search query: @indexterm Event Studies / total: 51
reference: 48 / 51
| Author: | Carow, K. A. |
| Title: | Citicorp-Travelers Group merger: Challenging barriers between banking and insurance |
| Journal: | Journal of Banking and Finance
2001 : AUG, VOL. 25:8, p. 1553-1571 |
| Index terms: | BANKS INSURANCE DEREGULATION LEGISLATION EVENT STUDIES |
| Language: | eng |
| Abstract: | The Citicorp-Travelers Group merger increased the prospects for new legislation to remove the barriers between banking and insurance, resulting in a positive wealth effect for institutions most likely to gain from deregulation. Analysis of abnormal returns surrounding the merger show that life insurance companies and large banks (excluding Citicorp and Travelers Group) have significant stock price increases, while the returns of small banks, health insurers, and property/casualty insurers are insignificantly different from 0. This analysis provides evidence that investors expect large banks and insurance companies to receive significant benefits from recent congressional legislation removing barriers to bancassurance. |
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