of the Banking Industry," The Review of Economics and Statistics, MIT Press, vol. 69(1), pages 67-74, February.
    15. Barth, James R.*Caprio,Gerard*Levine, Ross, 2001. "The regulation and supervision of banks around the world - a new database," Policy Research Working Paper Series 2588, The World Bank.
    16. Cudd, Mike & Duggal, Rakesh, 2000. "Industry Distributional Characteristics of Financial Ratios: An Acquisition Theory Application," The Financial Review, Eastern Finance Association, vol. 35(1), pages 105-120, February.
    17. Liang, Nellie & Rhoades, Stephen A., 1988. "Geographic diversification and risk in banking," Journal of Economics and Business, Elsevier, vol. 40(4), pages 271-284, November.
    18. Ronan G. Powell, 2001. "Takeover Prediction and Portfolio Performance: A Note," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 28(7‐8), pages 993-1011, September.
    19. Julapa Jagtiani & James Kolari & Catharine Lemieux & G. Hwan Shin, 2003. "Early warning models for bank supervision: Simpler could be better," Economic Perspectives, Federal Reserve Bank of Chicago, vol. 27(Q III), pages 49-60.
    20. Palepu, Krishna G., 1986. "Predicting takeover targets : A methodological and empirical analysis," Journal of Accounting and Economics, Elsevier, vol. 8(1), pages 3-35, March.
    21. Buch, Claudia M. & DeLong, Gayle, 2004. "Cross-border bank mergers: What lures the rare animal?," Journal of Banking & Finance, Elsevier, vol. 28(9), pages 2077-2102, September.
    22. Robin Nuttall, 1999. "Takeover Likelihood Models for UK Quoted Companies," Economics Series Working Papers 1999-W06, University of Oxford, Department of Economics.
    23. Ronan G. Powell, 2004. "Takeover Prediction Models and Portfolio Strategies: A Multinomial Approach," Multinational Finance Journal, Multinational Finance Journal, vol. 8(1-2), pages 35-72, March-Jun.
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    Cited by:

    1. Mamun, Abdullah & Tannous, George & Zhang, Sicong, 2021. "Do regulatory bank mergers improve operating performance?," International Review of Economics & Finance, Elsevier, vol. 73(C), pages 152-174.
    2. George Halkos & Roman Matousek & Nickolaos Tzeremes, 2016. "Pre-evaluating technical efficiency gains from possible mergers and acquisitions: evidence from Japanese regional banks," Review of Quantitative Finance and Accounting, Springer, vol. 46(1), pages 47-77, January.
    3. Jamal Al-Khasawneh, 2013. "Pairwise X-efficiency combinations of merging banks: analysis of the fifth merger wave," Review of Quantitative Finance and Accounting, Springer, vol. 41(1), pages 1-28, July.
    4. Jeffrey Harrison & Matthew Hart & Derek Oler, 2014. "Leverage and acquisition performance," Review of Quantitative Finance and Accounting, Springer, vol. 43(3), pages 571-603, October.
    5. Chiuling Lu & Tzujui Mao & Yang-pin Shen, 2015. "Beyond friendly acquisitions: the case of REITs," Review of Quantitative Finance and Accounting, Springer, vol. 44(1), pages 139-159, January.
    6. George E. Halkos & Roman Matousek & Nickolaos G. Tzeremes, 2016. "Pre-evaluating technical efficiency gains from possible mergers and acquisitions: evidence from Japanese regional banks," Review of Quantitative Finance and Accounting, Springer, vol. 46(1), pages 47-77, January.
    7. SGHAIER Asma & LAHDHIRI Manelle, 2014. "The Efficiency’s Analysis of Islamic Banks in Mena Countries: Trends and Perspectives," Indian Journal of Commerce and Management Studies, Educational Research Multimedia & Publications,India, vol. 5(1), pages 36-46, January.

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    More about this item

    Keywords

    Cross-border M&A; Bank; Identification of targets; Activity; Multinomial Logit; C35; G21; G24; G34;
    All these keywords.

    JEL classification:

    • C35 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance

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