Overnames en fusies tussen kredietinstellingen in de Europese Gemeenschap
Abstract
Mergers and acquisitions between credit institutions in the Economic Community - This contribution analyzes the determinants of EC bank takeovers over the period 1988-92 and their performance effects. Based on a survey of alternative takeover theories we propose and test a number of hypotheses related to e.g. the efficiency, managerial, capital and market power theories. The data consists of a sample of 1164 bank takeovers and financial information about the credit institutions involved in these transactions. For analytical purposes the sample is divided in four types of takeovers based on the degree of control transfer and operational integration (domestic majority acquisitions, domestic integral acquisitions, domestic mergers and cross-border acquisitions). The results suggest that the improvement of operational efficiency of the merged credit institutions is closely linked to the degree of integration and the ability to realize scale and scope economies. In domestic takeovers the market power and empire building motives are also found to be present. The results contain recommendations in areas such as bank competition policy and the optimal degree of diversification of credit institutions.
How to Cite:
Vander Vennet, R., (1995) “Overnames en fusies tussen kredietinstellingen in de Europese Gemeenschap”, Tijdschrift voor Sociale Wetenschappen 40(2), 190–201. doi: https://doi.org/10.21825/tvsw.95202
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