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The role of timing at Mergers and Acquisitions in the banking industry

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  • Luisa Mueller
  • Dirk Schiereck

Abstract

We identify 72 bank Mergers and Acquisitions (M&As), in which US banks acquired other financial institutions. We focus on the role of timing at M&A in the context of boom phase and financial crisis. Applying event study methodology, we examine: value generation to bank shareholders; value implications on bank shareholders according to rival banks' M&A considering whether transactions are undertaken prior to or during crisis. Since we identify JPMorgan Chase & Co. as crisis winner, we compare its returns with the results of competitors. The findings partially confirm our hypotheses that a well-performing bank creates value through M&A.

Suggested Citation

  • Luisa Mueller & Dirk Schiereck, 2011. "The role of timing at Mergers and Acquisitions in the banking industry," International Journal of Monetary Economics and Finance, Inderscience Enterprises Ltd, vol. 4(1), pages 49-76.
    • Handle: RePEc:ids:ijmefi:v:4:y:2011:i:1:p:49-76
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