Panetta, Fabio; Schivardi, Fabiano; Shum, Matthew - In: Proceedings (2004) May, pp. 369-411
We examine the informational effects of M&As by investigating whether bank mergers improve banks’ abilities to screen their borrowers. By exploiting a dataset in which we observe a measure of a borrower’s default risk which the lenders observe only imperfectly, we find evidence of these...