Impact Of Merger And Acquisition Strategies On The Profitability Of The Acquiring Banks: An Application Of Intervention Models In The Brazilian Banking Sector
Autor(a) principal: | |
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Data de Publicação: | 2012 |
Outros Autores: | , , |
Tipo de documento: | Artigo |
Idioma: | por |
Título da fonte: | RAM. Revista de Administração Mackenzie |
Texto Completo: | https://editorarevistas.mackenzie.br/index.php/RAM/article/view/2513 |
Resumo: | In recent decades, have seen an intensification of cultural change, social, political and especially economic. Undeniably, globalization has provided a growing integration between the markets and consequently an intensification of competition between organizations. This new order demonstrates the existing competitive need for organizations to rethink their strategies and restructure their business model. It is necessary for companies to focus their strategies in the global market for this, factors such as size and scale become critical to the practice of such strategies. In this scenario, which are the processes of mergers and acquisitions (M & A) as a growth strategy often adopted by organizations. In the context of worsening competitive, organizations are seeking more and more alternatives to the external value creation for shareholders. Given the volume of mergers and acquisitions involving Brazilian companies in the banking sector, it becomes relevant to determine the impacts occurring in companies that participated in these processes, seeking to understand the importance of this growth strategy in the results of financial institutions. From the relevance of the subject and the importance of knowing the financial results of merger and acquisition, the main objective of this study was to investigate the impact of merger and acquisition (M & A) on the profitability of banking acquirers. The analysis period is between the years 1994 and 2009. To identify the impact of M & A transactions in the profitability of organizations acquiring the banking sector, the methodology was applied regression and analysis of intervention in the metrics of profitability of organizations. The results presented by regressions showed highly significant impact, however small intensity. By applying the analysis methodology of intervention was possible to observe that M & A were able to change the behavior of the profitability of companies opting for such strategies. The study is innovative because it goes beyond the techniques commonly used for analysis of impacts of M & As in the acquiring institutions to verify the interventionist nature of merger and acquisition strategies on the profitability of Brazilian banks. |
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Impact Of Merger And Acquisition Strategies On The Profitability Of The Acquiring Banks: An Application Of Intervention Models In The Brazilian Banking SectorImpacto De Las Estrategias De Fusión Y Adquisición En La Rentabilidad De Los Bancos Adquirentes: Una Aplicación De Modelos De Intervención En El Sector Bancario BrasileñoImpactos das Estratégias de Fusão e Aquisição na Rentabilidade dos Bancos Adquirentes: uma Aplicação dos Modelos de Intervenção no Setor Bancário Brasileirofusões e aquisiçõesmodelo de intervençãoimpactosrentabilidaderegressãoIn recent decades, have seen an intensification of cultural change, social, political and especially economic. Undeniably, globalization has provided a growing integration between the markets and consequently an intensification of competition between organizations. This new order demonstrates the existing competitive need for organizations to rethink their strategies and restructure their business model. It is necessary for companies to focus their strategies in the global market for this, factors such as size and scale become critical to the practice of such strategies. In this scenario, which are the processes of mergers and acquisitions (M & A) as a growth strategy often adopted by organizations. In the context of worsening competitive, organizations are seeking more and more alternatives to the external value creation for shareholders. Given the volume of mergers and acquisitions involving Brazilian companies in the banking sector, it becomes relevant to determine the impacts occurring in companies that participated in these processes, seeking to understand the importance of this growth strategy in the results of financial institutions. From the relevance of the subject and the importance of knowing the financial results of merger and acquisition, the main objective of this study was to investigate the impact of merger and acquisition (M & A) on the profitability of banking acquirers. The analysis period is between the years 1994 and 2009. To identify the impact of M & A transactions in the profitability of organizations acquiring the banking sector, the methodology was applied regression and analysis of intervention in the metrics of profitability of organizations. The results presented by regressions showed highly significant impact, however small intensity. By applying the analysis methodology of intervention was possible to observe that M & A were able to change the behavior of the profitability of companies opting for such strategies. The study is innovative because it goes beyond the techniques commonly used for analysis of impacts of M & As in the acquiring institutions to verify the interventionist nature of merger and acquisition strategies on the profitability of Brazilian banks.En las últimas décadas, hemos visto una intensificación del cambio cultural, social, político y económico, especialmente. Sin lugar a dudas, la globalización ha proporcionado una integración creciente de los mercados y en consecuencia una intensificación de la competencia entre las organizaciones. Este nuevo orden de manifiesto la necesidad existente competitiva para las organizaciones a repensar sus estrategias y reestructurar su modelo de negocio. Es necesario que las empresas centran sus estrategias en el mercado global para ello, factores como el tamaño y la escala convertido en crítico para la práctica de dichas estrategias. En este escenario, que son los procesos de fusiones y adquisiciones (M & A) como una estrategia de crecimiento a menudo adoptada por las organizaciones. En el contexto de empeoramiento de la competitividad, las organizaciones están buscando alternativas cada vez más a la creación de valor para los accionistas externos. Dado el volumen de fusiones y adquisiciones de empresas brasileñas en el sector bancario, se convierte en relevante para determinar los impactos que se producen en las empresas que participaron en estos procesos, tratando de comprender la importancia de esta estrategia de crecimiento en los resultados de las instituciones financieras. De la relevancia del tema y la importancia de conocer los resultados financieros de las fusiones y adquisiciones, el objetivo principal de este estudio fue investigar el impacto de las fusiones y adquisiciones (M & A) en la rentabilidad de los adquirentes de banca. El período de análisis se sitúa entre los años 1994 y 2009. Para identificar el impacto de las fusiones y adquisiciones en la rentabilidad de las organizaciones que adquieren el sector bancario, la metodología se aplicó la regresión y el análisis de la intervención en los indicadores de rentabilidad de las organizaciones. Los resultados presentados por las regresiones mostraron impacto muy significativo, por pequeña que sea la intensidad. Mediante la aplicación de la metodología de análisis de la intervención fue posible observar que las F & A fueron capaces de cambiar el comportamiento de la rentabilidad de las empresas que opten por este tipo de estrategias. El estudio es innovador porque va más allá de las técnicas comúnmente utilizadas para el análisis del impacto de las fusiones y adquisiciones en las instituciones que adquieren para verificar la naturaleza intervencionista de las estrategias de fusión y adquisición en la rentabilidad de los bancos brasileños.Editora Mackenzie2012-08-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionEconometria.application/pdfapplication/mswordapplication/mswordapplication/mswordapplication/mswordapplication/mswordapplication/mswordapplication/mswordapplication/mswordapplication/mswordapplication/mswordapplication/mswordapplication/mswordapplication/mswordapplication/mswordapplication/mswordapplication/mswordhttps://editorarevistas.mackenzie.br/index.php/RAM/article/view/2513Revista de Administração Mackenzie; Vol. 13 No. 5 (2012)Revista de Administração Mackenzie; Vol. 13 Núm. 5 (2012)Revista de Administração Mackenzie (Mackenzie Management Review); v. 13 n. 5 (2012)1678-69711518-6776reponame:RAM. Revista de Administração Mackenzieinstname:Universidade Presbiteriana Mackenzie (MACKENZIE)instacron:MACKENZIEporhttps://editorarevistas.mackenzie.br/index.php/RAM/article/view/2513/3743https://editorarevistas.mackenzie.br/index.php/RAM/article/view/2513/8040https://editorarevistas.mackenzie.br/index.php/RAM/article/view/2513/8041https://editorarevistas.mackenzie.br/index.php/RAM/article/view/2513/8042https://editorarevistas.mackenzie.br/index.php/RAM/article/view/2513/8043https://editorarevistas.mackenzie.br/index.php/RAM/article/view/2513/8044https://editorarevistas.mackenzie.br/index.php/RAM/article/view/2513/8045https://editorarevistas.mackenzie.br/index.php/RAM/article/view/2513/8046https://editorarevistas.mackenzie.br/index.php/RAM/article/view/2513/8047https://editorarevistas.mackenzie.br/index.php/RAM/article/view/2513/8048https://editorarevistas.mackenzie.br/index.php/RAM/article/view/2513/8049https://editorarevistas.mackenzie.br/index.php/RAM/article/view/2513/8050https://editorarevistas.mackenzie.br/index.php/RAM/article/view/2513/8051https://editorarevistas.mackenzie.br/index.php/RAM/article/view/2513/8052https://editorarevistas.mackenzie.br/index.php/RAM/article/view/2513/8053https://editorarevistas.mackenzie.br/index.php/RAM/article/view/2513/8054https://editorarevistas.mackenzie.br/index.php/RAM/article/view/2513/8055Copyright (c) 2015 Revista de Administração Mackenzieinfo:eu-repo/semantics/openAccessPessanha, Gabriel Rodrigo GomesCalegario, Cristina Lelis LealSafadi, ThelmaAzara, Leiziane Neves de2015-06-25T00:03:07Zoai:ojs.editorarevistas.mackenzie.br:article/2513Revistahttps://editorarevistas.mackenzie.br/index.php/RAM/PUBhttps://editorarevistas.mackenzie.br/index.php/RAM/oairevista.adm@mackenzie.br1678-69711518-6776opendoar:2024-04-19T17:00:43.949221RAM. Revista de Administração Mackenzie - Universidade Presbiteriana Mackenzie (MACKENZIE)false |
dc.title.none.fl_str_mv |
Impact Of Merger And Acquisition Strategies On The Profitability Of The Acquiring Banks: An Application Of Intervention Models In The Brazilian Banking Sector Impacto De Las Estrategias De Fusión Y Adquisición En La Rentabilidad De Los Bancos Adquirentes: Una Aplicación De Modelos De Intervención En El Sector Bancario Brasileño Impactos das Estratégias de Fusão e Aquisição na Rentabilidade dos Bancos Adquirentes: uma Aplicação dos Modelos de Intervenção no Setor Bancário Brasileiro |
title |
Impact Of Merger And Acquisition Strategies On The Profitability Of The Acquiring Banks: An Application Of Intervention Models In The Brazilian Banking Sector |
spellingShingle |
Impact Of Merger And Acquisition Strategies On The Profitability Of The Acquiring Banks: An Application Of Intervention Models In The Brazilian Banking Sector Pessanha, Gabriel Rodrigo Gomes fusões e aquisições modelo de intervenção impactos rentabilidade regressão |
title_short |
Impact Of Merger And Acquisition Strategies On The Profitability Of The Acquiring Banks: An Application Of Intervention Models In The Brazilian Banking Sector |
title_full |
Impact Of Merger And Acquisition Strategies On The Profitability Of The Acquiring Banks: An Application Of Intervention Models In The Brazilian Banking Sector |
title_fullStr |
Impact Of Merger And Acquisition Strategies On The Profitability Of The Acquiring Banks: An Application Of Intervention Models In The Brazilian Banking Sector |
title_full_unstemmed |
Impact Of Merger And Acquisition Strategies On The Profitability Of The Acquiring Banks: An Application Of Intervention Models In The Brazilian Banking Sector |
title_sort |
Impact Of Merger And Acquisition Strategies On The Profitability Of The Acquiring Banks: An Application Of Intervention Models In The Brazilian Banking Sector |
author |
Pessanha, Gabriel Rodrigo Gomes |
author_facet |
Pessanha, Gabriel Rodrigo Gomes Calegario, Cristina Lelis Leal Safadi, Thelma Azara, Leiziane Neves de |
author_role |
author |
author2 |
Calegario, Cristina Lelis Leal Safadi, Thelma Azara, Leiziane Neves de |
author2_role |
author author author |
dc.contributor.author.fl_str_mv |
Pessanha, Gabriel Rodrigo Gomes Calegario, Cristina Lelis Leal Safadi, Thelma Azara, Leiziane Neves de |
dc.subject.por.fl_str_mv |
fusões e aquisições modelo de intervenção impactos rentabilidade regressão |
topic |
fusões e aquisições modelo de intervenção impactos rentabilidade regressão |
description |
In recent decades, have seen an intensification of cultural change, social, political and especially economic. Undeniably, globalization has provided a growing integration between the markets and consequently an intensification of competition between organizations. This new order demonstrates the existing competitive need for organizations to rethink their strategies and restructure their business model. It is necessary for companies to focus their strategies in the global market for this, factors such as size and scale become critical to the practice of such strategies. In this scenario, which are the processes of mergers and acquisitions (M & A) as a growth strategy often adopted by organizations. In the context of worsening competitive, organizations are seeking more and more alternatives to the external value creation for shareholders. Given the volume of mergers and acquisitions involving Brazilian companies in the banking sector, it becomes relevant to determine the impacts occurring in companies that participated in these processes, seeking to understand the importance of this growth strategy in the results of financial institutions. From the relevance of the subject and the importance of knowing the financial results of merger and acquisition, the main objective of this study was to investigate the impact of merger and acquisition (M & A) on the profitability of banking acquirers. The analysis period is between the years 1994 and 2009. To identify the impact of M & A transactions in the profitability of organizations acquiring the banking sector, the methodology was applied regression and analysis of intervention in the metrics of profitability of organizations. The results presented by regressions showed highly significant impact, however small intensity. By applying the analysis methodology of intervention was possible to observe that M & A were able to change the behavior of the profitability of companies opting for such strategies. The study is innovative because it goes beyond the techniques commonly used for analysis of impacts of M & As in the acquiring institutions to verify the interventionist nature of merger and acquisition strategies on the profitability of Brazilian banks. |
publishDate |
2012 |
dc.date.none.fl_str_mv |
2012-08-01 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Econometria. |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
https://editorarevistas.mackenzie.br/index.php/RAM/article/view/2513 |
url |
https://editorarevistas.mackenzie.br/index.php/RAM/article/view/2513 |
dc.language.iso.fl_str_mv |
por |
language |
por |
dc.relation.none.fl_str_mv |
https://editorarevistas.mackenzie.br/index.php/RAM/article/view/2513/3743 https://editorarevistas.mackenzie.br/index.php/RAM/article/view/2513/8040 https://editorarevistas.mackenzie.br/index.php/RAM/article/view/2513/8041 https://editorarevistas.mackenzie.br/index.php/RAM/article/view/2513/8042 https://editorarevistas.mackenzie.br/index.php/RAM/article/view/2513/8043 https://editorarevistas.mackenzie.br/index.php/RAM/article/view/2513/8044 https://editorarevistas.mackenzie.br/index.php/RAM/article/view/2513/8045 https://editorarevistas.mackenzie.br/index.php/RAM/article/view/2513/8046 https://editorarevistas.mackenzie.br/index.php/RAM/article/view/2513/8047 https://editorarevistas.mackenzie.br/index.php/RAM/article/view/2513/8048 https://editorarevistas.mackenzie.br/index.php/RAM/article/view/2513/8049 https://editorarevistas.mackenzie.br/index.php/RAM/article/view/2513/8050 https://editorarevistas.mackenzie.br/index.php/RAM/article/view/2513/8051 https://editorarevistas.mackenzie.br/index.php/RAM/article/view/2513/8052 https://editorarevistas.mackenzie.br/index.php/RAM/article/view/2513/8053 https://editorarevistas.mackenzie.br/index.php/RAM/article/view/2513/8054 https://editorarevistas.mackenzie.br/index.php/RAM/article/view/2513/8055 |
dc.rights.driver.fl_str_mv |
Copyright (c) 2015 Revista de Administração Mackenzie info:eu-repo/semantics/openAccess |
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Copyright (c) 2015 Revista de Administração Mackenzie |
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openAccess |
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Editora Mackenzie |
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Editora Mackenzie |
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Revista de Administração Mackenzie; Vol. 13 No. 5 (2012) Revista de Administração Mackenzie; Vol. 13 Núm. 5 (2012) Revista de Administração Mackenzie (Mackenzie Management Review); v. 13 n. 5 (2012) 1678-6971 1518-6776 reponame:RAM. Revista de Administração Mackenzie instname:Universidade Presbiteriana Mackenzie (MACKENZIE) instacron:MACKENZIE |
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Universidade Presbiteriana Mackenzie (MACKENZIE) |
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MACKENZIE |
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RAM. Revista de Administração Mackenzie - Universidade Presbiteriana Mackenzie (MACKENZIE) |
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revista.adm@mackenzie.br |
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