importantcatalyst for bank consolidation in Europe. In order to assessthe public policy issues surrounding bank mergers, this … paperanalyzes the efficiency effects of 52 horizontal bank mergersover the period 1994-1998, i.e. the period immediately … banking.The dynamic merger analysis indicates that the cost efficiencyof merging banks is positively affected by the merger …

explain about two-thirds of the variation of bank capitalization over the business cycle. We estimate that provisioning …