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What Do Premiums Paid for Bank M&As Reflect? The Case of the European Union

Hagendorff, Jens - 2014

We analyze the takeover premiums paid for a sample of European bank mergers between 1997 and 2007. We find that … supervision as well as deposit insurance regimes in Europe have measurable effects on takeover pricing. Stricter bank regulatory … regimes and stronger deposit insurance schemes lower the takeover premiums paid by acquiring banks. This result, presumably in …

Persistent link: https://www.econbiz.de/10013069987

Accounting for distress in bank mergers

Koetter, Michael; Bos, Jaap W. B.; Heid, Frank; Kool, … - 2005

The inability of most bank merger studies to control for hidden bailouts may lead to biased results. In this study, we employ a unique data set of approximately 1,000 mergers to analyze the determinants of bank mergers. We use data on the regulatory intervention history to distinguish between...

Persistent link: https://www.econbiz.de/10010295902

Evaluating the German bank merger wave

Koetter, Michael - 2005

German banks experienced a merger wave throughout the 1990s. However, the success of bank mergers remains a continuous matter of debate. In this paper we suggest a taxonomy as how to evaluate post-merger performance on the basis of cost efficiency (CE). We categorise mergers a success that...

Persistent link: https://www.econbiz.de/10010295905

Inefficient or just different? Effects of heterogeneity on bank efficiency scores

Bos, Jaap W. B.; Heid, Frank; Koetter, Michael; Kolari, … - 2005

In this paper, we show the importance of accounting for heterogeneity among sample firms in stochastic frontier analysis. For a fairly homogenous sample of German savings and cooperative banks, we analyze how alternative theoretical assumptions regarding the nature of heterogeneity can be...

Persistent link: https://www.econbiz.de/10010295908

The success of bank mergers revisited: an assessment based on a matching strategy

Heid, Frank; Behr, Andreas - 2008

The question of whether or not mergers and acquisitions have helped to enhance banks' efficiency and profitability has not yet been conclusively resolved in the literature. We argue that this is partly due to the severe methodological problems involved. In this study, we analyze the effect of...

Persistent link: https://www.econbiz.de/10010295943

The Safety and Soundness Effects of Bank M&As in the EU : Does Prudential Regulation Have Any Impact?

Hagendorff, Jens - 2012

This paper studies the impact of European bank mergers and acquisitions on changes in key safety and soundness measures of both acquirers and targets. We find that capitalization, profitability and liquidity show signs of statistically and economically significant mean reversion for acquirers....

Persistent link: https://www.econbiz.de/10013099526

Drivers of Productivity in the Spanish Banking Sector : Recent Evidence

Castro, Christian E. - 2019

We analyse the drivers of total factor productivity of Spanish banks from early 2000, including the last financial crisis and the post-crisis period. This allows us to study changes in productivity following a major restructuring process in the banking sector such as the one experienced in...

Persistent link: https://www.econbiz.de/10012870666

The Impact of Alternative Forms of Bank Consolidation on Credit Supply and Financial Stability

Mayordomo, Sergio - 2020

Between 2009 and 2011, the Spanish banking system underwent a restructuring process based on consolidation of savings banks. The program's design allows us to study how alternative forms of consolidation affect credit supply and financial stability. Compared to bank business groups, we find that...

Persistent link: https://www.econbiz.de/10012828658