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Determinants Of Cross Border Bank Acquisitions In Transition Economies
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Book Synopsis Determinants of Cross-Border Bank Acquisitions in Transition Economies by : Tigran Poghosyan
Download or read book Determinants of Cross-Border Bank Acquisitions in Transition Economies written by Tigran Poghosyan and published by . This book was released on 2013 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: We analyze the microeconomic determinants of cross-border bank acquisitions in 16 transition economies over the period 1996-2006. By using a latent class discrete choice model we explicitly incorporate the macroeconomic and institutional heterogeneity of the transition economies into our analysis. We find that foreign banks target relatively large and efficient banks when they enter transition economies with weak institutions. This evidence provides support for the market power hypothesis. However, when foreign banks enter more developed transition economies that have made progress in economic reform, they acquire less efficient banks. This result is in line with the efficiency hypothesis.
Book Synopsis Determinants of Cross-border Bank Acquisitions in Transition Economies by : Tigran Poghosyan
Download or read book Determinants of Cross-border Bank Acquisitions in Transition Economies written by Tigran Poghosyan and published by . This book was released on 2008 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Cross-border Bank Acquisitions by : Ricardo Corrêa
Download or read book Cross-border Bank Acquisitions written by Ricardo Corrêa and published by . This book was released on 2008 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper uses a unique database that includes deal and bank balance sheet information for 220 cross-border acquisitions between 1994 and 2003 to analyze the characteristics and performance effects of international takeovers on target banks. A discrete choice estimation shows that banks are more likely to get acquired in a cross-border deal if they are large, bad performers, in a small country, and when the banking sector is concentrated. Post-acquisition performance for target banks does not improve in the first two years relative to domestically-owned financial institutions. This result is explained by a decrease in the banks' net interest margin in developed countries and an increase in overhead costs in emerging economies.
Book Synopsis Determinants of Domestic and Cross-Border Bank Acquisitions in the European Union by : Ignacio Hernando
Download or read book Determinants of Domestic and Cross-Border Bank Acquisitions in the European Union written by Ignacio Hernando and published by . This book was released on 2014 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the determinants of bank acquisitions both within and across countries in the EU-25 over the period 1997-2004. The findings of this paper are broadly in line with those of the academic literature on the subject, which are mainly based on the US experience. Our results suggest poorly managed EU-25 banks (high cost to income) are more likely to be acquired by other EU-25 banks, in the same country. Nevertheless, this underperformance of target banks does hold for cross border bank acquisitions only if compared to the median of the market. Larger banks are more likely to be acquired by other banks in the same country. The probability of being acquired by another bank in the same market is larger for banks that are quoted in the stock market, which is consistent with the disciplinary character of listing in the stock markets. Finally, banks operating in more concentrated markets are less likely to be acquired by other banks operating within the same country but are more likely to be acquired by banks in other EU-25 countries.
Book Synopsis The Determinants of Cross-border Bank Flows to Emerging Markets by : Sabine Herrmann
Download or read book The Determinants of Cross-border Bank Flows to Emerging Markets written by Sabine Herrmann and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Influences of Firm- and Macro-Level Determinants on the Probability of Cross-Border Mergers and Acquisitions by : Ricardo Falter
Download or read book Influences of Firm- and Macro-Level Determinants on the Probability of Cross-Border Mergers and Acquisitions written by Ricardo Falter and published by GRIN Verlag. This book was released on 2015-07-23 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2015 in the subject Business economics - Investment and Finance, grade: 8,5, Erasmus University Rotterdam (Rotterdam School of Management), language: English, abstract: While the influences of macro-level determinants on cross-border transactions have been investigated in several studies before, firm-level determinants have mostly been excluded in those studies. This study finds that firm-level determinants have a substantial influence on the probability a firm’s decision to acquire a company in a foreign country. The result is even more pronounced in transactions where the acquirer’s and the target’s business operations are related to each other. In unrelated transactions, it was found that acquirers are more influenced by domestic and foreign stock market valuations as well as the relative value of their currency. This seems to proof the fire-sale theory as well as the risk reduction through diversification theory. It is concluded that unrelated transactions are more opportunistic, while related transactions are based on firm-specific business strategic reasons. A firm’s amount of excess cash has been included as a firm-level determinant into the probit model of this study. This variable is fairly new to this kind of studies and its results offer deeper insights into the relationship between transaction probability, determinants and relatedness. This study extents the existing body of academic literature on cross-border mergers and acquisitions by investigating firm- as well as macro-level determinants, while simultaneously taking the relatedness between the transaction parties into account. In order to verify the results, further research into this area is strongly encouraged.
Book Synopsis The Determinants of Cross-border Bank Shareholdings by : Dario Focarelli
Download or read book The Determinants of Cross-border Bank Shareholdings written by Dario Focarelli and published by . This book was released on 2000 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Determinants of Domestic and Cross-border Bank Acquisition in the European Union by : Ignacio Hernando
Download or read book Determinants of Domestic and Cross-border Bank Acquisition in the European Union written by Ignacio Hernando and published by . This book was released on 2008 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Patterns of Cross-Border Bank Mergers and Shareholdings in OECD Countries by : Dario Focarelli
Download or read book The Patterns of Cross-Border Bank Mergers and Shareholdings in OECD Countries written by Dario Focarelli and published by . This book was released on 2002 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years there has been a surge in mergers and aquisitions in all sectors of economic activity. Cross-border operations have followed this trend, creating global companies operating in all major world markets. In this paper we study the pattern of cross-border Mamp;As in the banking industry relative to the non-financial sector of the economy and investigate which factors make it more likely that a bank will expand its ctivities abroad. We find that cross-border Mamp;As are rarer in banking than in other sectors, possibly owing to the importance of information asymmetries in banking relationships and to egulatory restrictions. Using data on almost 2,500 banks from 29 OECD countries, we also show that the most significant features of banks with foreign equity interests relate to efficiency: banks with cross-border shareholdings are on average larger, more profitable, and based in countries with a more highly developed banking market.
Book Synopsis The Impact of Cross-Border Acquisitions on Target Banks' Performance in an Institutionally Poor Environment by : Muzaffar Olimjonovich Ahunov
Download or read book The Impact of Cross-Border Acquisitions on Target Banks' Performance in an Institutionally Poor Environment written by Muzaffar Olimjonovich Ahunov and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We investigate the impact of the 2005-2007 cross-border bank takeovers in Ukraine - a country with poor institutional quality - on the performance of the target banks. Because acquirers targeted mainly larger, less-capitalised banks, we control for selection bias by combining propensity score matching and a difference-in-difference methodology. We find that the cost efficiency of the acquired banks improved after takeover (because of a decreased reliance on deposits), but that neither their profitability nor their loan market shares increased. Overall, our findings tally only piecemeal with the existing multi-country studies for transition economies. This argues in favour of additional single-country research.
Book Synopsis Globalization of Financial Institutions by : Hasan Dincer
Download or read book Globalization of Financial Institutions written by Hasan Dincer and published by Springer. This book was released on 2016-08-27 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This peer-reviewed volume from the Society for the Study of Business and Finance, discusses current issues in globalization and financial system from an international political and economic perspective. Contemporary instruments and actors in the global financial system are specially analyzed and the discussion of managerial and financial issues of the global financial strategies offers novelty to readers and researchers in the field.
Book Synopsis The Oxford Handbook of Banking by : Allen N. Berger
Download or read book The Oxford Handbook of Banking written by Allen N. Berger and published by Oxford University Press. This book was released on 2010 with total page 1033 pages. Available in PDF, EPUB and Kindle. Book excerpt: This handbook provides an overview and analysis of state-of-the-art research in banking written by researchers in the field. It includes abstract theory, empirical analysis, and practitioner and policy-related material.
Book Synopsis Cross-border Banking by : Gerard Caprio
Download or read book Cross-border Banking written by Gerard Caprio and published by World Scientific. This book was released on 2006 with total page 491 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cross-border banking, while having the potential for a more efficient financial sector, also creates potential challenges for bank supervisors and regulators. This volume discusses topics that include: the landscape of cross-border bank activity, the resulting competitive implications, emerging challenges for prudential regulation, and more. Cross-border banking, while having the potential for a more efficient financial sector, also creates potential challenges for bank supervisors and regulators. It requires cooperation by regulatory authorities across jurisdictions and a clear delineation of authority and responsibility. That delineation is typically not present and regulatory authorities often have significantly different incentives to respond when cross-border-active banks encounter difficulties. Most of these issues have only begun to be seriously evaluated. This volume, one of the first attempts to address these issues, brings together experts and regulators from different countries. The wide range of topics discussed include: the current landscape of cross-border bank activity, the resulting competitive implications, emerging challenges for prudential regulation, safety net concerns, failure resolution issues, and the potential future evolution of international banking.
Book Synopsis The Determinants of Cross-border M&As by : Hye-jŏng Hyŏn
Download or read book The Determinants of Cross-border M&As written by Hye-jŏng Hyŏn and published by KIEP. This book was released on 2007 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Bank Ownership Type and Banking Relationships by : Allen N. Berger
Download or read book Bank Ownership Type and Banking Relationships written by Allen N. Berger and published by World Bank Publications. This book was released on 2006 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Bank Ownership written by Robert Cull and published by International Monetary Fund. This book was released on 2017-03-22 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents recent trends in bank ownership across countries and summarizes the evidence regarding the implications of bank ownership structure for bank performance and competition, financial stability, and access to finance. The evidence reviewed suggests that foreign-owned banks are more efficient than domestic banks in developing countries, promote competition in host banking sectors, and help stabilize credit when host countries face idiosyncratic shocks. But there are tradeoffs, since foreign-owned banks can transmit external shocks and might not always expand access to credit. The record on the impact of government bank ownership suggests few benefits, especially for developing countries.
Book Synopsis Bank Mergers & Acquisitions by : Yakov Amihud
Download or read book Bank Mergers & Acquisitions written by Yakov Amihud and published by Springer Science & Business Media. This book was released on 2013-04-17 with total page 249 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.
