{"product_id":"cross-border-bank-mergers-who-gains-and-why-von-dirk-schmautzer","title":"Cross-Border Bank Mergers: Who Gains and Why?","description":"This study examines the short-term and long-term wealth effects of 96 cross-border bank mergers between 1985 and 2005. In the short-term, even after a thorough accounting for information leakage, transactions are found to be wealth-creating, albeit only on a net basis with target gains more than compensating for bidder losses. Contrary to earlier evidence, no abnormal long-term returns are detected, which supports the validity of the inferences drawn from the short-term. Furthermore, a thorough analysis of factors that can explain wealth creation ex-ante suggests that bidder and net wealth creation is higher if bidders take over targets that are already relatively cost efficient ex-ante and do not acquire in «hot» deal markets.\u003cdiv class=\"aw-variant-hidden-subtitle-div\" id=\"aw-variant-subtitle-9783631579237\"\u003e\u003ch3\u003e\u003c\/h3\u003e\u003c\/div\u003e","brand":"Autorenwelt Shop","offers":[{"title":"Softcover - 9783631579237","offer_id":53751408689477,"sku":"9783631579237","price":78.85,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0940\/0622\/files\/1ce6e6b0-ad0c-4c55-8b57-33c7ef2fe72f.jpg?v=1781070563","url":"https:\/\/shop.autorenwelt.de\/products\/cross-border-bank-mergers-who-gains-and-why-von-dirk-schmautzer","provider":"Autorenwelt Shop","version":"1.0","type":"link"}