This dissertation examines the wealth effects of bank mergers onbidder, target, and combined firm shareholders for a sample of785 mergers during the period 1980-2000. The dissertationemploys two unique bank event study methodologies to calculateabnormal returns for bidder, target and combined...

This dissertation examines the wealth effects of bank mergers on bidder, target, and combined firm shareholders for a sample of 785 mergers during the period 1980-2000. The dissertation employs two unique bank event study methodologies to calculate abnormal returns for bidder, target and...

The banking industry has undergone significant consolidation since branching laws were relaxed in the 1990s. But federal regulators still analyze every proposed merger or acquisition to make sure it won't violate antitrust statutes.

We study the dynamics of market entry following mergers and acquisitions (M&As) and the behavior of recent entrants in supplying output that might be withdrawn by the consolidating firms. The data, drawn from the banking industry, suggest that M&As are associated with subsequent increases in the...