This paper analyzes the factors that influence entry and geographic diversification decisions, a topic of special strategic interest in a context of growing globalization. The empirical model we propose is tested in a framework- the Spanish savings-bank market-where recent deregulation has...

Mergers and acquisitions (M&A) have been frequently justified in terms of value creation or efficiency improvements. Nevertheless, the evidence is not consistent with the existence of benefits in terms of profitability or market value of the firms involved. A distinguishing feature of extant...