Verlag: Frankfurt am Main : PL Academic Research [2015]., 2015
ISBN 10: 3631670540 ISBN 13: 9783631670545
Sprache: Englisch
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Zustand: Sehr gut. 189 Seiten : Illustrationen ; 21 cm Tadelloses Exemplar. - Overview -- List of tables 11 -- List o f figures 13 -- List of abbreviations 15 -- 1 Introduction17 -- 11 The importance and relevance of bank mergers and -- acquisitions in the Asia-Pacific region 17 -- 12 Thesis structure 21 -- 2 Literature review of the performance of bank mergers -- and acquisitions23 -- 21 Scope of empirical research methodologies 24 -- 22 Prior empirical research results on the success of bank -- mergers and acquisitions 32 -- 23 Evaluation of the empirical findings50 -- 24 Determinants of successful merger transactions in the -- financial sector52 -- 25 The wealth effects of mergers and acquisitions on industry rivals 61 -- 26 Assessment of the empirical findings on bank mergers -- and acquisitions64 -- 3 The shareholder value effects of the financial sector -- consolidation in the Asia-Pacific region 67 -- 31 Related literature on wealth effects of the financial -- sector consolidation68 -- 32 Data set and methodology 74 -- 33 Results of the empirical investigation86 -- 34 Overall effects of financial sector consolidation in the -- Asia-Pacific region97 -- 35 Determinants of the short-term market performance 100 -- 36 Robustness checks 112 -- 37 Evaluation of the shareholder wealth effects of the -- financial sector consolidation in the Asia-Pacific region 121 -- 4 The impact of bank mergers in the Asia-Pacific region -- on the acquiring institutions cost of debt125 -- 41 Related literature on CDS spread changes and the effect -- of mergers on debtholders 126 -- 42 Data and empirical methodology136 -- 43 The impact of merger announcements on bidder CDS spreads 146 -- 44 Determinants of the short-term CDS spread changes 148 -- 45 Robustness checks153 -- 46 Evaluation of the impact of bank mergers on the -- acquirer cost of debt 156 -- 5 Concluding remarks 159 -- 51 Summary and discussion of the main results 159 -- 52 Limitations and avenues for future research 162 -- 6 Reference list 165 -- Appendix 183 -- Table of Contents -- List of tables 11 -- List of figures 13 -- List of abbreviations 15 -- 1 Introduction17 -- 11 The importance and relevance of bank mergers and -- acquisitions in the Asia-Pacific region 17 -- 12 Thesis structure21 -- 2 Literature review of the performance of bank mergers -- and acquisitions23 -- 21 Scope of empirical research methodologies24 -- 211 The event study methodology 24 -- 212 Dynamic efficiency studies 28 -- 213 Performance studies 29 -- 214 Evaluation of the different empirical methodologies 30 -- 22 Prior empirical research results on the success of -- bank mergers and acquisitions 32 -- 221 Evidence from United States event studies 33 -- 222 Evidence from European and worldwide event studies 39 -- 223 Research findings of dynamic efficiency studies43 -- 224 Insights from performance studies47 -- 225 The effects of bank mergers and acquisitions: -- Evidence from Asia 49 -- 23 Evaluation of the empirical findings50 -- 24 Determinants of successful merger transactions in the -- financial sector52 -- 241 Characteristics related to theacquirer or target 53 -- 242 Characteristics specific to the transaction 54 -- 243 Characteristics in regard to the regulatory and -- economic environment55 -- 244 The influence of managers on the outcome of bank mergers 56 -- 245 Evidence on regulatory arbitrage and -- "Too-Big-to-Fail" bank mergers58 -- 25 The wealth effects of mergers and acquisitions on industry rivals 61 -- 251 The Market Power Hypothesis 62 -- 252 The Efficiency Hypothesis63 -- 253 The Acquisition Probability Hypothesis 63 -- 26 Assessment of the empirical findings on bank mergers -- and acquisitions64 -- 3 The shareholder value effects of the financial -- sector consolidation in the Asia-Pacific region 67 -- 31 Related literature on wealth effects of the financial sector -- consolidation 68 -- 311 Bank mergers in advanced economies69 -- 312 Bank mergers in emerging economies70 -- 313 The rival effects of mergers and acquisitions 71 -- 32 Data set and methodology 74 -- 321 Bidder and target bank data selection andsample description 74 -- 322 Rival bank data selection and sample description 79 -- 323 Empirical methodology82 -- 324 Significance tests 84 -- 33 Results of the empirical investigation86 -- 331 Bidding bank performance in Asia-Pacific bank mergers -- and acquisitions 86 -- 332 Bidding bank rival performance in Asia-Pacific -- bank mergers and acquisitions 89 -- 333 Target performance in Asia-Pacific bank mergers -- and acquisitions 92 -- 334 Target rival performance in Asia-Pacific bank mergers -- and acquisitions 94 -- 34 Overall effects of financial sector consolidation in the -- Asia-Pacific region 97 -- 35 Determinants of the short-term market performance 100 -- 351 Factors influencing the bidding banks short-term -- market performance100 -- 352 Bidding bank regression results104 -- 353 Bidding bank rival regression results 110 -- 36 Robustness checks 112 -- 361 Difference in time periods 112 -- 362 Sensitivity analysis of the rival reactions 116 -- 363 Median regression on the short-term performance -- of bidding banks 119 -- 37 Evaluation of the shareholder wealth effects of the financial -- sector consolidation in the Asia-Pacific region 121 -- 4 The impact of bank mergers in the Asia-Pacific region -- on the acquiring institutions cost of debt125 -- 41 Related literature on CDS spread changes and the effect of -- mergers on debtholders 126 -- 411 CDS event studies127 -- 412 The effect of bank mergers and acquisitions -- on debtholders 135 -- 42 Data and empirical methodology136 -- 421 The mergers and acquisitions data set 136 -- 422 The CDS data 140 -- 423 Empirical methodology 144 -- 43 The impact of merger announcements on bidder CDS spreads 146 -- 44 Determinants of the short-term CDS spread changes 148 -- 45 Robustness checks 153 -- 46 Evaluation of the impact of bank mergers on the acquirer -- cost of debt156 5 Concluding remarks159 -- 51 Summary an.
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In den WarenkorbPaperback. Zustand: New. This book offers a comprehensive analysis of the shareholder wealth effects of the financial sector consolidation in the Asia-Pacific region and its impact on the acquirer's cost of debt. By not only examining the capital market reactions to the institutions directly involved in MandA transactions, but also their closest rivals, it is possible to draw clearer conclusions in regard to the overall success of the financial sector consolidation in this region. In addition, by investigating the acquiring institution's CDS market reaction to merger announcements, valuable insights are offered in regard to the difference between equity and debt market perceptions of bank MandAs. The analyses suggest that equity and debt markets consider different factors when evaluating the success of mergers.
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Paperback. Zustand: new. Paperback. This book offers a comprehensive analysis of the shareholder wealth effects of the financial sector consolidation in the Asia-Pacific region and its impact on the acquirers cost of debt. By not only examining the capital market reactions to the institutions directly involved in M&A transactions, but also their closest rivals, it is possible to draw clearer conclusions in regard to the overall success of the financial sector consolidation in this region. In addition, by investigating the acquiring institutions CDS market reaction to merger announcements, valuable insights are offered in regard to the difference between equity and debt market perceptions of bank M&As. The analyses suggest that equity and debt markets consider different factors when evaluating the success of mergers. This book offers a comprehensive analysis of the shareholder wealth effects of the financial sector consolidation in the Asia-Pacific region and its impact on the acquirers cost of debt. The capital market reactions of the institutions directly involved in the M&A and their rivals are examined to evaluate the success of the consolidation process. Shipping may be from multiple locations in the US or from the UK, depending on stock availability.
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Taschenbuch. Zustand: Neu. Neuware -This book offers a comprehensive analysis of the shareholder wealth effects of the financial sector consolidation in the Asia-Pacific region and its impact on the acquirer¿s cost of debt. By not only examining the capital market reactions to the institutions directly involved in M&A transactions, but also their closest rivals, it is possible to draw clearer conclusions in regard to the overall success of the financial sector consolidation in this region. In addition, by investigating the acquiring institution¿s CDS market reaction to merger announcements, valuable insights are offered in regard to the difference between equity and debt market perceptions of bank M&As. The analyses suggest that equity and debt markets consider different factors when evaluating the success of mergers. 190 pp. Englisch.
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Taschenbuch. Zustand: Neu. Bank mergers and acquisitions in the Asia-Pacific region | An investigation of the shareholder wealth effects of the financial sector consolidation and its impact on the acquirer's cost of debt | Sascha Kolaric | Taschenbuch | Kartoniert / Broschiert | Englisch | 2015 | Peter Lang | EAN 9783631670545 | Verantwortliche Person für die EU: Lang, Peter GmbH, Gontardstr. 11, 10178 Berlin, r[dot]boehm-korff[at]peterlang[dot]com | Anbieter: preigu.
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Paperback. Zustand: new. Paperback. This book offers a comprehensive analysis of the shareholder wealth effects of the financial sector consolidation in the Asia-Pacific region and its impact on the acquirers cost of debt. By not only examining the capital market reactions to the institutions directly involved in M&A transactions, but also their closest rivals, it is possible to draw clearer conclusions in regard to the overall success of the financial sector consolidation in this region. In addition, by investigating the acquiring institutions CDS market reaction to merger announcements, valuable insights are offered in regard to the difference between equity and debt market perceptions of bank M&As. The analyses suggest that equity and debt markets consider different factors when evaluating the success of mergers. This book offers a comprehensive analysis of the shareholder wealth effects of the financial sector consolidation in the Asia-Pacific region and its impact on the acquirers cost of debt. The capital market reactions of the institutions directly involved in the M&A and their rivals are examined to evaluate the success of the consolidation process. Shipping may be from our Sydney, NSW warehouse or from our UK or US warehouse, depending on stock availability.
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In den WarenkorbPaperback. Zustand: New. This book offers a comprehensive analysis of the shareholder wealth effects of the financial sector consolidation in the Asia-Pacific region and its impact on the acquirer's cost of debt. By not only examining the capital market reactions to the institutions directly involved in MandA transactions, but also their closest rivals, it is possible to draw clearer conclusions in regard to the overall success of the financial sector consolidation in this region. In addition, by investigating the acquiring institution's CDS market reaction to merger announcements, valuable insights are offered in regard to the difference between equity and debt market perceptions of bank MandAs. The analyses suggest that equity and debt markets consider different factors when evaluating the success of mergers.
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Taschenbuch. Zustand: Neu. This item is printed on demand - it takes 3-4 days longer - Neuware -This book offers a comprehensive analysis of the shareholder wealth effects of the financial sector consolidation in the Asia-Pacific region and its impact on the acquirer's cost of debt. By not only examining the capital market reactions to the institutions directly involved in M&A transactions, but also their closest rivals, it is possible to draw clearer conclusions in regard to the overall success of the financial sector consolidation in this region. In addition, by investigating the acquiring institution's CDS market reaction to merger announcements, valuable insights are offered in regard to the difference between equity and debt market perceptions of bank M&As. The analyses suggest that equity and debt markets consider different factors when evaluating the success of mergers. 190 pp. Englisch.
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In den WarenkorbKartoniert / Broschiert. Zustand: New. Dieser Artikel ist ein Print on Demand Artikel und wird nach Ihrer Bestellung fuer Sie gedruckt. This book offers a comprehensive analysis of the shareholder wealth effects of the financial sector consolidation in the Asia-Pacific region and its impact on the acquirer s cost of debt. The capital market reactions of the institutions directly involved in.