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Mergers & Acquisitions in European Banking Higher Productivity or Better Synergy among Business Lines? (Ayadi R., Boussemart J.-P., Leleu H., Saidane D.)

Bank Efficiency M&A

Abstract This paper aims at assessing the extent to which M&As in European banking sector over the 1996-2003 period result in two simultaneous catching up and convergence processes of consolidating groups. First, do the M&As significantly contribute to the consolidating banks to catch-up the productivity benchmark? Second in terms of synergies or complementarities among business lines, is there a convergence process of output mixes among the individual banks of the M&A operations?
Our sample concerns 42 M&A transactions and 587 non-merging banks in Europe. As a main conclusion, M&A operations in the European banking industry appeared to be essentially motivated by an objective of improving complementarities among lines of work from each component of M&As rather than to increase productivity at the merged bank level.
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Libref/ Ayadi R., Boussemart J.-P., Leleu H., Saidane D. (2010) "Mergers & Acquisitions in European Banking Higher Productivity or Better Synergy among Business Lines?", IESEG School of Management Working Paper No. 2011-ECO-03, pp. 1 - 18
© Программирование — Александр Красильников, 2008
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