banks have a substantial and persistent negative impact on merging banks' revenues. We refer to merger related negative … customers and the temporary distraction of management from day-to-day operations by effecting the merger. For our analyses we … involved in 212 mergers between 1994 and 2006. We find that the negative impact of a merger on net operating revenues amounts …

businesses compared to prior to the merger or compared to the contemporaneous lending by non-merging banks. We investigate the … merger related effects on small business lending in Germany from a bank-level perspective. Furthermore, we estimate small …