Please use this identifier to cite or link to this item:
http://hdl.handle.net/10071/19963
Author(s): | Gulamhussen, M. A. Hennart, J. F. Pinheiro, C. |
Date: | 2016 |
Title: | What drives cross-border M&As in commercial banking? |
Volume: | 72 |
Pages: | S6 - S18 |
ISSN: | 0378-4266 |
DOI (Digital Object Identifier): | 10.1016/j.jbankfin.2016.07.007 |
Keywords: | International banking Market entry Banks Mergers and acquisitions |
Abstract: | Using a gravity model, we analyze the determinants of the probability that commercial banks in 89 acquiring countries and 118 target countries will undertake M&As over a 30-year period (1981–2010) and of the value of these M&As. We find that the value of cross-border M&As increases with the size of the acquiring country, and that both the probability and value of M&As vary positively with the depth of the financial market in acquirer countries and the presence of corporate and non-corporate customers from acquiring countries in target countries, and negatively with the geographic, psychic, and time zone distances between acquirer and target countries. Our study highlights the role of non-corporate customers and of psychic distance in the cross-border expansion of commercial banks through M&As. |
Peerreviewed: | yes |
Access type: | Open Access |
Appears in Collections: | BRU-RI - Artigos em revistas científicas internacionais com arbitragem científica |
Files in This Item:
File | Description | Size | Format | |
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GHP JBF POST PRINT.pdf | Pós-print | 706,48 kB | Adobe PDF | View/Open |
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