Bank Mergers & Acquisitions (The New York University Salomon Center Series on Financial Markets and Institutions, 3)

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.

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.

Front Matter....Pages i-xxi Front Matter....Pages 1-1 Bank consolidation: A central banker’s perspective....Pages 3-19 Global patterns of mergers and acquisition activity in the financial service industry....Pages 21-36 Twin information revolutions and the future of financial intermediation....Pages 37-56 Front Matter....Pages 57-57 The value effects of bank mergers and acquisitions....Pages 59-78 The efficiency effects of bank mergers and acquisition: A preliminary look at the 1990s data....Pages 79-111 Consolidation in U.S. banking: Implications for efficiency and risk....Pages 113-135 The effect of bank ownership changes on subsidiary-level earnings....Pages 137-172 Front Matter....Pages 173-173 Bank mergers and American bank competitiveness....Pages 175-190 Consolidation in the banking industry: An antitrust perspective....Pages 191-206 Reassessing risk-based capital in the 1990s: Encouraging consolidation and productivity....Pages 207-220 The consolidation of the banking industry and small business lending....Pages 221-235