We study the development of bank lending in the U.S. after four large jumps in uncertainty using an event study … ratio keep up lending to a greater extent, but the effect is only significant for banks which are not part of a multi-bank … holding company. This heterogeneity across banks suggests that declines in bank lending following increases in uncertainty are …

the period 1990-2002 to assess the effectiveness of European merger control. The basic idea is to relate announcement and … decision abnormal returns. Under a set of four maintained assumptions, merger control might be interpreted to be effective if … rents accruing due to the increased market power observed around the merger announcement are reversed by the antitrust …

industries in the sector-specific takeover market, this working paper proves the common knowledge for the example of … corporate characteristics are of significant importance. With respect to prevailing takeover strategies, the survey reveals a …-affected takeover strategies that are elaborated on more closely within the working paper. Examining an acquisition focus in terms of …

We analyze a Bayesian merger game under two-sided asymmetric information about firm types. We show that the standard … prediction of the lemons market model-if any, only low-type firms are traded-is likely to be misleading: Merger returns, i.e. the … difference between pre- and post-merger profits, are not necessarily higher for low-type firms. This has two implications. First …

The inability of most bank merger studies to control for hidden bailouts may lead to biased results. In this study, we … employ a unique data set of approximately 1,000 mergers to analyze the determinants of bank mergers. We use data on the …

German banks experienced a merger wave throughout the 1990s. However, the success of bank mergers remains a continuous … matter of debate. In this paper we suggest a taxonomy as how to evaluate post-merger performance on the basis of cost … CE levels above the average of non-merging banks. Second, banks must exhibit CE changes between merger and evaluation …

problems involved. In this study, we analyze the effect of German bank mergers in the period 1995-2000 on banks' profitability …

by changes following bank mergers involving Federal Reserve customer banks. This paper evaluates the effect of bank … two or more Reserve Bank customers have resulted in volume losses, especially during the first quarter following the … merger. On average, the estimated cumulative loss of volume during the first five post-merger quarters was 2.6 million checks …