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What drives acquisitions in the EU banking industry? The role of bank regulation and supervision framework, bank specific and market specific factors

Pasiouras Fotios, Sailesh Tanna , Chrysovalantis Gaganis

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URIhttp://purl.tuc.gr/dl/dias/C908B4FC-4A4A-49B0-9AD2-F0608DFF9BD3-
Identifierhttps://doi.org/10.1111/j.1468-0416.2011.00165.x-
Languageen-
TitleWhat drives acquisitions in the EU banking industry? The role of bank regulation and supervision framework, bank specific and market specific factorsen
CreatorPasiouras Fotiosen
CreatorΠασιουρας Φωτιοςel
CreatorSailesh Tanna en
CreatorChrysovalantis Gaganisen
PublisherWileyen
Content SummaryWe investigate the determinants of commercial bank acquisitions in the former fifteen countries of the European Union by evaluating the impact of bank-specific measures, such as size, growth and efficiency of banks, and external influences reflecting industry level differences in the regulatory and supervision framework, market environment and economic conditions. Our empirical analysis involves multinomial logit estimation at various levels in order to identify those characteristics that most consistently predict targets and acquirers from a sample of over 1400 commercial banks. The overall results indicate that, relative to banks that were not involved in the acquisitions, (i) targets and acquirers were significantly larger, less well capitalized and less cost efficient, (ii) targets were less profitable with lower growth prospects, and acquirers more profitable with higher growth prospects, (iii) external factors have affected targets and acquirers differently, and their effects have not been consistent or robust to sample size changes.en
Type of ItemPeer-Reviewed Journal Publicationen
Type of ItemΔημοσίευση σε Περιοδικό με Κριτέςel
Licensehttp://creativecommons.org/licenses/by/4.0/en
Date of Item2015-10-27-
Date of Publication2011-
Bibliographic CitationPasiouras F, Tanna S, Gaganis C., "What Drives Acquisitions in the EU Banking Industry? The Role of Bank Regulation and Supervision Framework, Bank Specific and Market Specific Factors", Financial Markets, Institutions and Instruments, vol. 20, no. 2, pp. 29-77, May 2011. doi: 10.1111/j.1468-0416.2011.00165.xen

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