{"product_id":"cross-border-bank-mergers-who-gains-and-why","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.","brand":"Peter Lang AG","offers":[{"title":"Default Title","offer_id":54260168753496,"sku":"9783631579237","price":59.99,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0278\/1295\/4195\/files\/9783631579237_f9b16d32-b0a7-41c0-8f21-9c1bf3a5e664.jpg?v=1765596640","url":"https:\/\/agendabookshop.com\/products\/cross-border-bank-mergers-who-gains-and-why","provider":"Agenda Bookshop","version":"1.0","type":"link"}