exact amount of cost efficiency/inefficiency that will result from the merger. Nevertheless, the key element of the model is …

Some path-breaking work on mergers takes efficiency gains for granted, or assumes that firms have perfect knowledge … when taking merger decisions. In practice, firms and competition authorities cannot know exact future efficiency gains …

the inter-temporal relationships among bank efficiency, capital and bank risk-taking in the EU-26 commercial banking …, our paper provides evidence that higher performance (enhanced efficiency) has been not related to higher managerial skills …