This paper is the first to examine the determinants of acquisitions for the U.S. thrift industry during a period of market liberalization and widespread takeover activity, 1994 to 2000.(...)

Significant change in regulations affecting bank/thrift activities during the 1990's provide us with an opportunity to examine for shifts in acquisition characteristics as deregulation leads to changes in behavior. Consistent with a regime change hypothesis, we find a structural change in...

This paper uses a two-step methodology to examine the relationship between managerial cost inefficiency and the takeover of U.S. thrifts during a period of market liberalization and widespread takeover activity, 1994 to 2000. In the first stage using stochastic cost frontiers, controllable...