Academic Journal
From Competition to Cartel: Bank Mergers in the U.K. 1885 to 1925”, working paper
| العنوان: | From Competition to Cartel: Bank Mergers in the U.K. 1885 to 1925”, working paper |
|---|---|
| المؤلفون: | Fabio Braggion, Narly Dwarkasing, Lyndon Moore, We Thank, Ran Abramitzky, Stefano Battilossi, Paul Beaudry, Glenn Boyle, Forrest Capie, Mark Carlson, Fabio Castiglionesi, Toby Daglish, Marco Da Rin, Hans Degryse, Olivier De Jonghe, Stefano Della Vigna, Bob Deyoung, Tom Dixon, Mintra Dwarkasing, E Woodrow Eckard, Lew Evans, Richard Grossman, Leslie Hannah, Joel Houston, Vasso Ioannidou, Alberto Manconi, Spencer Martin, Steven Ongena, Maria Fabiana Peñas, Andrew Perchard, Enrico Perotti, Mitchell Petersen, Luc Renneboog, Jack Robles, Jorge Roldos, Klaus Schaeck, Christophe Spaenjers, John Turner |
| المساهمون: | The Pennsylvania State University CiteSeerX Archives |
| المصدر: | http://web.stanford.edu/group/SITE/archive/SITE_2012/2012_segment_3/2012_Segment_3_papers/moore.pdf. |
| سنة النشر: | 2012 |
| المجموعة: | CiteSeerX |
| الوصف: | What happens if banks are allowed to merge during a 40 year period without the regulator (almost) ever saying no? We explore this issue by studying the UK bank merger wave between 1885 and 1925. The lack of a regulatory authority and the con…dential nature of merger negotiations allow us to precisely measure the wealth e¤ects of M&As in a laissez-faire environment. We …nd positive wealth e¤ects for bidders (0.7%-1%) and targets (6.6%-8%) over the announcement month. Wealth creation appears to be related both to e¢ ciency gains and to increased oligopoly power. In the less competitive environment, banks reduced their loans and increased their holdings of government bonds. |
| نوع الوثيقة: | text |
| وصف الملف: | application/pdf |
| اللغة: | English |
| Relation: | http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.1077.9157; http://web.stanford.edu/group/SITE/archive/SITE_2012/2012_segment_3/2012_Segment_3_papers/moore.pdf |
| الاتاحة: | http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.1077.9157 http://web.stanford.edu/group/SITE/archive/SITE_2012/2012_segment_3/2012_Segment_3_papers/moore.pdf |
| Rights: | Metadata may be used without restrictions as long as the oai identifier remains attached to it. |
| رقم الانضمام: | edsbas.B11C8A2 |
| قاعدة البيانات: | BASE |
| الوصف غير متاح. |