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    ASIA unversity > 管理學院 > 財務金融學系 > 會議論文 >  Item 310904400/63739


    Please use this identifier to cite or link to this item: http://asiair.asia.edu.tw/ir/handle/310904400/63739


    Title: The Long Run Performance of Asian Commercial Bank Mergers and Acquisition
    Authors: Wang, Sue-Fang;Shih, Yi -Cheng;Lin, Pei -Lung
    Contributors: National Chiao Tung University;Taiwan Taipei University;Davicom Semiconductor Inc
    Keywords: Asian bank mergers and acquisition;Long run stock performance;Long run operating performance
    Date: 2013
    Issue Date: 2013-08-07 09:32:07 (UTC+8)
    Publisher: National Chiao Tung University;Taiwan Taipei University;Davicom Semiconductor Inc
    Abstract: In this paper, we investigate the long-run post-merger performance of Asian acquiring bank by using 293 deals in the 1997-2007 periods. We find the Asian acquiring banks experience negative long-term abnormal returns and are not efficiency improving following mergers and acquisition. However, DeYoung, Evanoff and Molyneux (2009) find European bank mergers appear to have resulted in both efficiency gains and stockholder value enhancement and North American bank mergers are efficiency improving, although the event-study literature presents a mixed picture regarding stockholder wealth creation. Therefore, our empirical results show that the long run stock returns and operating performance of Asian commercial bank mergers are different from those of the US and EU markets. In general, the long run stock performance and operating performance of Asian commercial bank merger and Acquisition are negative andAsian commercial bank merger and Acquisition cannot create synergy in the long run.
    Relation: 2013中部學術財金研討會 論文發表
    Appears in Collections:[財務金融學系] 會議論文

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