search query: @author Tourani Rad, A. / total: 2
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| Author: | Tourani Rad, A. Beek, L. Van |
| Title: | Market valuation of European Bank Mergers |
| Journal: | European Management Journal
1999 : VOL. 17:5, p. 532-540 |
| Index terms: | MERGERS BANKING EUROPE SHAREHOLDERS |
| Language: | eng |
| Abstract: | This paper examines cross-border mergers in the European banking sector in terms of their effect on their sharehol- ders' wealth. It is found that target bank shareholders ex- perience significant positive abnormal returns while abnor- mal returns to bidding bank shareholders were not significi- cant. Furthermore, the results suggest that returns to bid- ding bank shareholders are more positive when the bidder is larger and more efficient. The cross-border mergers did not outperform domestic ones. Finally, there was no significant difference between mergers before the implementation of the EU Second Banking directive and those that took place after the implementation. |
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