Cross-border bank acquisitions
Subtitle: is there a performance effect?
By: Ricardo Correa.
Contributors: Board of Governors of the Federal Reserve System (U.S.)
Series: International finance discussion papers -- no. 922; International finance discussion papers (Online) -- no. 922.
Publisher: Federal Reserve Board
Published: 2008
Place of publication: Washington, D.C
Language: eng
Format: Electronic resource
Description: "This paper uses a unique database that includes deal and bank balance sheet information for 220 cross-border acquisitions between 1994 and 2003 to analyze the characteristics and performance effects of international takeovers on target banks.  A discrete choice estimation shows that banks are more likely to get acquired in a cross-border deal if they are large, bad performers, in a small country, and when the banking sector is concentrated.  Post-acquisition performance for target banks does not improve in the first two years relative to domestically-owned financial institutions.  This result is explained by a decrease in the banks' net interest margin in developed countries and an increase in overhead costs in emerging economies"--Federal Reserve Board web site.
Notes: Title from PDF file as viewed on 4/28/2008.

Includes bibliographical references.

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