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Міжнародні Злиття Та Поглинання У Фінансовому Секторі: Світові Тенденції Та Особливості Прояву В Україні
[International mergers and acquisitions in financial sector: global trends and theirs features in Ukraine]

Author

Listed:
  • Shumska, Svitlana
  • Stepanenko-Lypovyk, Bohdana

Abstract

Specific feature of the present stage of financial markets development is strengthening of internationalization processes, manifested in erasing national borders between states, formation of international financial market, establishment of transnational financial corporations as well as growing inflows of foreign capital in the financial sector of emerging markets. Due to the financial crisis of 2008 strengthening of internationalization of financial markets led to increased risks associated with the presence of foreign capital in the financial system. Expansion of the crisis in Ukraine's financial sector was supported by the presence in the banking system of a significant share of the capital of foreign banks, parent institutions of which were affected by the global financial crisis and became one of the channels of its expansion. The article’s object is to summarize features and trends of mergers and acquisitions (M&A) processes on both the global financial market and Ukrainian banking sector. Also, the likely reasons of reducing of the number and value of M&A deals in Europe and Ukraine in 2006-2011 were denoted. The change of qualitative characteristics of mergers and acquisitions in the Ukrainian banking sector was shown on the basis of the value evaluation of banks that were sold to foreign investors. The countries of origin of capital directed on M&A transactions with Ukrainian banking institutions were determined, which made possible to detect changes in the geographical structure of the inflow of foreign capital in the domestic banking sector. The impact of financial crisis of 2008 on the financial stability of banks with both Ukrainian and foreign capital was shown. On the base of the conducted research the threats that are distinctive for the current stage of development of the financial market of Ukraine were substantiated.

Suggested Citation

  • Shumska, Svitlana & Stepanenko-Lypovyk, Bohdana, 2012. "Міжнародні Злиття Та Поглинання У Фінансовому Секторі: Світові Тенденції Та Особливості Прояву В Україні [International mergers and acquisitions in financial sector: global trends and theirs featur," MPRA Paper 48426, University Library of Munich, Germany, revised Jul 2013.
    • Handle: RePEc:pra:mprapa:48426
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    References listed on IDEAS

    as
    1. Beltratti, Andrea & Paladino, Giovanna, 2013. "Is M&A different during a crisis? Evidence from the European banking sector," Journal of Banking & Finance, Elsevier, vol. 37(12), pages 5394-5405.
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    More about this item

    Keywords

    Mergers and acquisitions; foreign capital; financial market; banking sector; capital outflows.;
    All these keywords.

    JEL classification:

    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance

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