Mergers And Acquisitions In Banking And Finance

Author : Yakov Amihud,Geoffrey Miller
Publisher : Springer Science & Business Media
Page : 249 pages
File Size : 41,9 Mb
Release : 2013-04-17
Category : Business & Economics
ISBN : 9781475727999

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Bank Mergers & Acquisitions by Yakov Amihud,Geoffrey Miller Pdf

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.

Author : Ingo Walter
Publisher : Oxford University Press
Page : 328 pages
File Size : 53,6 Mb
Release : 2004-01-29
Category : Business & Economics
ISBN : 019803606X

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Mergers and Acquisitions in Banking and Finance by Ingo Walter Pdf

This book is intended to lay out, in a clear and intuitive as well as comprehensive way, what we know - or think we know - about mergers and acquisitions in the financial services sector. It evaluates their underlying drivers, factual evidence as to whether or not the basic economic concepts and strategic precepts are correct. It looks closely at the managerial dimensions in terms of the efficacy of merger implementation, notably the merger integration process. The focus is on enhancing shareholder value creation and the execution of strategies for the successful management of mergers. It also has a strong public-policy component in this "special" industry where successes can pay dividends and failures can cause serious problems that reach well beyond the financial services industry itself. The financial services sector is about halfway through one of the most dramatic periods of restructuring ever undergone by a major global industry. The impact of the restructuring has carried well beyond shareholders of the firms and involved into the domain of regulation and public policy as well as global competitive performance and economic growth. Financial services are a center of gravity of economic restructuring activity. M&A transactions in the financial sector comprise a surprisingly large share of the value of merger activity worldwide -- including only deals valued in excess of $100 million, during the period 1985-2000 there were approximately 233,700 M&A transactions worldwide in all industries, for a total volume of $15.8 trillion. Of this total, there were 166,200 mergers in the financial services industry (49.7%), valued at $8.5 trillion (54%). In all of restructuring frenzy, the financial sector has probably had far more than its share of strategic transactions that have failed or performed far below potential because of mistakes in basic strategy or mistakes in post-merger integration. It has also had its share of rousing successes. This book considers the key managerial issues, focusing on M&A transactions as a key tool of business strategy - "doing the right thing" to augment shareholder value. But in addition, the degree of integration required and the historic development of integration capabilities on the part of the acquiring firm, disruptions in human resources and firm leadership, cultural issues, timeliness of decision-making and interface management have co-equal importance - "doing it right."

Author : Matthias Schubert
Publisher : GRIN Verlag
Page : 15 pages
File Size : 48,6 Mb
Release : 2002-04-22
Category : Business & Economics
ISBN : 9783640044191

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Mergers and Acquisitions (M&As) in the Banking Sector by Matthias Schubert Pdf

Seminar paper from the year 2002 in the subject Business economics - Investment and Finance, grade: 1,0 (A), Berlin School of Economics, course: International Corporate Finance, language: English, abstract: The last decade of the 20th century was a decade of enormous changes in the banking sector worldwide. If one compares the largest banks of the world in 1995 with those at the end of 2000 it is obvious to see that many changes have happened in recent years: In 1995 all top five banks were from Japan (total assets in million USD in brackets): Dai-Ichi Kangyo Bank (626,171), Sumitomo Bank (617,053), Sakura Bank (607,245), Sanwa Bank (600,111) and Fuji Bank (587,154. At the end of 2000 the top five banks ranked by total assets were: Sumitomo Mitsui Banking Corp., Japan (958,189), CitiGroup, USA (902,210), Deutsche Bank Group, Germany (882,577), HSBC Holdings, U.K. (673,814) and Bayerische HypoVereinsbank, Germany (672,720). These newly-formed banking groups arose from mergers and acquisitions (M&As) and therefore they are good examples for all the M&As that have taken place in the banking sector worldwide in recent years. In this scientific paper the M&A activity in the banking sector is being analysed on a global basis and, where appropriate, with a special focus on European activities. To do so, the following procedure has been chosen: After the presentation of typical patterns of consolidation the main causes of consolidation and risks arising from M&As will be examined. Afterwards the economical results of the M&A process will be analysed to give a conclusion and an estimation on future activities

Author : Benton E. Gup
Publisher : Springer
Page : 236 pages
File Size : 45,9 Mb
Release : 1989-05-31
Category : Business & Economics
ISBN : 9780898383065

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Bank Mergers: Current Issues and Perspectives by Benton E. Gup Pdf

Historians of our financial system will record this as an age of deregulation and bank mergers. Deregulation, a cornerstone of President Reagan's Administration, resulted in federal and state legislation that contributed to increased competition for financial services and increased merger activity. During the 1981-1986 period, there were 2,139 mergers in banking and finance, accounting for 16 percent of total merger activity.l More mergers occurred in banking and finance than in any other industry. Because of these bank mergers, there are vast amounts of data avail able for scholarly research. This book presents some results of that research which will be of interest to academics, bankers, investors, legislators, and regulators. The book consists of ten articles, and it is divided into three parts. Part 1: National and Regional Bank Mergers gives a broad perspective of merger activity. The first article by Peter S. Rose compared the growth of bank holding companies that merged with those that did not merge. One conclusion of his study was that banks planning mergers tended to be aggressively managed and were often beset by problems, such as low profitability or declining loan quality. Mergers were one solution to their problems. But he found no solid evidence that mergers resulted in greater profitability or reduced risk. He also observed that acquiring banks did not seem to grow faster than those choosing not to merge.

Author : United States. Congress. House. Committee on Banking, Finance, and Urban Affairs
Publisher : Unknown
Page : 518 pages
File Size : 40,8 Mb
Release : 1992
Category : Business & Economics
ISBN : UVA:X002085027

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Bank Mergers by United States. Congress. House. Committee on Banking, Finance, and Urban Affairs Pdf

Author : United States. Congress. House. Committee on Banking and Financial Services
Publisher : Unknown
Page : 528 pages
File Size : 42,8 Mb
Release : 1998
Category : Business & Economics
ISBN : LOC:00185791075

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Bank Mergers by United States. Congress. House. Committee on Banking and Financial Services Pdf

Author : Gary Dymski
Publisher : Routledge
Page : 356 pages
File Size : 48,7 Mb
Release : 2016-09-16
Category : Business & Economics
ISBN : 9781315292434

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The Bank Merger Wave: The Economic Causes and Social Consequences of Financial Consolidation by Gary Dymski Pdf

This far-reaching study shows that operating efficiencies are not what are driving today's unrelenting bank merger mania. It suggests that bank mergers and consolidation may have effects that are contrary to consumer and non-financial business interests, such as lower rates of interest, increasing fees, and tighter credit constraints. Dymski recommends several new policies to apply to the evaluation of prospective mergers.

Author : Joshua Pearl,Joshua Rosenbaum
Publisher : John Wiley & Sons
Page : 496 pages
File Size : 51,5 Mb
Release : 2013-05-29
Category : Business & Economics
ISBN : 9781118715864

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Investment Banking by Joshua Pearl,Joshua Rosenbaum Pdf

Investment Banking, UNIVERSITY EDITION is a highly accessible and authoritative book written by investment bankers that explains how to perform the valuation work at the core of the financial world. This body of work builds on Rosenbaum and Pearl’s combined 30+ years of experience on a multitude of transactions, as well as input received from numerous investment bankers, investment professionals at private equity firms and hedge funds, attorneys, corporate executives, peer authors, and university professors. This book fills a noticeable gap in contemporary finance literature, which tends to focus on theory rather than practical application. It focuses on the primary valuation methodologies currently used on Wall Street—comparable companies, precedent transactions, DCF, and LBO analysis—as well as M&A analysis. The ability to perform these methodologies is especially critical for those students aspiring to gain full-time positions at investment banks, private equity firms, or hedge funds. This is the book Rosenbaum and Pearl wish had existed when we were trying to break into Wall Street. Written to reflect today’s dynamic market conditions, Investment Banking, UNIVERSITY EDITION skillfully: Introduces students to the primary valuation methodologies currently used on Wall Street Uses a step-by-step how-to approach for each methodology and builds a chronological knowledge base Defines key terms, financial concepts, and processes throughout Provides a comprehensive overview of the fundamentals of LBOs and an organized M&A sale process Presents new coverage of M&A buy-side analytical tools—which includes both qualitative aspects, such as buyer motivations and strategies, along with technical financial and valuation assessment tools Includes a comprehensive merger consequences analysis, including accretion/(dilution) and balance sheet effects Contains challenging end-of-chapter questions to reinforce concepts covered A perfect guide for those seeking to learn the fundamentals of valuation, M&A , and corporate finance used in investment banking and professional investing, this UNIVERSITY EDITION—which includes an instructor’s companion site—is an essential asset. It provides students with an invaluable education as well as a much-needed edge for gaining entry to the ultra-competitive world of professional finance.

Author : Jerilyn J. Castillo,Peter J. McAniff
Publisher : Circinus Business Press
Page : 790 pages
File Size : 47,7 Mb
Release : 2007
Category : Business & Economics
ISBN : 0976154803

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The Practitioner's Guide to Investment Banking, Mergers & Acquisitions, Corporate Finance by Jerilyn J. Castillo,Peter J. McAniff Pdf

"... Is a comprehensive primer on investment banking. It is rooted in practical advice as well as experience-based methods, and provides clear descriptions and numerical examples of many of the analyses undertaken on the job. Designed to demystify this closed-door world, The Practitioner's Guide clarifies and explains many of the formal and informal aspects of investment banking."--Book flap.

Author : Benton E Gup
Publisher : Unknown
Page : 252 pages
File Size : 45,5 Mb
Release : 1989-05-31
Category : Electronic
ISBN : 9400925255

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Bank Mergers by Benton E Gup Pdf

Author : Joshua Rosenbaum,Joshua Pearl
Publisher : John Wiley & Sons
Page : 272 pages
File Size : 45,6 Mb
Release : 2013-05-24
Category : Business & Economics
ISBN : 9781118715703

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Investment Banking Workbook by Joshua Rosenbaum,Joshua Pearl Pdf

Investment Banking WORKBOOK is the ideal complement to Investment Banking, Valuation, Leveraged Buyouts, and Mergers & Acquisitions, Second Edition, enabling you to truly master and refine the core skills at the center of the world of finance. This comprehensive study guide provides an invaluable opportunity to explore your understanding of the strategies and techniques covered in the main text, before putting them to work in real-world situations. The WORKBOOK—which parallels the main book chapter by chapter—contains over 400 problem-solving exercises and multiple-choice questions. Topics reviewed include: Valuation and its various forms of analysis, including comparable companies, precedent transactions and discounted cash flow analysis Leveraged buyouts—from the fundamentals of LBO economics and structure to detailed modeling and valuation M&A sell-side tools and techniques, including an overview of an organized M&A sale process M&A buy-side strategy and analysis, including a comprehensive merger consequences analysis that includes accretion/(dilution) and balance sheet effects The lessons found within will help you successfully navigate the dynamic world of investment banking and professional investing. Investment Banking WORKBOOK will enable you to take your learning to the next level in terms of understanding and applying the critical financial tools necessary to be an effective finance professional.

Author : United States. Congress. House. Committee on Banking and Financial Services. Subcommittee on Financial Institutions and Consumer Credit
Publisher : Unknown
Page : 208 pages
File Size : 49,6 Mb
Release : 1996
Category : Business & Economics
ISBN : PSU:000025256994

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Recent Trends in Bank Consolidation and Interstate Mega-mergers by United States. Congress. House. Committee on Banking and Financial Services. Subcommittee on Financial Institutions and Consumer Credit Pdf

Author : Anonim
Publisher : Unknown
Page : 138 pages
File Size : 44,9 Mb
Release : 2001
Category : Bank employees
ISBN : STANFORD:36105111399676

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The Employment Impact of Mergers and Acquisition in the Banking and Financial Services Sector by Anonim Pdf

Author : Greg N. Gregoriou,Karyn Neuhauser
Publisher : Finance and Capital Markets
Page : 304 pages
File Size : 47,5 Mb
Release : 2007-11-13
Category : Business & Economics
ISBN : PSU:000064306544

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Mergers and Acquisitions by Greg N. Gregoriou,Karyn Neuhauser Pdf

With the recent international growth of mergers and acquisitions, this book presents what drives corporate performance amid the controversy under different economic conditions, both in the US and across the globe. "Mergers and Acquisitions" can play a key task in maintaining the efficiency of world markets due to economies of scale with corporate restructuring playing a very important role in the corporate financial setting. The contributors further examine the role that target firms and acquiring firms assume, whether value and synergy is created, and the legal environment and the regulation effect of financial markets on mergers and acquisitions on a global basis. Cases from around the world, including Canada, Australia and China, are also presented and discussed.

Author : Mr.Gianni De Nicolo,Philip F. Bartholomew,Jahanara Zaman,Ms.Mary G. Zephirin
Publisher : International Monetary Fund
Page : 46 pages
File Size : 53,7 Mb
Release : 2003-07-01
Category : Business & Economics
ISBN : 9781451857603

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Bank Consolidation, Internationalization, and Conglomeration by Mr.Gianni De Nicolo,Philip F. Bartholomew,Jahanara Zaman,Ms.Mary G. Zephirin Pdf

This paper documents global trends in bank activity, consolidation, internationalization, and financial firm conglomeration, and explores the extent to which financial firm risk and systemic risk potential in banking are related to consolidation and conglomeration. We find that while there is a substantial upward trend in conglomeration globally, consolidation and internationalization exhibit uneven patterns across world regions. Trends in consolidation and conglomeration indicate increased risk profiles for large, conglomerate financial firms, and higher levels of systemic risk potential for more concentrated banking systems. We outline research directions aimed at explaining why bank consolidation and conglomeration do not necessarily yield either safer financial firms or more resilient banking systems.