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Organisational Structure as a Driver of Mergers and Acquisitions in the European Banking Sector

Lebastard, Laura - 2022

This paper studies the bilateral drivers of mergers and acquisitions (M&As) between European banks. Two findings document that banks use M&A as a device to leverage their expertise rather than to diversify. (i) Following the literature on matrimonial matching by using a binary logit model, the...

Persistent link: https://www.econbiz.de/10013405075

The Economic Impact of Merger Control : What is Special about Banking?

Carletti, Elena; Hartmann, Philipp; Ongena, Steven - 2021

-oriented regime for merger control increases banks' stock prices, whereas it decreases those of non-financial firms. Moreover, bank … merger targets become more profitable and larger. A major determinant of the positive bank returns, after controlling inter … institutional setup for supervisory bank merger reviews. Thus strengthening competition policy in banking may generate positive …

Persistent link: https://www.econbiz.de/10013316912

Concentration, Market Power and Dynamism in the Euro Area

Cavalleri, Maria Chiara - 2019

We examine the degree of market power in the big four countries of the euro area using macro and firm micro data. We focus on three main indicators of market power in and across countries: namely, the concentration ratios, the markup and the degree of economic dynamism. For the macro database we...

Persistent link: https://www.econbiz.de/10012889877

Concentration, Market Power and Dynamism in the Euro Area

Cavalleri, Maria Chiara; Eliet, Alice; McAdam, Peter; … - 2022

We examine the degree of market power in the big four countries of the euro area using macro and firm-micro data. We focus on three main indicators of market power in and across countries: namely, the concentration ratios, the markup and the degree of economic dynamism. For the macro database we...

Persistent link: https://www.econbiz.de/10013322230

Sectorial Border Effects in the European Single Market : An Explanation through Industrial Concentration

Cafiso, Gianluca - 2009

The purpose of this paper is to explain the relation between the Border Effect and industrial concentration. This is achieved by founding this relation on the Home Market Effect and testing the robustness of this foundation through an application to the European Single Market. A sectorial...

Persistent link: https://www.econbiz.de/10013154950

Macroeconomic Adjustment to Monetary Union

Fagan, Gabriel - 2008

The move to monetary union in Europe led to convergence of interest rates among the participating countries. This was associated with notable cross-country differences in the behaviour of key macroeconomic aggregates. Compared to the low interest rate countries, former high interest rate...

Persistent link: https://www.econbiz.de/10012770251

Adjusting to the Euro

Fagan, Gabriel - 2007

In this paper we argue that, for a group of converging economies of the European Union, participation in the euro area has been associated with easier access to financing by domestic economic agents. Easier access to financing was a significant impulse leading to a sharp increase in households'...

Persistent link: https://www.econbiz.de/10012778006

The Effects of Emu on Structural Reforms in Labour and Product Markets

Duval, Romain - 2006

Will EMU accelerate or retard structural reform in labour and product markets? The theoretical literature is ambiguous. New descriptive evidence provided in this paper suggests that euro-area countries have made relatively good progress in structural reform. However, it is much less clear...

Persistent link: https://www.econbiz.de/10012780843

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Shocks and Labour Cost Adjustment : Evidence from a Survey of European Firms

Mathä, Thomas - 2019

We use firm-level survey data from 25 EU countries to analyse how firms adjust their labour costs (employment, wages and hours) in response to shocks. We develop a theoretical model to understand how firms choose between different ways to adjust their labour costs. The basic intuition is that...

Persistent link: https://www.econbiz.de/10012871877

External and Macroeconomic Adjustment in the Larger Euro Area Countries

Angelini, Elena - 2014

A balanced current account in the euro area has disguised sizeable net lending imbalances at the country level, exposing the common currency area to severe pressures during the financial crisis. The key contribution of this paper is to evaluate the adjustment process through the lenses of the...

Persistent link: https://www.econbiz.de/10013058554