search query: @author Akhigbe, A. / total: 13
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| Author: | Akhigbe, A. Madura, J. |
| Title: | Intra-industry signals embedded in bank acquisition announcements |
| Journal: | Journal of Banking and Finance
1999 : NOV, VOL. 23:11, p. 1637-1654 |
| Index terms: | Banking Mergers Competition Investments Policy USA |
| Language: | eng |
| Abstract: | Bank acquisitions have increased in recent years. This paper aims: 1. to determine whether the announcement of a bank acquisition transmits intra-industry signals, 2. to explain why the intra-industry effects vary across acquisition announcements, and 3. to explain why the valuation effects of individual rival banks vary. It is found that bank acquisition announcements generate significant positive intra-industry effects, on average. Overall, investors discriminate based on event-specific and rival bank-specific characteristics when interpreting the signal transmitted as a result of bank acquisitions. |
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