Empirical Evidence on the Motives for Bank Mergers
Determinants of bank mergers are analyzed to get an indication of the motives for mergers. The analysis is based on 1,724 bank mergers and acquisitions from 1978 to 1983 using multinomial logit analysis for testing purposes. Market share of the target and per capita income stand out as attractive to acquiring firms, but growth and profits do not. Overall, the findings in this study do not point to any single motive for bank acquisitions. This is consistent with findings for the industrial sector and most other findings for banking.
Volume (Year): 15 (1989)
Issue (Month): 1 (Jan-Mar)
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- Jensen, Michael C. & Ruback, Richard S., 1983. "The market for corporate control : The scientific evidence," Journal of Financial Economics, Elsevier, vol. 11(1-4), pages 5-50, April.
- 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.
- Utton, M A, 1972. "Mergers and the Growth of Large Firms," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 34(2), pages 189-97, May.
- Jesse W. Markham, 1955. "Survey of the Evidence and Findings on Mergers," NBER Chapters, in: Business Concentration and Price Policy, pages 141-212 National Bureau of Economic Research, Inc.
- Samuel H. Talley, 1974. "The impact of holding company acquisitions on aggregate concentration in banking," Staff Studies 80, Board of Governors of the Federal Reserve System (U.S.).
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