A carregar...
Publicação
The impact of bank mergers and acquisitions on institutional risk: evidence from the Latin American market
| Nome: | Descrição: | Tamanho: | Formato: | |
|---|---|---|---|---|
| 729.55 KB | Adobe PDF |
Autores
Orientador(es)
Resumo(s)
This work project investigates the effect of bank consolidations on their idiosyncratic risk using the example of 218 transactions between 1998 and 2017 in Latin America. As a risk measure serves the bank z-score. The results show that banks gain stability through M&A with Latin American competitors. Furthermore, an OLS analysis with Huber-White robust standard errors reveals factors which influence the development of bank z-score through the consolidation. Product diversification and the relative size between acquirer and target increase the acquirer’s stability, while its liquidity, net interest income and the integration of a publicly listed target have a destabilizing effect.
Descrição
Palavras-chave
Risk management Finance Banking Mergers and acquisitions Bank Z-score Latin America Financial institutions