Original scientific paper
https://doi.org/10.1080/1331677X.2017.1311228
Domestic and cross-border returns to bidders in acquisitions into the E.U.
Samra Chaudary
Nawazish Mirza
Full text: english pdf 1.117 Kb
page 1021-1032
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cite
APA 6th Edition
Chaudary, S. & Mirza, N. (2017). Domestic and cross-border returns to bidders in acquisitions into the E.U.. Economic research - Ekonomska istraživanja, 30 (1), 1021-1032. https://doi.org/10.1080/1331677X.2017.1311228
MLA 8th Edition
Chaudary, Samra and Nawazish Mirza. "Domestic and cross-border returns to bidders in acquisitions into the E.U.." Economic research - Ekonomska istraživanja, vol. 30, no. 1, 2017, pp. 1021-1032. https://doi.org/10.1080/1331677X.2017.1311228. Accessed 12 Sep. 2024.
Chicago 17th Edition
Chaudary, Samra and Nawazish Mirza. "Domestic and cross-border returns to bidders in acquisitions into the E.U.." Economic research - Ekonomska istraživanja 30, no. 1 (2017): 1021-1032. https://doi.org/10.1080/1331677X.2017.1311228
Harvard
Chaudary, S., and Mirza, N. (2017). 'Domestic and cross-border returns to bidders in acquisitions into the E.U.', Economic research - Ekonomska istraživanja, 30(1), pp. 1021-1032. https://doi.org/10.1080/1331677X.2017.1311228
Vancouver
Chaudary S, Mirza N. Domestic and cross-border returns to bidders in acquisitions into the E.U.. Economic research - Ekonomska istraživanja [Internet]. 2017 [cited 2024 September 12];30(1):1021-1032. https://doi.org/10.1080/1331677X.2017.1311228
IEEE
S. Chaudary and N. Mirza, "Domestic and cross-border returns to bidders in acquisitions into the E.U.", Economic research - Ekonomska istraživanja, vol.30, no. 1, pp. 1021-1032, 2017. [Online]. https://doi.org/10.1080/1331677X.2017.1311228
Abstract
United Kingdom (U.K.) i.e., when U.K. banks acquire domestic banks
and when U.K. banks acquire cross-border banks within the European
Union (E.U.). The article includes 75% sample of the total population
of bank to bank domestic acquisitions within the U.K. and crossborder
acquisitions within the E.U. from 2006 until 2013. The article
comes to the conclusion, by the means of event study methodology,
that the shareholders returns of acquiring banks are negative and
statistically insignificant (–2.076%) when they acquire cross-border
banks. The results of U.K. banks acquiring domestic banks indicates
higher and statistically significant abnormal returns of 1.628% at 5%
significance level as compared to cross-border returns gained by U.K.
acquiring banks. The research found an overall insignificant abnormal
return of –0.448% for shareholders of the acquiring banks for the
entire portfolio. It can be concluded that, on average, shareholders
of the acquiring banks experience negative abnormal returns and
acquisitions do create (short-term) abnormal returns for the acquiring
banks’ shareholders around the acquisition announcement time.
Keywords
Cross-border mergers and acquisitions; event study; acquirers’ returns
Hrčak ID:
182586
URI
https://hrcak.srce.hr/182586
Publication date:
1.12.2017.
Visits: 1.027
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