摘要
We investigate whether the gains are greater for banks that conduct mergers and acquisitions (M&As) during banking crises than during non-crisis periods. We contribute to the literature by examining 1984 M&As using global banking sample from 106 countries (areas) during 1994 ~ 2009. We find the synergistic gains of acquiring banks during banking crises are larger than those during non-crisis periods. We further find that such gains are greater when acquiring weak targets, for acquirers in developed countries, and for acquirers in domestic M&As. This study confirms that a banking crisis is an appropriate time for banks to conduct M&As.
原文 | English |
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頁(從 - 到) | 315–347 |
頁數 | 33 |
期刊 | Journal of Financial Services Research |
卷 | 57 |
發行號 | 3 |
DOIs | |
出版狀態 | Published - 6月 2020 |