importantcatalyst for bank consolidation in Europe. In order to assessthe public policy issues surrounding bank mergers, this … paperanalyzes the efficiency effects of 52 horizontal bank mergersover the period 1994-1998, i.e. the period immediately …, while therelative degree of profit efficiency improves only marginally.We do not find any evidence that merging banks are …

association started with a voluntary benchmarking aimed to increase the efficiency and effectiveness of the sector. Secondly … efficiency of these two evolutions. In particular, we adapt Free Disposal Hull (FDH) to estimate robust and conditional non …-oriented efficiency estimates. Parametric COLS (Fourier) tests show the robustness of the model with respect to the specification and its …