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Do mergers improve information? Evidence from the loan market
Panetta, Fabio; Schivardi, Fabiano; Shum, Matthew - Banca d'Italia - 2004
We examine the informational effects of M&As by investigating whether bank mergers improve banks� ability to screen … imperfectly, we find evidence of these informational improvements. Mergers lead to a closer correspondence between interest rates …
Persistent link: https://www.econbiz.de/10005770757
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Consolidation and efficiency in the financial sector: a review of the international evidence
Amel, Dean; Barnes, Colleen; Panetta, Fabio; Salleo, Carmelo - Banca d'Italia - 2002
mergers yield economies of scope or gains in managerial efficiency. …
Persistent link: https://www.econbiz.de/10005770770
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Why do Banks Merge?.
Focarelli, D.; Panetta, F.; Salleo, C. - Banca d'Italia - 1999
of mergers and acquisitions. We analyze the Italian market, which is similar to other main European countries. …
Persistent link: https://www.econbiz.de/10005486704
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The Effects of Bank Consolidation and Market Entry on Small Business Lending
Patti, Emilia Bonaccorsi di; Gobbi, Giorgio - Banca d'Italia - 2001
loans by size of borrower with a detailed geographical partition. We find that mergers are followed by a temporary reduction …
Persistent link: https://www.econbiz.de/10005111563
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Are Mergers Beneficial to Consumers? Evidence from the Market for Bank Deposits
Focarelli, Dario; Panetta, Fabio - Banca d'Italia - 2002
The general conclusion of the empirical literature is that in-market consolidation generates adverse price changes, harming consumers. Previous studies, however, look only at the short-run pricing impact of consolidation, ignoring all effects that take longer to materialize. Using a database...
Persistent link: https://www.econbiz.de/10005113523
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Bank Competition and Regulatory Reform: The Case of the Italian Banking Industry.
Angelini, P.; Cetorelli, N. - Banca d'Italia - 2000
The paper analyzes the evolution of competitive conditions in the Italian banking industry using firm-level balance sheet data for the period 1983-1997. Regulatory reform, large-scale consolidation, and competitive pressure from other European countries have changed substantially the banking...
Persistent link: https://www.econbiz.de/10005640908
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European acquisitions in the United States: re-examining Olivetti-Underwood fifty years later
Amidei, Federico Barbiellini; Goldstein, Andrea; … - Banca d'Italia - 2010
States. We provide a historical narrative focused on three main issues: 1) head office control and subsidiary autonomy; 2 …
Persistent link: https://www.econbiz.de/10008587615
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Proprieta', controllo e trasferimenti nelle imprese italiane. Cosa e' cambiato nel decennio 1993-2003?
Giacomelli, Silvia; Trento, Sandro - Banca d'Italia - 2005
Italian firms, on ownership structures, control and control transfers of non-listed firms, building upon similar surveys … carried on in 1993. The aim of the research is to assess the degree and the directions of changes in control patterns of … family control of firms is prevalent. Separation between ownership and control is limited. Financial institutions (including …
Persistent link: https://www.econbiz.de/10005196852
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Stock market efficiency in China: evidence from the split-share reform
Beltratti, Andrea; Bortolotti, Bernardo; Caccavaio, Marianna - Banca d'Italia - 2014
We perform an event study to investigate the efficiency of the Chinese stock market. We study the reaction of stock returns and trading volumes to the 2005-2006 structural reform which allowed the transformation of non-tradable shares (NTS) into tradable shares (TS) through payment of a...
Persistent link: https://www.econbiz.de/10011103311