Mergers and Acquisitions Between Mutual Banks in Italy :An analysis of the effects on performance and productive efficiency
The paper is aimed at testing the hypothesis that the M&A wave over the past ten years has increased the level of efficiency of co-operative credit banks (CCBs), both in terms of overall performance and productive efficiency. The logical development is hinged on two steps: 1) an explorative analysis which is based on the observation of balance sheet ratios by quantiles, 2) a DEA application for estimating productive efficiency scores. The analysis refers to 94 CCBs which have been involved in M&As over the period 1995-1998 and is carried out on both merged and non-merged banks, either before concentration or in the subsequent years.
Authors: | Salvo, Roberto Di ; Mazzilis, Maria Carmela ; Guidi, Andrea |
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Other Persons: | Balling, Morten (contributor) |
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