Mergers And Acquisitions In The Portuguese Banking Industry: Is It There A Process Of Value Creation?
This paper examines the valuation effects of mergers & acquisitions in the Portuguese banking industry from 1995 to 2003 over a 41-day (-20, +20) event window. Evidence shows some targets gains, but no gains for the bidders. The combined entity (target+bidder) shows no significant gains contradicting some other European studies but confirming the great majority of American research.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Marc Goergen & Luc Renneboog, 2004.
"Shareholder Wealth Effects of European Domestic and Cross-border Takeover Bids,"
European Financial Management,
European Financial Management Association, vol. 10(1), pages 9-45.
- Goergen, M. & Renneboog, L.D.R., 2002. "Shareholder Wealth Effects of European Domestic and Cross-Border Takeover Bids," Discussion Paper 2002-50, Tilburg University, Center for Economic Research.
- Jason Karceski & Steven Ongena & David C. Smith, 2000.
"The impact of bank consolidation on commercial borrower welfare,"
International Finance Discussion Papers
679, Board of Governors of the Federal Reserve System (U.S.).
- Jason Karceski & Steven Ongena & David C. Smith, 2005. "The Impact of Bank Consolidation on Commercial Borrower Welfare," Journal of Finance, American Finance Association, vol. 60(4), pages 2043-2082, 08.
- Karceski, J. & Ongena, S. & Smith, D.C., 2000. "The Impact of Bank Consolidation on Commercial Borrower Welfare," Discussion Paper 2000-87, Tilburg University, Center for Economic Research.
- Pilloff, Steven J, 1996. "Performance Changes and Shareholder Wealth Creation Associated with Mergers of Publicly Traded Banking Institutions," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 28(3), pages 294-310, August.
When requesting a correction, please mention this item's handle: RePEc:wpa:wuwpfi:0503002. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (EconWPA)
If references are entirely missing, you can add them using this form.