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Efficiency from Bank Mergers and Acquisitions in Bulgaria

Author

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  • PhD Student Stefan Kutsarov

    (University of Economics - Varna)

Abstract

Bank mergers and acquisitions are leading to different changes in the bank and financial sector in each country. They have a direct impact on the efficiency of banks and their operational performance. The main objective of this paper is to investigate the changes in the efficiency of consolidated banks compared to those that do not participate in such processes, i.e., to analyze the relationship "scale - efficiency" in the banking sector in Bulgaria. For measuring the efficiency are used performance indicators ROA and ROE in seven years. The results show that the M and As of banks from the first group lead to an increase in efficiency, but such a trend is not observed in banks from the second and third groups. Empirical research partially confirms the hypothesis that consolidated banks increase their efficiency compared to the banks that form them mainly in the banks of the first group. Comparison of consolidated and non-consolidated banks shows that mergers and acquisitions are not a secure approach to increasing banking efficiency.

Suggested Citation

  • PhD Student Stefan Kutsarov, 2021. "Efficiency from Bank Mergers and Acquisitions in Bulgaria," An Annual Book of University of Economics - Varna, University of Economics - Varna, vol. 91(1), pages 203-244, January.
    • Handle: RePEc:vrn:yrbook:y:2021:i:1:p:203-244
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    More about this item

    Keywords

    banks; M and As; efficiency;
    All these keywords.

    JEL classification:

    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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