Grullon, Gustavo; Michaely, Roni; Swary, Itzhak - In: Journal of Business Finance & Accounting 24 (1997-01) 1, pp. 97-124
We examine how banks' capital requirements affect the way bank mergers are financed, as well as the stock-market reaction to the merger announcement. We find that the capital position of the acquirer is one of the two factors most strongly influencing the choice of financing method; the other is...