Krishnan, C. N. V.; Yakimenko, Vasiliy - In: Journal of risk and financial management : JRFM 15 (2022) 3, pp. 1-21
announcement of the M&A is significantly associated with negative announcement period abnormal returns. However, for these banks …, the longer-run abnormal returns and performance are positive. The opposite is true for non-bank M&A announcements: higher … shows that the market may misreact, on average, to both bank and non-bank M&A announcements based on the acquirer's leverage …