Banking consolidation in Europe: have M&A created short-term value to shareholders since the great financial crisis

Detalhes bibliográficos
Autor(a) principal: Moura, Sofia Nunes Aleixo Vaz de
Data de Publicação: 2021
Tipo de documento: Dissertação
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10362/143116
Resumo: In this paper we study Abnormal Returns(AR)generated by the consolidation between banks across Europe by using as a source of information the stock market prices and estimate the impact that several variables have on the AR. Analyzing data from 27bank mergers and acquisitions from 2010 to2020, significant positive return generation for both targets and acquiring banks is found, which is only partially in line with most past literature. Nonetheless, we could not derive strong conclusions about the impact of most of the selected covariates on the Cumulative AR in the period from the day before the announcement of the transaction until the day following the announcement.
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spelling Banking consolidation in Europe: have M&A created short-term value to shareholders since the great financial crisisBankingMergers and acquisitionsAbnormal returnsEvent studyEuropeRegression analysisDomínio/Área Científica::Ciências Sociais::Economia e GestãoIn this paper we study Abnormal Returns(AR)generated by the consolidation between banks across Europe by using as a source of information the stock market prices and estimate the impact that several variables have on the AR. Analyzing data from 27bank mergers and acquisitions from 2010 to2020, significant positive return generation for both targets and acquiring banks is found, which is only partially in line with most past literature. Nonetheless, we could not derive strong conclusions about the impact of most of the selected covariates on the Cumulative AR in the period from the day before the announcement of the transaction until the day following the announcement.Rodrigues, Paulo M.M.RUNMoura, Sofia Nunes Aleixo Vaz de2022-08-18T13:02:53Z2021-06-292021-06-292021-06-29T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10362/143116TID:202793192enginfo: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:RCAAP2024-03-11T05:21:13Zoai:run.unl.pt:10362/143116Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T03:50:43.143179Repositório 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 Banking consolidation in Europe: have M&A created short-term value to shareholders since the great financial crisis
title Banking consolidation in Europe: have M&A created short-term value to shareholders since the great financial crisis
spellingShingle Banking consolidation in Europe: have M&A created short-term value to shareholders since the great financial crisis
Moura, Sofia Nunes Aleixo Vaz de
Banking
Mergers and acquisitions
Abnormal returns
Event study
Europe
Regression analysis
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
title_short Banking consolidation in Europe: have M&A created short-term value to shareholders since the great financial crisis
title_full Banking consolidation in Europe: have M&A created short-term value to shareholders since the great financial crisis
title_fullStr Banking consolidation in Europe: have M&A created short-term value to shareholders since the great financial crisis
title_full_unstemmed Banking consolidation in Europe: have M&A created short-term value to shareholders since the great financial crisis
title_sort Banking consolidation in Europe: have M&A created short-term value to shareholders since the great financial crisis
author Moura, Sofia Nunes Aleixo Vaz de
author_facet Moura, Sofia Nunes Aleixo Vaz de
author_role author
dc.contributor.none.fl_str_mv Rodrigues, Paulo M.M.
RUN
dc.contributor.author.fl_str_mv Moura, Sofia Nunes Aleixo Vaz de
dc.subject.por.fl_str_mv Banking
Mergers and acquisitions
Abnormal returns
Event study
Europe
Regression analysis
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
topic Banking
Mergers and acquisitions
Abnormal returns
Event study
Europe
Regression analysis
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
description In this paper we study Abnormal Returns(AR)generated by the consolidation between banks across Europe by using as a source of information the stock market prices and estimate the impact that several variables have on the AR. Analyzing data from 27bank mergers and acquisitions from 2010 to2020, significant positive return generation for both targets and acquiring banks is found, which is only partially in line with most past literature. Nonetheless, we could not derive strong conclusions about the impact of most of the selected covariates on the Cumulative AR in the period from the day before the announcement of the transaction until the day following the announcement.
publishDate 2021
dc.date.none.fl_str_mv 2021-06-29
2021-06-29
2021-06-29T00:00:00Z
2022-08-18T13:02:53Z
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/10362/143116
TID:202793192
url http://hdl.handle.net/10362/143116
identifier_str_mv TID:202793192
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.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
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron_str RCAAP
institution RCAAP
reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
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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