Mergers and acquisitions in the banking sector: an empirical review of the impact of merger announcement on abnormal returns

Detalhes bibliográficos
Autor(a) principal: Kolehmainen, Martti Eerik Juhani
Data de Publicação: 2009
Tipo de documento: Dissertação
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10362/9501
Resumo: A Work Project, presented as part of the requirements for the Award of a Masters Degree in Management from the NOVA – School of Business and Economics
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spelling Mergers and acquisitions in the banking sector: an empirical review of the impact of merger announcement on abnormal returnsMergersBanksAbnormal returnsMarket reactionA Work Project, presented as part of the requirements for the Award of a Masters Degree in Management from the NOVA – School of Business and EconomicsThis dissertation reviews and summarizes previous findings of merger announcement related abnormal returns. A sample of 183 event windows is collected and analyzed to observe cross-country differences. The results are discussed under five specific topics: location, payment method, strategic focus, size and corporate governance. The findings of this review indicate that target banks enjoy high abnormal returns both in the U.S. and in Europe. Bidding banks seem to incur negative returns on average while small value creation was observed for the merged entity. Target banks are generating higher returns in USA while bidding banks show better performance in Europe. A minor indication of decreasing U.S. bank returns is observed as the measurement period increases. Geographical and activity focus as well as use of cash as a payment method are seen to contribute to the higher abnormal returns.NSBE - UNLDai, QingleiRUNKolehmainen, Martti Eerik Juhani2013-05-08T12:30:55Z2009-062009-06-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10362/9501enginfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-03-11T03:42:37Zoai:run.unl.pt:10362/9501Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T03:18:52.189789Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Mergers and acquisitions in the banking sector: an empirical review of the impact of merger announcement on abnormal returns
title Mergers and acquisitions in the banking sector: an empirical review of the impact of merger announcement on abnormal returns
spellingShingle Mergers and acquisitions in the banking sector: an empirical review of the impact of merger announcement on abnormal returns
Kolehmainen, Martti Eerik Juhani
Mergers
Banks
Abnormal returns
Market reaction
title_short Mergers and acquisitions in the banking sector: an empirical review of the impact of merger announcement on abnormal returns
title_full Mergers and acquisitions in the banking sector: an empirical review of the impact of merger announcement on abnormal returns
title_fullStr Mergers and acquisitions in the banking sector: an empirical review of the impact of merger announcement on abnormal returns
title_full_unstemmed Mergers and acquisitions in the banking sector: an empirical review of the impact of merger announcement on abnormal returns
title_sort Mergers and acquisitions in the banking sector: an empirical review of the impact of merger announcement on abnormal returns
author Kolehmainen, Martti Eerik Juhani
author_facet Kolehmainen, Martti Eerik Juhani
author_role author
dc.contributor.none.fl_str_mv Dai, Qinglei
RUN
dc.contributor.author.fl_str_mv Kolehmainen, Martti Eerik Juhani
dc.subject.por.fl_str_mv Mergers
Banks
Abnormal returns
Market reaction
topic Mergers
Banks
Abnormal returns
Market reaction
description A Work Project, presented as part of the requirements for the Award of a Masters Degree in Management from the NOVA – School of Business and Economics
publishDate 2009
dc.date.none.fl_str_mv 2009-06
2009-06-01T00:00:00Z
2013-05-08T12:30:55Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/masterThesis
format masterThesis
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10362/9501
url http://hdl.handle.net/10362/9501
dc.language.iso.fl_str_mv eng
language eng
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv NSBE - UNL
publisher.none.fl_str_mv NSBE - UNL
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
repository.mail.fl_str_mv
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