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Effects Of Us Bank Mergers On Bank Risk And Value
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Book Synopsis Effects of US Bank Mergers on Bank Risk and Value by : Ingo Forbriger
Download or read book Effects of US Bank Mergers on Bank Risk and Value written by Ingo Forbriger and published by GRIN Verlag. This book was released on 2007-07 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2006 in the subject Business economics - Investment and Finance, grade: 1,3, Humboldt-University of Berlin (Institut f r Bank- und B rsenwesen), course: Hauptseminar Finanzierung, 20 entries in the bibliography, language: English, abstract: This paper observes the impacts of domestic US commercial bank M&As in the 1990s on individual institutions. It shows potential changes in a bank's risk exposure and how these can affect a merged bank's value. It provides a theoretical consideration as well as a review of empirical studies. The result is that a merger might lead to a risk benefit. In this case, there is, c.p., potential for a value increase. Empirically, risk benefits were either absent or offset by managers' higher risk taking.
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.
Book Synopsis The Effects of Cross-Border Bank Mergers on Bank Risk and Value by : Yakov Amihud
Download or read book The Effects of Cross-Border Bank Mergers on Bank Risk and Value written by Yakov Amihud and published by . This book was released on 2008 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the effects of cross-border bank mergers on the risk and (abnormal) returns of acquiring banks. We find that overall, the acquirers' risk neither increases nor decreases. In particular, on average neither their total risk nor their systematic risk falls relative to banks in their home banking market. The abnormal returns to acquirers are negative and significant, but are somewhat higher when risk increases relative to banks in the acquirer's home country.
Book Synopsis Mergers and Acquisitions in the U.S. Banking Industry by : Gabriel A. Hawawini
Download or read book Mergers and Acquisitions in the U.S. Banking Industry written by Gabriel A. Hawawini and published by North Holland. This book was released on 1990 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presented in this book is a comprehensive empirical analysis of mergers and acquisitions in the U.S. banking industry. The purpose of the study is to examine the merger phenomenon in the banking industry by answering the following questions: - What are the incentives for banks to merge? - Has the prohibition of interstate banking prevented banks from diversifying and has it increased the rate of bank failures by restricting (geographical) diversification opportunities? - Are bank mergers wealth-creating activities and how are the gains/losses from a merger distributed between the acquiring and acquired bank shareholders? - How can the changes in shareholder wealth resulting from bank mergers be explained and are there differences between interstate and intrastate mergers? - What are the implications of the study's findings for regulatory policy? Theory and practical implications are blended in this book which should appeal to both academics and practitioners in the field
Book Synopsis The Effects of Cross-border Bank Mergers on Bank Risk and Value by : Alex Gautier
Download or read book The Effects of Cross-border Bank Mergers on Bank Risk and Value written by Alex Gautier and published by . This book was released on 1991 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Effects of Cross-border Bank Mergers on Bank Risk and Value by : Yakov Amihud
Download or read book The Effects of Cross-border Bank Mergers on Bank Risk and Value written by Yakov Amihud and published by . This book was released on 2002 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Bank Mergers: Current Issues and Perspectives by : Benton E. Gup
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.
Book Synopsis The Effect of Mergers on US Bank Risk in the Short Run and in the Long Run by : Richard A. Brealey
Download or read book The Effect of Mergers on US Bank Risk in the Short Run and in the Long Run written by Richard A. Brealey and published by . This book was released on 2019 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine changes in risk following US bank mergers in the period 1981-2014. Short-run increases in acquirer risk following mergers occur only in the first few mergers undertaken by the same acquirer, and only in systematic risk. The equity volatility of acquirers does not increase. Using a new approach to measure the long-run effect we find that these results persist, consistent with banks maintaining a constant level of total equity risk in the long run. Constant acquirer risk means that all diversification benefits of the mergers are dissipated. We measure the loss of diversification associated with mergers and find it to be 40% of the risk level in 1981. Almost all of this occurred prior to 2004. In addition, there has been a large increase in correlations between the largest banks, much of which has come from sources other than mergers. The results are inconsistent with these mergers being motivated by the 'too big to fail' put. They suggest that if one wanted to reduce the risk of the banking system by demerging major banks one would have to reach back to the structure that existed before 2004. Simply reversing recent mergers would not have much effect on stock market measures of risk.
Book Synopsis Size, Risk, and Governance in European Banking by : Jens Hagendorff
Download or read book Size, Risk, and Governance in European Banking written by Jens Hagendorff and published by OUP Oxford. This book was released on 2013-10-03 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: The financial crisis that erupted in 2007 has brought the issues of the size, risk, and regulation of banks to the attention of a wide audience. It is difficult to open a broadsheet newspaper or a business magazine without being confronted with some aspect of bank behaviour, be it their risk levels, bankers' excessive rewards, the intertwining of bank and sovereign risk, or how they should be regulated to avoid problems in the future. In Europe, the recent and on-going crisis has demonstrated that the European Union (EU) was institutionally ill-prepared to manage a financial crisis, especially one involving large cross-border institutions which are systemically important to a number of countries. This book aims at integrating and synthesizing the various perspectives on the size, risk, and governance of banking as applied to the European markets, providing fresh insights and new analysis of the empirical data. The book is divided into three main sections. The first provides an overview of how the size of banking firms affects stability in the European banking sector, reviewing the quantitative empirical literature and offering new insights as to whether bank size motivates risk-taking where explicit or implicit 'too-big-to fail' policies shield bank creditors from market discipline. The next section discusses the debates relating to each of the different elements of risk in European banking, including new insights from a large dataset of European bank risk in different institutional contexts. The third section focuses on regulation, board monitoring, and opacity in European banking, employing a unique and hand collected dataset on the governance of European banks, as well as data on U.S. banks as a benchmark. The final chapter critically reviews the new insights gained from the chapters above, while offering policy implications as regards the role of size, risk and governance in European banking.
Book Synopsis Bank Size and Systemic Risk by : Mr.Luc Laeven
Download or read book Bank Size and Systemic Risk written by Mr.Luc Laeven and published by International Monetary Fund. This book was released on 2014-05-08 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: The proposed SDN documents the evolution of bank size and activities over the past 20 years. It discusses whether this evolution can be explained by economies of scale or “too big to fail” subsidies. The paper then presents evidence on the extent to which bank size and market-based activities contribute to systemic risk. The paper concludes with policy messages in the area of capital regulation and activity restrictions to reduce the systemic risk posed by large banks. The analysis of the paper complements earlier Fund work, including SDN 13/04 and the recent GFSR chapter on “too big to fail” subsidies, and its policy message is in line with this earlier work.
Book Synopsis The Bank Merger Wave: The Economic Causes and Social Consequences of Financial Consolidation by : Gary Dymski
Download or read book The Bank Merger Wave: The Economic Causes and Social Consequences of Financial Consolidation written by Gary Dymski and published by Routledge. This book was released on 2016-09-16 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: This far-reaching study shows that operating efficiencies are not what are driving today's unrelenting bank merger mania. It suggests that bank mergers and consolidation may have effects that are contrary to consumer and non-financial business interests, such as lower rates of interest, increasing fees, and tighter credit constraints. Dymski recommends several new policies to apply to the evaluation of prospective mergers.
Book Synopsis Megabank Consolidations in the United States by : Ashford Maharaj
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.
Book Synopsis Efficiency, Value Addition and Performance of US Bank Mergers by : Abu Khan
Download or read book Efficiency, Value Addition and Performance of US Bank Mergers written by Abu Khan and published by . This book was released on 2017 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is little consensus regarding the overall performance of mergers and acquisitions in the banking industry. The goal of this paper is to investigate the change in operating performance, efficiency, and value addition of US bank mergers and acquisitions after GLBA. We extend the previous research by combining all the previous methodologies used in mergers and acquisitions studies and add a new methodology, namely Expected EVA improvement. We will test whether these performance metrics yield similar results or if the performance of mergers varies depending on the measurements. We will also examine the factors that have significant impact on changes in bank performance. Our empirical results lead to the conclusion that the industry-adjusted operating performance of merged banks increases significantly after a merger. This finding is consistent with the findings of Cornett et al. (2006). We also find that the acquirer expected EVA improvement increases significantly after a merger. Revenue enhancement opportunity appears to be more profitable if there exists more opportunity for cost cutting such as geographically focused and diversified mergers. Product diversification mergers increase the industry adjusted performance more than product focused mergers. The efficiency or profitability of targets have either a positive or no effect on acquirer performance.
Book Synopsis The Effect of Mergers and Acquisitions on the Wealth, Risk, and Efficiency of Latin American Banks by : Felice Policastro-Caccavale
Download or read book The Effect of Mergers and Acquisitions on the Wealth, Risk, and Efficiency of Latin American Banks written by Felice Policastro-Caccavale and published by . This book was released on 2004 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Value Effects of Bank Mergers and Acquisitions by : Steven J. Pilloff
Download or read book The Value Effects of Bank Mergers and Acquisitions written by Steven J. Pilloff and published by . This book was released on 1997* with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Bank Mergers written by Jayshree Bose and published by . This book was released on 2006 with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book attempts to exercise a rare restraint in two very crucial and controversial areas of global bank mergers by blindly extolling the virtues of mega bank mergers and the ceaseless flow of economies of scale it supposedly brings; and to resist the t
Book Synopsis The Effects of Bank Mergers and Acquisitions on Small Business Lending by : Allen N. Berger
Download or read book The Effects of Bank Mergers and Acquisitions on Small Business Lending written by Allen N. Berger and published by . This book was released on 1997 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:
