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Are There Conditions That Can Predict When an M&A Works? The Case of Italian Listed Banks

Author

Listed:
  • Roberta Arbolino

    (Department of Human and Social Science, University of Naples L’Orientale, 80134 Naples, Italy)

  • Raffaele Boffardi

    (Department of Human and Social Science, University of Naples L’Orientale, 80134 Naples, Italy)

  • Konstantinos Kounetas

    (Department of Economics, University of Patras, 26504 Patras, Greece)

  • Ugo Marani

    (Department of Human and Social Science, University of Naples L’Orientale, 80134 Naples, Italy)

  • Oreste Napolitano

    (Department of Business and Economic Studies, University of Naples Parthenope, 80132 Naples, Italy)

Abstract

This paper investigates the impact in the short/medium term of M&As made by 14 Italian banks quoted on the stock exchange for the period 1999–2016. After dividing the banks into two groups by size and degree of internationalisation, we sought to ascertain whether different initial conditions produce different final effects. Based on three assumptions, supported by three separate econometric approaches, our empirical analysis shows that the stronger banks increased their competitiveness while the weaker banks did not achieve the same results since they were motivated to grow “by desperation”.

Suggested Citation

  • Roberta Arbolino & Raffaele Boffardi & Konstantinos Kounetas & Ugo Marani & Oreste Napolitano, 2024. "Are There Conditions That Can Predict When an M&A Works? The Case of Italian Listed Banks," Economies, MDPI, vol. 12(3), pages 1-33, February.
    • Handle: RePEc:gam:jecomi:v:12:y:2024:i:3:p:58-:d:1346121
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    References listed on IDEAS

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