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Bidder returns in bancassurance mergers: Is there evidence of synergy?

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  • Fields, L. Paige
  • Fraser, Donald R.
  • Kolari, James W.

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  • Fields, L. Paige & Fraser, Donald R. & Kolari, James W., 2007. "Bidder returns in bancassurance mergers: Is there evidence of synergy?," Journal of Banking & Finance, Elsevier, vol. 31(12), pages 3646-3662, December.
  • Handle: RePEc:eee:jbfina:v:31:y:2007:i:12:p:3646-3662
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    References listed on IDEAS

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    2. Estrella, Arturo, 2001. "Mixing and matching: Prospective financial sector mergers and market valuation," Journal of Banking & Finance, Elsevier, vol. 25(12), pages 2367-2392, December.
    3. Brown, Stephen J. & Warner, Jerold B., 1985. "Using daily stock returns : The case of event studies," Journal of Financial Economics, Elsevier, vol. 14(1), pages 3-31, March.
    4. Rosen, Richard J. & Lloyd-Davies, Peter R. & Kwast, Myron L. & Humphrey, David B., 1989. "New banking powers : A portfolio analysis of bank investment in real estate," Journal of Banking & Finance, Elsevier, vol. 13(3), pages 355-366, July.
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    6. Joseph G. Haubrich, 1998. "Bank diversification: laws and fallacies of large numbers," Economic Review, Federal Reserve Bank of Cleveland, issue Q II, pages 2-9.
    7. T. G. Parry, 1978. "Comment," Economic Papers, The Economic Society of Australia, vol. 1(57), pages 39-41, January.
    8. Sara B. Moeller & Frederik P. Schlingemann & René M. Stulz, 2005. "Wealth Destruction on a Massive Scale? A Study of Acquiring-Firm Returns in the Recent Merger Wave," Journal of Finance, American Finance Association, vol. 60(2), pages 757-782, April.
    9. Faccio, Mara & McConnell, John J. & Stolin, David, 2006. "Returns to Acquirers of Listed and Unlisted Targets," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 41(01), pages 197-220, March.
    10. David J. Denis & Diane K. Denis & Keven Yost, 2002. "Global Diversification, Industrial Diversification, and Firm Value," Journal of Finance, American Finance Association, vol. 57(5), pages 1951-1979, October.
    11. Saunders, Anthony & Walter, Ingo, 1994. "Universal Banking in the United States: What Could We Gain? What Could We Lose?," OUP Catalogue, Oxford University Press, number 9780195080698.
    12. R. A. Jolly, 1978. "Comment," Economic Papers, The Economic Society of Australia, vol. 1(60), pages 38-42, December.
    13. J. Nellie Liang & Donald T. Savage, 1990. "New data on the performance of nonbank subsidiaries of bank holding companies," Staff Studies 159, Board of Governors of the Federal Reserve System (U.S.).
    14. Amihud, Yakov & DeLong, Gayle L. & Saunders, Anthony, 2002. "The effects of cross-border bank mergers on bank risk and value," Journal of International Money and Finance, Elsevier, vol. 21(6), pages 857-877, November.
    15. Brown, Stephen J. & Warner, Jerold B., 1980. "Measuring security price performance," Journal of Financial Economics, Elsevier, vol. 8(3), pages 205-258, September.
    16. Sotiris K Staikouras, 2006. "Business Opportunities and Market Realities in Financial Conglomerates," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 31(1), pages 124-148, January.
    17. Moeller, Sara B. & Schlingemann, Frederik P. & Stulz, Rene M., 2004. "Firm size and the gains from acquisitions," Journal of Financial Economics, Elsevier, vol. 73(2), pages 201-228, August.
    18. Cara S. Lown & Carol L. Osler & Philip E. Strahan & Amir Sufi, 2000. "The changing landscape of the financial services industry: what lies ahead?," Economic Policy Review, Federal Reserve Bank of New York, issue Oct, pages 39-54.
    19. Houston, Joel F. & Ryngaert, Michael D., 1994. "The overall gains from large bank mergers," Journal of Banking & Finance, Elsevier, vol. 18(6), pages 1155-1176, December.
    20. DeLong, Gayle L., 2001. "Stockholder gains from focusing versus diversifying bank mergers," Journal of Financial Economics, Elsevier, vol. 59(2), pages 221-252, February.
    21. Gayle L. DeLong, 2003. "The Announcement Effects of U.S. versus non-U.S. Bank Mergers: Do They Differ?," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 26(4), pages 487-500.
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    23. Amel, Dean & Barnes, Colleen & Panetta, Fabio & Salleo, Carmelo, 2004. "Consolidation and efficiency in the financial sector: A review of the international evidence," Journal of Banking & Finance, Elsevier, vol. 28(10), pages 2493-2519, October.
    24. Cybo-Ottone, Alberto & Murgia, Maurizio, 2000. "Mergers and shareholder wealth in European banking," Journal of Banking & Finance, Elsevier, vol. 24(6), pages 831-859, June.
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    Cited by:

    1. Elyas Elyasiani & Sotiris K. Staikouras & Panagiotis Dontis-Charitos, 2016. "Cross-Industry Product Diversification and Contagion in Risk and Return: The case of Bank-Insurance and Insurance-Bank Takeovers," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 83(3), pages 681-718, September.
    2. Mühlnickel, Janina & Weiß, Gregor N.F., 2015. "Consolidation and systemic risk in the international insurance industry," Journal of Financial Stability, Elsevier, vol. 18(C), pages 187-202.
    3. repec:eee:jbfina:v:80:y:2017:i:c:p:1-13 is not listed on IDEAS
    4. Ines Ayadi, 2014. "Bancassurance in Tunisia: What Are the Efficiency Gains?," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 5(3), pages 159-166, July.
    5. Amporn SOONGSWANG, 2012. "Do M&A Enhance Values? Mixed Methods And Evidence," Journal of Applied Economic Sciences, Spiru Haret University, Faculty of Financial Management and Accounting Craiova, vol. 7(3(21)/ Fa), pages 312-325.
    6. Chuang-Yuang Lin & Hung-Ta Lee, 2010. "The Bigger the Better? Merger and Acquisition Performance of Financial Holding Corporations," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 46(1), pages 96-107, January.
    7. Pang-Ru Chang & Jin-Lung Peng & Chiang Ku Fan, 2011. "A Comparison of Bancassurance and Traditional Insurer Sales Channels," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 36(1), pages 76-93, January.
    8. Chuang-Yuang Lin & Hung-Ta Lee, 2010. "The Bigger the Better? Merger and Acquisition Performance of Financial Holding Corporations," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 46(1), pages 96-107, January.
    9. Staikouras, Sotiris K., 2009. "An event study analysis of international ventures between banks and insurance firms," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 19(4), pages 675-691, October.
    10. Chuang, Kai-Shi, 2014. "Financial advisors, financial crisis, and shareholder wealth in bank mergers," Global Finance Journal, Elsevier, vol. 25(3), pages 229-245.

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