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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

Universal banks and corporate control: evidence from the global syndicated loan market

Ferreira, Miguel A.; Matos, Pedro - 2009

Banks play a role in the corporate governance of firms as well as acting as debt financiers around the world. Universal banks can have control over borrowing firms by representation on the board of directors or by holding shares through direct stakes or institutional holdings. We investigate the...

Persistent link: https://www.econbiz.de/10011605112

The stock market reaction to the 2005 non-tradable share reform in China

Beltratti, Andrea; Bortolotti, Bernardo; Caccavaio, Marianna - 2011

During 2005-2006, the Chinese government implemented a reform aimed at eliminating the so-called non-tradable shares (NTS), shares typically held by the State or by politically connected institutional investors that were issued at the early stage of financial market development. Our analysis,...

Persistent link: https://www.econbiz.de/10011605385

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

Determinants and consequences of the unification of dual-class shares

Pajuste, Anete - 2005

This paper explores the reasons why an increasing number of firms in continental Europe are unifying their shares into a single class, and analyzes the consequences of this restructuring. Interestingly, recent changes in corporate governance environment have created a situation when the reasons...

Persistent link: https://www.econbiz.de/10011604511

The Performance Impact of Firm Ownership Transformation in China

Beirne, John - 2013

Does firm ownership change affect performance? On the basis of a mean-value analysis and a fixed effects panel analysis of over 1100 Chinese companies during the period of ownership reform (1997-2003), this paper examines the performance impact of firm ownership transformation in China. The data...

Persistent link: https://www.econbiz.de/10013074635

The Costs and Beliefs Implied by Direct Stock Ownership

Barth, Daniel - 2014

This paper develops a structural model of the costs and beliefs required to rationalize household direct stock ownership. In the model, households believe they can learn information about individual stock returns through costly research. The model provides a novel explanation for many empirical...

Persistent link: https://www.econbiz.de/10013057671

Which Households Use Banks? Evidence From the Transition Economies

Beck, Thorsten - 2013

This paper uses survey data for 29,000 households from 29 transition economies to explore how the use of banking services is related to household characteristics, bank ownership structure and the development of the financial infrastructure. At the household level we find that the holding of a...

Persistent link: https://www.econbiz.de/10013093868

Cross-Border Mergers and acquisitions: Financial and institutional forces

Coeurdacier, Nicolas; De Santis, Roberto A.; Aviat, Antonin - 2009

Cross-border mergers and acquisitions (M&As) sharply increased over the last two decades. It is often pointed out that cross-border capital reallocation is partly the result of financial liberalization policies, government policies and regional agreements. In this paper, we identify some of the...

Persistent link: https://www.econbiz.de/10011605064

Banking consolidation and small business lending

Takáts, Elod - 2004

The paper investigates small business lending as an information problem. It models the effects of information asymmetries within the bank combined with fixed wages. Two kinds of inefficiencies arise in equilibrium: the credit officer either sometimes shirks or he is occasionally fired. In both...

Persistent link: https://www.econbiz.de/10011604453

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