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Determinantes de las fusiones y adquisiciones en el sistema financiero colombiano. 1990-2007

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  • Andrés Felipe García Suaza

    ()

  • José Eduardo Gómez Gónzalez

    ()

Abstract

El sistema financiero colombiano ha sufrido cambios importantes en lasúltimas décadas. Un periodo de expansión seguido de una profundacrisis económica repercutieron de manera importante en la estructura yconcentración de este mercado. Se ha analizado de manera amplia elefecto de la quiebra y la fusión de las instituciones financieras; sinembargo no se ha hecho un estudio microeconométrico paradeterminar los determinantes de este tipo de operaciones. Estedocumento se concentra en determinar cuales son las variables clavesque incentivan la participación de las instituciones financierascolombianas en operaciones de integración, mediante la estimación demodelos de duración y el uso de variables microeconómicas dedesempeño de las instituciones financieras y variables macro quereflejan el nivel de concentración del mercado y el desempeño de laeconomía.

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Bibliographic Info

Paper provided by BANCO DE LA REPÚBLICA in its series BORRADORES DE ECONOMIA with number 005294.

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Length: 29
Date of creation: 22 Feb 2009
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Handle: RePEc:col:000094:005294

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Keywords: fusiones y adquisición; integración; sector financiero; modelos de duración.;

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References

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  1. Dairo Estrada, 2005. "Efectos De Las Fusiones Sobre El Mercado Financiero Colombiano," BORRADORES DE ECONOMIA, BANCO DE LA REPÚBLICA 002424, BANCO DE LA REPÚBLICA.
  2. Focarelli, D. & Panetta, F. & Salleo, C., 1999. "Why do Banks Merge?," Papers, Banca Italia - Servizio di Studi 361, Banca Italia - Servizio di Studi.
  3. Kwast, Myron L., 1999. "Bank mergers: What should policymakers do?," Journal of Banking & Finance, Elsevier, Elsevier, vol. 23(2-4), pages 629-636, February.
  4. Benston, George J & Hunter, William C & Wall, Larry D, 1995. "Motivations for Bank Mergers and Acquisitions: Enhancing the Deposit Insurance Put Option versus Earnings Diversification," Journal of Money, Credit and Banking, Blackwell Publishing, Blackwell Publishing, vol. 27(3), pages 777-88, August.
  5. Timothy H. Hannan & Steven J. Pilloff, 2006. "Acquisition targets and motives in the banking industry," Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) 2006-40, Board of Governors of the Federal Reserve System (U.S.).
  6. Jalal D. Akhavein & Allen N. Berger & David B. Humphrey, 1997. "The effects of megamergers on efficiency and prices: evidence from a bank profit function," Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) 1997-9, Board of Governors of the Federal Reserve System (U.S.).
  7. Sergio Clavijo, 2000. "Hacia La Multibanca En Colombia:Retos Y "Retazos Financieros"," BORRADORES DE ECONOMIA, BANCO DE LA REPÚBLICA 002780, BANCO DE LA REPÚBLICA.
  8. Diaz, Belen Diaz & Olalla, Myriam Garcia & Azofra, Sergio Sanfilippo, 2004. "Bank acquisitions and performance: evidence from a panel of European credit entities," Journal of Economics and Business, Elsevier, Elsevier, vol. 56(5), pages 377-404.
  9. Worthington, Andrew C., 2004. "Determinants of merger and acquisition activity in Australian cooperative deposit-taking institutions," Journal of Business Research, Elsevier, Elsevier, vol. 57(1), pages 47-57, January.
  10. Gregor Andrade & Mark Mitchell & Erik Stafford, 2001. "New Evidence and Perspectives on Mergers," Journal of Economic Perspectives, American Economic Association, American Economic Association, vol. 15(2), pages 103-120, Spring.
  11. Oz Shy, 1996. "Industrial Organization: Theory and Applications," MIT Press Books, The MIT Press, The MIT Press, edition 1, volume 1, number 0262691795, December.
  12. Dean F. Amel & Stephen A. Rhoades, 1989. "Empirical Evidence on the Motives for Bank Mergers," Eastern Economic Journal, Eastern Economic Association, Eastern Economic Association, vol. 15(1), pages 17-27, Jan-Mar.
  13. Dario Focarelli & Fabio Panetta & Carmelo Salleo, 1999. "Why Do Banks Merge?," Temi di discussione (Economic working papers), Bank of Italy, Economic Research and International Relations Area 361, Bank of Italy, Economic Research and International Relations Area.
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Cited by:
  1. Andrés Felipe García-Suaza & José Eduardo Gómez-González, 2009. "The Competing Risks of Acquiring and Being Acquired: Evidence from Colombia´s Financial Sector," BORRADORES DE ECONOMIA, BANCO DE LA REPÚBLICA 005676, BANCO DE LA REPÚBLICA.
  2. José Eduardo Gómez Gónzalez & Jorge Marío Uribe Gil & Hernán Piñeros Gordo, . "Determinantes de la Rentabilidad de los Bancos en Colombia: ¿Importa la Tasa de Cambio?," Borradores de Economia 556, Banco de la Republica de Colombia.

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