Bank mergers, X-efficiency, and the market for corporate control

Article Abstract:

Bank mergers have been evaluated to justify whether the traditional market for corporate control story where better performance is subsequently achieved when well-managed banks purchase poorly managed banks is consistent with the pre-and post-merger X-inefficiency pattern in banks. There were 348 mergers approved by the OCC during 1978 and 1988 evaluated, and results were not consistent with the traditional market for corporate control story. The costs of acquiring banks and their targets have been found to be considerably higher than that of their best practices peers.

Economic aspects

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Wealth effects of intraholding company bank mergers: evidence from shareholder returns

Article Abstract:

An event study analysis of intracompany bank mergers reveals suggestive results that interstate consolidation of banking companies could yield efficiencies and enhance the companies' profitability. The detection of significant, positive average and cumulative average abnormal returns following a merger also reflect investor expectations but may need further evaluation in terms of size and determinants of gains.

Analysis, Investor relations

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Divestification in interstate banking: the search for related performance profiles between acquiring and acquired banking firms expanding across state lines

Article Abstract:

Research on interstate and cross-border bank mergers in the US, Japan, and Western Europe is presented. There appears to be performance profile differences in interstate banking.

United States, Statistical Data Included, Management, Interstate banking

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