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The literature has shown that in the short- and medium-term bank mergers and acquisitions (M&As) may generate a … temporary reduction in firm credit. Using bank-firm matched data, this paper investigates the impact of M&As involving Italian … existing evidence. The drop is smaller for infra-group mergers, when the target is healthy or is the firm’s main bank, while is …
Persistent link: https://www.econbiz.de/10014253978
. Using supervisory trade-level data, we show that banks with closer ties to a target advisor in a takeover buy more stocks of … ffnd such effects for bank connections to acquirer advisors or for trades in acquirer stocks. Target advisors benefit from … leaking information about takeover bids to connected banks, as it drives up the premium paid without compromising the …
Persistent link: https://www.econbiz.de/10014333576
. Using supervisory trade-level data, we show that banks with closer ties to a target advisor in a takeover buy more stocks of … find such effects for bank connections to acquirer advisors or for trades in acquirer stocks. Target advisors benefit from … leaking information about takeover bids to connected banks, as it drives up the final offer price without compromising the …
Persistent link: https://www.econbiz.de/10013336388
We empirically examine the impact of bank consolidation on bank acquisition of soft information about borrowers. Using … complexity upon a merger, rather than a post-merger cost-cut, is likely to cause a negative and significant impact on soft …
Persistent link: https://www.econbiz.de/10012954778
results indicate that, relative to counties where the acquirer had operations before the merger, local SBL declined … significantly more in counties where only the target had operations before the merger. This result holds even after controlling for … funding to local small businesses. The absence of local community banks that became a target of a merger or acquisition by …
Persistent link: https://www.econbiz.de/10011891865
that resembles a public offering. Also known as “blank-check” or “reverse merger” companies, this process avoids many of …
Persistent link: https://www.econbiz.de/10013215319
merger related effects on small business lending in Germany from a bank-level perspective. Furthermore, we estimate small … businesses compared to prior to the merger or compared to the contemporaneous lending by non-merging banks. We investigate the … for panel data as proposed by Arellano and Bond (1991). -- Bank mergers ; small business lending …
Persistent link: https://www.econbiz.de/10003784021
We investigate loan price in mergers and acquisitions (M&As), using hand-matched loan information for a sample of 512 U.S. M&A transactions. We find the relative size of a deal constitutes a prominent determinant of the loan price measured by the all-in spread drawn (AISD). This result is robust...
Persistent link: https://www.econbiz.de/10014113748
When investment banks advise on merger and acquisition (M&A) transactions, are they fiduciaries of their clients … bank behavior. This Article counters that view, arguing that investment banks are rightly characterized as fiduciaries of …
Persistent link: https://www.econbiz.de/10013003502
as a basis, the merger and consolidation of the Spanish Banco Santander in Mexico, what was your strategy for fusion of … have become the fourth strongest bank in Mexico and one of the strongest banks in the world, as part of the explanation is …
Persistent link: https://www.econbiz.de/10012988398