Purpose – The purpose of the paper is twofold: to determine firm characteristics that explain mergers in the banking industry and to predict the likelihood of a merger. Design/methodology/approach – A logit model is used to estimate coefficients. The paper also tests the effect of the...

Purpose – Bank regulators across the world have recently lifted restrictions on where banks can operate and what type of activities they can perform. Following the deregulation of the sector, bank mergers and acquisitions have grown substantially. The purpose of this paper is to outline bank...

Purpose – The purpose of this paper is to explore certain remaining differences in the underlying legal considerations and the differing customs and practices of US and UK mergers and acquisitions in relation to certain issues. Design/methodology/approach – A review was undertaken of the...

Purpose – The aim of this research is to find out which mergers and acquisitions (M&A) market is better able to absorb all the shocks from legislations in securities and banking in Europe and the USA, 11 September 2001 terrorist attacks in the USA, and other global events. The most exogenous...

Purpose – The purpose of this paper is to examine the relation between managerial entrenchment and dividend policy for a large number of US industrial firms and examine the relative importance of three competing explanations behind the empirical association between managerial entrenchment and...

Purpose – The purpose of this paper is to focus on international acquisitions that took place in the insurance sector by US-based firms in the years 1997-2003 and their impact on shareholder wealth. Design/methodology/approach – The study sample is based on 52 international acquisitions in...

Purpose – The purpose of this paper is to model the announcement returns of merging firms based on managerial overconfidence about merger synergy. Design/methodology/approach – The paper applies continuous-time real options techniques and game theoretic concepts. Managerial overconfidence...

Purpose – This paper aims to examine mutual fund investors' response to mergers of Australian mutual fund companies. Design/methodology/approach – Two matching-control techniques are employed to analyse the impact of mergers on excess money in and out of open and closed funds involved in the...

Purpose – To re-examine empirically internalisation and transaction cost theories of firm FDI. Design/methodology/approach – Empirical analysis based on cross sectional multivariate regressions and the Fama-French three factor event study procedure. In addition to the key explanatory...

Purpose – The purpose of this research is to investigate post-acquisition differences in share and operating performance, and in risk characteristics, for acquirers who pay cash versus those who employ stock, as well as for acquirers who merge with targets as opposed to those who directly...