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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/10003831845

Competition and stability : what's special about banking?

Carletti, Elena; Hartmann, Philipp - 2002

Persistent link: https://www.econbiz.de/10001670916

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/10013265942

The economic impact of merger control : what is special about banking?

Carletti, Elena (contributor); Hartmann, Philipp (contributor) - 2007

-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/10003507184

Financial exposure and bank mergers : micro and macro evidence from the EU

Lebastard, Laura - 2022

This paper studies for the first time the links between interbank liability and equity markets (financial exposure), and mergers and acquisitions (M&As) in the European banking sector, both at the micro and macro level. Using a binary logit model, the paper first examines - at the micro level -...

Persistent link: https://www.econbiz.de/10013367631

Pricing payment cards

Bedre-Defolie, Özlem; Calvano, Emilio - 2009

In a payment card association such as Visa, each time a consumer pays by card, the bank of the merchant (acquirer) pays an interchange fee (IF) to the bank of the cardholder (issuer) to carry out the transaction. This paper studies the determinants of socially and privately optimal IFs in a card...

Persistent link: https://www.econbiz.de/10003969459

Growth strategies and value creation : what works best for stock exchanges?

Hasan, Iftekhar; Schmiedel, Heiko; Song, Liang - 2010

protection, accounting standards and capital market development in the partner exchange's country, the higher the merger and …

Persistent link: https://www.econbiz.de/10003973480

Government deficits, wealth effects and the price level in an optimizing model

Annicchiarico, Barbara - 2003

This paper investigates the in inflationary effects of fscal policy in an optimizing general equilibrium monetary model with capital accumulation, exible prices and wealth effects. The model is calibrated to Euro Area quarterly data. Simulation results show that government defcits, high debt...

Persistent link: https://www.econbiz.de/10009635879

Country and sector-specific spillover effects in the euro area, the United States and Japan

Kaltenhaeuser, Bernd - 2003

Within a two-step GARCH framework we explore the linkages between equity returns of ten sectors in the euro area, the United States and Japan, respectively. Our estimation framework allows a distinction to be made between spillover effects originating from one of the three currency areas and...

Persistent link: https://www.econbiz.de/10009635881

Inflation persistence and robust monetary policy design

Coenen, Günter - 2003

This paper investigates the performance of optimised interest rate rules when there is uncertainty about a key determinant of the monetary transmission mechanism, namely the degree of persistence characterising the inﬂation process. The paper focuses on the euro area and utilises two variants of...

Persistent link: https://www.econbiz.de/10009635885

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