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Author : Randolph Beatty
Publisher :
ISBN 13 :
Total Pages : 50 pages
Book Rating : 4.3/5 (512 download)
Download or read book Bank Merger Premiums written by Randolph Beatty and published by . This book was released on 1987 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Tara J. Shawver
Publisher :
ISBN 13 :
Total Pages : 288 pages
Book Rating : 4.:/5 (56 download)
Download or read book Determinants of Bank Merger Premiums written by Tara J. Shawver and published by . This book was released on 2001 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Benton E. Gup
Publisher : Springer Science & Business Media
ISBN 13 : 9400925247
Total Pages : 242 pages
Book Rating : 4.4/5 (9 download)
Download or read book Bank Mergers: Current Issues and Perspectives written by Benton E. Gup and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: Historians of our financial system will record this as an age of deregulation and bank mergers. Deregulation, a cornerstone of President Reagan's Administration, resulted in federal and state legislation that contributed to increased competition for financial services and increased merger activity. During the 1981-1986 period, there were 2,139 mergers in banking and finance, accounting for 16 percent of total merger activity.l More mergers occurred in banking and finance than in any other industry. Because of these bank mergers, there are vast amounts of data avail able for scholarly research. This book presents some results of that research which will be of interest to academics, bankers, investors, legislators, and regulators. The book consists of ten articles, and it is divided into three parts. Part 1: National and Regional Bank Mergers gives a broad perspective of merger activity. The first article by Peter S. Rose compared the growth of bank holding companies that merged with those that did not merge. One conclusion of his study was that banks planning mergers tended to be aggressively managed and were often beset by problems, such as low profitability or declining loan quality. Mergers were one solution to their problems. But he found no solid evidence that mergers resulted in greater profitability or reduced risk. He also observed that acquiring banks did not seem to grow faster than those choosing not to merge.
Author : Ashford Maharaj
Publisher : iUniverse
ISBN 13 : 0595356400
Total Pages : 209 pages
Book Rating : 4.5/5 (953 download)
Download or read book Megabank Consolidations in the United States written by Ashford Maharaj and published by iUniverse. This book was released on 2005-07 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: Megabank consolidations in the United States: The enigma continues, investigates merger of equals among megabanks as a business model and also postulates that higher premiums are paid for the right to integrate with the very large banks versus that paid for the right to integrate with relatively smaller banks. By introducing merger of equals and megabank premium comparatives, the author has filled a void left vacant by previous researchers investigating inorganic growth among banks in the U.S. banking industry. Decision makers, academicians, policy makers, and students of finance will once more be looking for "what is out there" in order to guide understandings and decisions re the integration aspects among financial intermediaries. The book sought to illuminate a clarity of understanding involving the analysis and interpretation of organic versus inorganic growth among megabanks in the United States. Despite the general destruction of shareholders incremental value brought about through inorganic growth, the enigma continues in that banks proceed to integrate at an accelerating pace over the past two decades, though there was a brief lull early in this new Millennium.
Author : Ashford Maharaj
Publisher : Universal-Publishers
ISBN 13 : 1581122276
Total Pages : 256 pages
Book Rating : 4.5/5 (811 download)
Download or read book Bank Mergers and Acquisitions in the United States 1990 -1997 written by Ashford Maharaj and published by Universal-Publishers. This book was released on 2002-06 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study focused on factors that have positively influenced the model of economic success for commercial and thrift megabanks involved in merger and acquisition activities for the period 1990 - 1997, a period characterized by an unprecedented flurry of merger and acquisition activities among megabanks in the United States. This study identified and measured key independent variables for identifiable mergers and acquisitions among megabanks and tested the extent to which, such independent variables influenced abnormal returns for underlying equities traded in capital markets. This study also tested the hypothesis that megabanks are attracting significantly higher acquisition premiums than the relatively smaller banks. The data collected and the conclusions drawn were based on the logic of a hypothetico-deductive paradigm, which essentially utilized the techniques of the standard event study methodology, and included parameters of the conventional Capital Asset Pricing Model. This study was based on a scientifically determined sample of over 200 banks in the small bank category and between 68 and 86 banks grouped under the megabank category. The findings revealed that megebank acquirers realized negative abnormal returns and that megabank acquirees did not realize economic value significantly greater than acquirers for those banks that integrated on a merger-of-equals basis. The findings also showed that megabanks seemed more willing to pay higher premiums for the right to integrate with other megabanks vis-a-vis the right to integrate with small banks.
Author : Jerry L. Knutson
Publisher :
ISBN 13 :
Total Pages : 306 pages
Book Rating : 4.:/5 (532 download)
Download or read book Financial Determinants of Merger Premiums in the Investment Banking Industry written by Jerry L. Knutson and published by . This book was released on 2002 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Daniel Wülbern
Publisher : GRIN Verlag
ISBN 13 : 3656983275
Total Pages : 98 pages
Book Rating : 4.6/5 (569 download)
Download or read book Mergers and Acquisitions in the European Banking Sector / Fusionen und Akquisitionen im Europäischen Banken Sektor written by Daniel Wülbern and published by GRIN Verlag. This book was released on 2014-05-12 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt: Diploma Thesis from the year 2005 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: 0, ESCP Europe Business School - Campus Paris, language: English, abstract: Ziel der Arbeit ist es, Treiber und Erfolgsfaktoren von M&A Operationen im Europäischen Bankensektor zu identifizieren und zu analysieren. Methodologisch wurde hierbei auf die Fallstudienanalyse sowie empirische Untersuchungen zurückgegriffen. Die Arbeit mündet in der Entwicklung verschiedener Szenarien einer zukünftigen Konsolidierung des Bankensektors sowohl innerhalb der einzelnen EU Staaten als auch cross-border.
Author : Belen Diaz Diaz
Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.:/5 (129 download)
Download or read book Determinants of Premiums Paid in European Banking Mergers and Acquisitions written by Belen Diaz Diaz and published by . This book was released on 2008 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study aims at analysing the determinants of the premium paid in European banking mergers and acquisitions (Mamp;A). This analysis will highlight the reasons for the bank Mamp;A wave during the 1990s.The empirical study analyses a sample of 81 European banking mergers and acquisitions from 1994 to 2000.The results show that there are different variables that make the target bank attractive for the acquirer, such as the percentage of equity, the percentage of loans and financial profitability. However, geographical and product diversification have not been considered by the acquirers as a reason to pay higher premiums. Moreover, when analysing a sub-sample of savings banks and cooperatives, it is found that Mamp;A deals have been used as a protection measure to avoid being acquired, since these acquisitions aim at attaining a great size, what implies higher premiums are paid for mergers between equals, for acquisitions of higher banks and by those who show lower growth.
Author : Hany A. Shawky
Publisher :
ISBN 13 :
Total Pages : 15 pages
Book Rating : 4.:/5 (6 download)
Download or read book Determinants of Bank Merger Premiums written by Hany A. Shawky and published by . This book was released on 1996 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Yakov Amihud
Publisher : Springer Science & Business Media
ISBN 13 : 9780792399759
Total Pages : 268 pages
Book Rating : 4.3/5 (997 download)
Download or read book Bank Mergers & Acquisitions written by Yakov Amihud and published by Springer Science & Business Media. This book was released on 1998-02-28 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the financial services industry becomes increasingly international, the more narrowly defined and historically protected national financial markets become less significant. Consequently, financial institutions must achieve a critical size in order to compete. Bank Mergers & Acquisitions analyses the major issues associated with the large wave of bank mergers and acquisitions in the 1990's. While the effects of these changes have been most pronounced in the commercial banking industry, they also have a profound impact on other financial institutions: insurance firms, investment banks, and institutional investors. Bank Mergers & Acquisitions is divided into three major sections: A general and theoretical background to the topic of bank mergers and acquisitions; the effect of bank mergers on efficiency and shareholders' wealth; and regulatory and legal issues associated with mergers of financial institutions. It brings together contributions from leading scholars and high-level practitioners in economics, finance and law.
Author : Elaine Sow Mun Yee
Publisher :
ISBN 13 :
Total Pages : 120 pages
Book Rating : 4.:/5 (969 download)
Download or read book Determinants of Bank Merger Premiums written by Elaine Sow Mun Yee and published by . This book was released on 2006 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Atul Gupta
Publisher :
ISBN 13 :
Total Pages : 26 pages
Book Rating : 4.:/5 (31 download)
Download or read book Deal Size, Bid Premium, and Gains in Bank Mergers written by Atul Gupta and published by . This book was released on 2007 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: Do relatively large mergers create more value? Do larger bid amounts represent wealth transfers or do they signal larger expected merger gains? We hypothesize that the relationship between aggregate merger gains, deal size, and bid premiums, is asymmetric across mergers made by value-enhancing versus value-reducing managers. We use a large sample of bank mergers to test these predictions and find that the value response to different explanatory variables is asymmetric. Our findings provide new insights into how the market values merger bids.
Author : Jens Hagendorff
Publisher :
ISBN 13 :
Total Pages : 34 pages
Book Rating : 4.:/5 (13 download)
Download or read book What Do Premiums Paid for Bank M&As Reflect? The Case of the European Union written by Jens Hagendorff and published by . This book was released on 2014 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: We analyze the takeover premiums paid for a sample of European bank mergers between 1997 and 2007. We find that acquiring banks value profitable, high-growth and low risk targets. We also find that the strength of bank regulation and supervision as well as deposit insurance regimes in Europe have measurable effects on takeover pricing. Stricter bank regulatory regimes and stronger deposit insurance schemes lower the takeover premiums paid by acquiring banks. This result, presumably in anticipation of higher compliance costs, is mainly driven by domestic deals. Also, we find no conclusive evidence that bidders seek to extract benefits from regulators either by paying a premium for deals in less regulated regimes or by becoming "too big to fail"
Author : Mohamed Khaled Al-Jafari
Publisher :
ISBN 13 :
Total Pages : 292 pages
Book Rating : 4.:/5 (417 download)
Download or read book An Empirical Investigation of the Determinants of Bank Mergers and Acquisition Premium written by Mohamed Khaled Al-Jafari and published by . This book was released on 1998 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Harry C. Henderson
Publisher :
ISBN 13 :
Total Pages : 150 pages
Book Rating : 4.:/5 (436 download)
Download or read book The Key Variables which Help to Explain Large Commercial Bank Merger and Acquisition Premiums written by Harry C. Henderson and published by . This book was released on 1999 with total page 150 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Anne Carolyn Kelting
Publisher :
ISBN 13 :
Total Pages : 202 pages
Book Rating : 4.:/5 (176 download)
Download or read book Where's the Beef?--an Analysis of Premiums Paid in Interstate Banking Mergers written by Anne Carolyn Kelting and published by . This book was released on 1987 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Julapa Jagtiani
Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.:/5 (129 download)
Download or read book Target's Corporate Governance and Bank Merger Payoffs written by Julapa Jagtiani and published by . This book was released on 2013 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Commercial bank merger and acquisition (Mamp;A) transactions are especially informative for analyzing the impact of differing corporate governance structures on the balance of corporate control between managers and shareholders. We exploit these special characteristics to investigate the balance of control between top-tier managers and shareholders using data from bank Mamp;A transactions over the period 1990-2004. Unlike research on non-financial firms, the impacts of independent directors, managerial share ownership, and independent blockholders on bank merger purchase premiums in this environment are likely to be measured more consistently because of industry operating standards and regulations. It is also the case that research on banks in this area has not received adequate attention. Our model controls for risk characteristics of the target and the acquiring banks, the deal characteristics, and the economic environment. The results are robust. Our results are consistent with those found for non-financial firms, and are consistent with the hypothesis that independent directors could provide an important internal governance mechanism for protecting shareholders' interests especially in large scale transactions such as mergers and takeovers. We also find results consistent with the conflict of interest argument, where top-tier managers tend to trade potential takeover gains in return for their own personal benefits, such as job security and other employment related perquisites. Our overall findings would support policies that promote independent outside directors on the board of commercial banking firms in order to provide protection for shareholders and investors at large.
