Download or read book Bank Mergers Acquisitions written by Yakov Amihud and published by Springer Science & Business Media. This book was released on 2013-04-17 with total page 249 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the financial services industry becomes increasingly international, the more narrowly defined and historically protected national financial markets become less significant. Consequently, financial institutions must achieve a critical size in order to compete. Bank Mergers & Acquisitions analyses the major issues associated with the large wave of bank mergers and acquisitions in the 1990's. While the effects of these changes have been most pronounced in the commercial banking industry, they also have a profound impact on other financial institutions: insurance firms, investment banks, and institutional investors. Bank Mergers & Acquisitions is divided into three major sections: A general and theoretical background to the topic of bank mergers and acquisitions; the effect of bank mergers on efficiency and shareholders' wealth; and regulatory and legal issues associated with mergers of financial institutions. It brings together contributions from leading scholars and high-level practitioners in economics, finance and law.
Download or read book The Impact of Mergers Inefficiency written by and published by . This book was released on 2007 with total page 83 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this project is to examine whether the wave of bank mergers in Europe (1990s to the present) has led to improvements in bank profitability, bank efficiency, and benefits to consumers. We identify trends and average in financial data for various banks pre and post merger, and situate our results within the context of developments within the various countries. There are many reasons for bank mergers: economy of scales, resources, or acquisition of talented management. Increasing shareholders profit may provide the primary incentive for mergers, although greater market power is another motivation. The result of this project, however, is a comprehensive listing of improvements in the profitability of European banks from mergers, efficiencies, and, finally, benefits to consumers. The project's framework was trends per unit output.
Download or read book Mergers and Economic Efficiency Proceedings of a workshop and supplementary papers written by and published by . This book was released on 1980 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Quest for Efficiency written by Sumit K. Majumdar and published by . This book was released on 2009 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: We evaluate the impact of the various mergers of the local exchange companies that took place between 1988 and 2001 on several measures of performance of the firms that have undergone the mergers. Our analysis reveals that relative cash flows decrease after mergers, the pattern of accompanying sales growth is ambiguous and driven by increased market presence while the impact of mergers on the measures of efficiency and synergy are negative. If the efficiency motive is primary in influencing merger approval, then the past mergers approved have led to inefficiencies and welfare losses for the American consumer and the mergers of communication common carriers have not been in the public interest. On the other hand, given the inefficiency outcomes views that the quiet life, hubris and a quest for possible market power have motivated the mergers cannot be discarded.
Download or read book Mergers Sell Offs and Economic Efficiency written by David J. Ravenscraft and published by Brookings Institution Press. This book was released on 2011-10-01 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book covers the consolidation and merger of corporations and corporate divestiture in the United States.
Download or read book Mergers and Efficiency written by Susanne Trimbath and published by Springer Science & Business Media. This book was released on 2002-07-31 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mergers And Efficiency: Changes Across Time focuses on one aspect of the corporate finance revolution that restructured Corporate America and led to the longest expansion in U.S. history - changes in rates of merger efficiency. Demystifying this most controversial and dynamic period of U.S. economic history is key to understanding the business, financial and economic innovations that defined the last two decades of the 20th century. In addition, it is important to create a careful empirical understanding of the conditions under which merger activity increased or decreased firm efficiency, industrial productivity, and overall improvements in aggregate output and economic performance.
Download or read book Determinants of Cost Efficiencies in Bank Mergers written by Robert DeYoung and published by . This book was released on 1993 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Determinants and Effects of Mergers written by Dennis C. Mueller and published by Cambridge, Mass. : Oelgeschlager, Gunn & Hain ; Königstein/Ts. : Verlag A. Hain. This book was released on 1980 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Incorporating Dynamic Efficiency Concerns in Merger Analysis written by Richard J. Gilbert and published by . This book was released on 1994 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Economic Profitability Impact of Mergers Acquisitions among Banks in Lebanon written by Rami Saleh and published by GRIN Verlag. This book was released on 2013-05-08 with total page 97 pages. Available in PDF, EPUB and Kindle. Book excerpt: Doctoral Thesis / Dissertation from the year 2009 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: A, , language: English, abstract: A study of the impact of mergers and acquisitions on the economic profitability among Banks in Lebanon
Download or read book Evidence for the Effects of Mergers on Market Power and Efficiency written by Bruce A. Blonigen and published by . This book was released on 2016 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: Study of the impact of mergers and acquisitions (M&As) on productivity and market power has been complicated by the difficulty of separating these two effects. We use newly-developed techniques to separately estimate productivity and markups across a wide range of industries using detailed plant-level data. Employing a difference-in-differences framework, we find that M&As are associated with increases in average markups, but find little evidence for effects on plant-level productivity. We also examine whether M&As increase efficiency through reallocation of production to more efficient plants or through reductions in administrative operations, but again find little evidence for these channels, on average. The results are robust to a range of approaches to address the endogeneity of firms' merger decisions
Download or read book The Economics of the Antitrust Process written by M.B. Coate and published by Springer Science & Business Media. This book was released on 1996-05-31 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book focuses on the antitrust process and how that process affects the efficiency of antitrust law enforcement. The contributors share a wide range of experiences in the antitrust process, including academia, the legal environment, and both private and public sectors. The book deals first with merger activities, followed by non-merger enforcement initiatives and concludes with an examination of the future role of antitrust.
Download or read book The Impact of Economic Efficiency on Employment written by Anca D. Chirita and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper seeks to challenge the present rhetoric used by competition policy makers and enforcers when advancing economic efficiency as a goal of competition policy. The fixation on the promotion of economic efficiency and intense or fierce competition comes at the expense of other sensible social values, such as job creation. This trend of modern competition policy is based on a reductionist assumption about how markets work in practice. A dogmatic application of competition policy serving economic calculus, rather than the social order, has silently ignored the negative impact of competition on wages and employment. Over the past many years of successful enforcement of competition laws, no attempts have been made to reverse the negative social impact that has been inflicted by fierce and aggressive forms of competition. By revisiting the classical price and wage efficiency theoretic assumptions, this paper challenges the use of the 'efficiency' benchmark at both micro- (industrial organization) and macroeconomic levels. The case study of mergers and acquisitions (M&A) across several sectors of the economy will be used to demonstrate how internal growth and merger-specific efficiencies - some of which include the elimination of labour costs - affect wage efficiency and employment prospects. While 6.5% out of 3.7 million jobs losses as a result of M&A activity during a four-year period does not seem to have created a major macroeconomic imbalance, a closer look at recent M&A trends during 2013-2016 demonstrates that, indeed, job losses far outweigh the balance of job creation, i.e. one newly created job for every 40 job cuts. This paper challenges the well-established assumption that 'new jobs replace old jobs' following a successful merger. This false assumption is basically at odds with the fact that the majority of European Union mergers are approved, even if subject to conditions, leaving an insignificant percentage of mergers blocked since 1990 (24 or 0.3%).
Download or read book Mergers Acquisitions written by Bruno Cassiman and published by Edward Elgar Publishing. This book was released on 2006-01-01 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The content of this book is based on the final report of a research project carried out by an international team of researchers for the European Commission's Directorate General for Research"--copyright p.
Download or read book The Determinants and Effects of Mergers written by Dennis C. Mueller and published by Cambridge, Mass. : Oelgeschlager, Gunn & Hain ; Königstein/Ts. : Verlag A. Hain. This book was released on 1980 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Demand Elasticities in Antitrust Analysis written by Gregory Werden and published by . This book was released on 1996 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Market Power Versus Efficiency Effects of Mergers and Research Joint Ventures written by Klaus Peter Gugler and published by . This book was released on 2017 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: Merger control authorities may approve a merger based on a so-called “efficiency defence”. An important aspect in clearing mergers is that the efficiencies need to be merger-specific. Joint ventures, and in particular research joint ventures (RJVs), may achieve comparable efficiencies possibly without the anti-competitive (market power) effects of mergers. We empirically account for the endogenous formation of mergers and RJVs and provide evidence that at the semiconductor level mergers and RJVs achieve dominant (net) efficiency effects. Our counterfactuals provide evidence that the efficiency gains caused by mergers would have been achieved by RJVs as well. Therefore, RJVs often represent viable alternatives to mergers from the consumer welfare point of view. At the more disaggregate level we find that the efficiency effects are larger in the microcomponents than in the memory market. This finding emphasizes the importance of market determinants (such as product differentiation and entry) having an impact on efficiency and market power effects.
