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Author: Yakov Amihud
Publisher: Springer Science & Business Media
ISBN: 9780792399759
Category : Business & Economics
Languages : en
Pages : 268
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Book Description
As the financial services industry becomes increasingly international, the more narrowly defined and historically protected national financial markets become less significant. Consequently, financial institutions must achieve a critical size in order to compete. Bank Mergers & Acquisitions analyses the major issues associated with the large wave of bank mergers and acquisitions in the 1990's. While the effects of these changes have been most pronounced in the commercial banking industry, they also have a profound impact on other financial institutions: insurance firms, investment banks, and institutional investors. Bank Mergers & Acquisitions is divided into three major sections: A general and theoretical background to the topic of bank mergers and acquisitions; the effect of bank mergers on efficiency and shareholders' wealth; and regulatory and legal issues associated with mergers of financial institutions. It brings together contributions from leading scholars and high-level practitioners in economics, finance and law.
Author: Yakov Amihud
Publisher: Springer Science & Business Media
ISBN: 9780792399759
Category : Business & Economics
Languages : en
Pages : 268
Get Book Here
Book Description
As the financial services industry becomes increasingly international, the more narrowly defined and historically protected national financial markets become less significant. Consequently, financial institutions must achieve a critical size in order to compete. Bank Mergers & Acquisitions analyses the major issues associated with the large wave of bank mergers and acquisitions in the 1990's. While the effects of these changes have been most pronounced in the commercial banking industry, they also have a profound impact on other financial institutions: insurance firms, investment banks, and institutional investors. Bank Mergers & Acquisitions is divided into three major sections: A general and theoretical background to the topic of bank mergers and acquisitions; the effect of bank mergers on efficiency and shareholders' wealth; and regulatory and legal issues associated with mergers of financial institutions. It brings together contributions from leading scholars and high-level practitioners in economics, finance and law.
Author: Robert DeYoung
Publisher:
ISBN:
Category : Bank mergers
Languages : en
Pages : 44
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Book Description
Author: Menggang Li
Publisher: Springer Nature
ISBN: 9811556601
Category : Business & Economics
Languages : en
Pages : 743
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Book Description
This book presents a range of recent advances concerning industrial restructuring strategies, industrial organization, industrial policy, departmental economic research, industrial competitiveness, regional industrial structure, national industrial economic security theory and empirical research. Successfully combining theory and practice, the book gathers the outcomes of the “6th International Conference on Industrial Economics System and Industrial Security Engineering”, which was held at the University of Maryland, USA.
Author: Randolph Beatty
Publisher:
ISBN:
Category : Bank holding companies
Languages : en
Pages : 50
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Book Description
Author:
Publisher: Lulu.com
ISBN: 9291316695
Category : Bank capital
Languages : en
Pages : 294
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Book Description
Author: Benton E. Gup
Publisher: Springer Science & Business Media
ISBN: 9400925247
Category : Business & Economics
Languages : en
Pages : 242
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Book Description
Historians of our financial system will record this as an age of deregulation and bank mergers. Deregulation, a cornerstone of President Reagan's Administration, resulted in federal and state legislation that contributed to increased competition for financial services and increased merger activity. During the 1981-1986 period, there were 2,139 mergers in banking and finance, accounting for 16 percent of total merger activity.l More mergers occurred in banking and finance than in any other industry. Because of these bank mergers, there are vast amounts of data avail able for scholarly research. This book presents some results of that research which will be of interest to academics, bankers, investors, legislators, and regulators. The book consists of ten articles, and it is divided into three parts. Part 1: National and Regional Bank Mergers gives a broad perspective of merger activity. The first article by Peter S. Rose compared the growth of bank holding companies that merged with those that did not merge. One conclusion of his study was that banks planning mergers tended to be aggressively managed and were often beset by problems, such as low profitability or declining loan quality. Mergers were one solution to their problems. But he found no solid evidence that mergers resulted in greater profitability or reduced risk. He also observed that acquiring banks did not seem to grow faster than those choosing not to merge.
Author: Zabihollah Rezaee
Publisher: John Wiley & Sons
ISBN: 0471046337
Category : Business & Economics
Languages : en
Pages : 457
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Book Description
THE DEFINITIVE GUIDE TO NAVIGATING TODAY'S FINANCIAL SERVICES INDUSTRY From "one-stop shopping" for financial services to major structural shifts within the industry, rapid changes in information technology, trends toward business combinations, statutory laws, and global competition have contributed to breaking down the geographic and product barriers that once separated traditional financial institutions from other financial entities. This complete authoritative resource is designed for all financial professionals involved in business valuations, mergers, and acquisitions, and includes: * How operations are regulated * How organizations are valued and why they merge * Related accounting standards * Merger and acquisition processes * The Gramm-Leach-Bliley Financial Modernization Act of 1999 * Target bank analysis and tax requirements . . . and much more. Written by an expert in the field, Financial Institutions, Valuations, Mergers, and Acquisitions is an essential tool for keeping up with the increasing and crucial changes in the financial services industry.
Author: Benton E. Gup
Publisher: John Wiley & Sons
ISBN: 9780471838111
Category : Business enterprises
Languages : en
Pages : 512
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Book Description
Author: Patrick A. Gaughan
Publisher: John Wiley & Sons
ISBN: 1119380731
Category : Business & Economics
Languages : en
Pages : 819
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Book Description
The essential M&A primer, updated with the latest research and statistics Mergers, Acquisitions, and Corporate Restructurings provides a comprehensive look at the field's growth and development, and places M&As in realistic context amidst changing trends, legislation, and global perspectives. All-inclusive coverage merges expert discussion with extensive graphs, research, and case studies to show how M&As can be used successfully, how each form works, and how they are governed by the laws of major countries. Strategies and motives are carefully analyzed alongside legalities each step of the way, and specific techniques are dissected to provide deep insight into real-world operations. This new seventh edition has been revised to improve clarity and approachability, and features the latest research and data to provide the most accurate assessment of the current M&A landscape. Ancillary materials include PowerPoint slides, a sample syllabus, and a test bank to facilitate training and streamline comprehension. As the global economy slows, merger and acquisition activity is expected to increase. This book provides an M&A primer for business executives and financial managers seeking a deeper understanding of how corporate restructuring can work for their companies. Understand the many forms of M&As, and the laws that govern them Learn the offensive and defensive techniques used during hostile acquisitions Delve into the strategies and motives that inspire M&As Access the latest data, research, and case studies on private equity, ethics, corporate governance, and more From large megadeals to various forms of downsizing, a full range of restructuring practices are currently being used to revitalize and supercharge companies around the world. Mergers, Acquisitions, and Corporate Restructurings is an essential resource for executives needing to quickly get up to date to plan their own company's next moves.
Author: Mark L. Sirower
Publisher: Simon and Schuster
ISBN: 1439137706
Category : Business & Economics
Languages : en
Pages : 321
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Book Description
With acquisition activity running into the trillions of dollars, it continues to be a favorite for corporate growth strategy, but creating shareholder value remains the most elusive outcome of these corporate strategies—after decades of research and billions of dollars paid in advisory fees, why do these major decisions continue to destroy value? Building on his groundbreaking research first cited in Business Week, Mark L. Sirower explains how companies often pay too much—and predictably never realize the promises of increased performance and competitiveness—in their quest to acquire other companies. Armed with extensive evidence, Sirower destroys the popular notion that the acquisition premium represents potential value. He provides the first formal and functional definition for synergy -- the specific increases in performance beyond those already expected for companies to achieve independently. Sirower's refreshing nuts-and-bolts analysis of the fundamentals behind acquisition performance cuts sharply through the existing folklore surrounding failed acquisitions, such as lack of "strategic fit" or corporate culture problems, and gives managers the tools to avoid predictable losses in acquisition decisions. Using several detailed examples of recent major acquisitions and through his masterful integration and extension of techniques from finance and business strategy, Sirower reveals: -The unique business gamble that acquisitions represent -The managerial challenges already embedded in current stock prices -The competitive conditions that must be met and the organizational cornerstones that must be in place for any possibility of synergy -The precise Required Performance Improvements (RPIs) implicitly embedded in acquisition premiums and the reasons why these RPIs normally dwarf realistic performance gains -The seductiveness and danger of sophisticated valuation models so often used by advisers The Synergy Trap is the first exposé of its kind to prove that the tendency of managers to succumb to the "up the ante" philosophy in acquisitions often leads to disastrous ends for their shareholders. Sirower shows that companies must meticulously plan—and account for huge uncertainties—before deciding to enter the acquisition game. To date, Sirower's work is the most comprehensive and rigorous, yet practical, analysis of the drivers of acquisition performance. This definitive book will become required reading for managers, corporate directors, consultants, investors, bankers, and academics involved in the mergers and acquisitions arena.
