| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP14449 |
| DP14449 The Impacts of Stricter Merger Legislation on Bank Mergers and Acquisitions: Too-Big-To-Fail and Competition | |
| Giancarlo Spagnolo; Elena Carletti; Steven Ongena; Jan-Peter Siedlarek | |
| 发表日期 | 2020-02-27 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | The effect of regulations on the banking sector is a key question for financial intermediation. This paper provides evidence that merger control regulation, although not directly targeted at the banking sector, has substantial economic effects on bank mergers. Based on an extensive sample of European countries, we show that target announcement premia increased by up to 16 percentage points for mergers involving control shifts after changes in merger legislation, consistent with a market expectation of increased profitability. These effects go hand-in-hand with a reduction in the propensity for mergers to create banks that are too-big-to-fail in their country. |
| 主题 | Financial Economics ; Industrial Organization |
| 关键词 | Banks Regulation Mergers and acquisitions Merger control Antitrust |
| URL | https://cepr.org/publications/dp14449 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/543347 |
| 推荐引用方式 GB/T 7714 | Giancarlo Spagnolo,Elena Carletti,Steven Ongena,et al. DP14449 The Impacts of Stricter Merger Legislation on Bank Mergers and Acquisitions: Too-Big-To-Fail and Competition. 2020. |
| 条目包含的文件 | 条目无相关文件。 | |||||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
