Where do merger gains come from? Bank mergers from the perspective of insiders and outsiders

By Joel F. Houston, Christopher M. James, Michael D. Ryngaert. 2001

573 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/3e51c0ed73ea76c4d74141cdf405bd12586588c3

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Citations in the corpus

Foreign bank diversification and efficiency prior to and during the financial crisis: Does one business model fit all? (2015, background): “In addition, there is a substantial amount of literature that highlights possible time lags between the completion of a merger and the realization of gains (e.g., Rhoades, 1998; Calomiris and Karceski, 2000; Houston et al., 2001).”
The impact of the manager-shareholder conflict on acquiring bank returns (2003, background): “Houston et al. (1999) find that mergers that involve a high degree of geographic overlap result in substantial opportunities for cost savings and thus higher bank values relative to mergers that involve a low degree of overlap.”
Staying, Dropping, or Switching: The Impacts of Bank Mergers on Small Firms (2009, unknown): “Sapienza (2000) for an analysis of small firms, and Karceski, Ongena and Smith (2005) for an analysis of publicly listed firms.”
M&As Performance in the European Financial Industry (2006, unknown): “Houston et al. (2001) look at the underlying sources of value creation announced with the merger by the management teams involved.”
Does M&A Pay? A Survey of Evidence for the Decision-Maker (2004, unknown): “Houston et al. (2001) +15.58% ** (1985-90) +24.60”
How Much Did Banks Pay to Become Too-Big-To-Fail and to Become Systemically Important? (2009, unknown): “18 See Hoenig (1999) and Carow et al. (2006) for further discussion. the DFA has officially included nonbank financial firms in the TBTF list, since some large nonbank institutions will now be under the same regulatory and supervisory umbrella as other TBTF banking institutions.”
Explaining M&A Success in European Banks (2004, unknown): “To analyse the combined entity of the bidder and the target, we follow Houston and Ryngaert (1994) and use market value weighted returns.”
Performance Changes Around Bank Mergers: Revenue Enhancements versus Cost Reductions (2006, background): “Most closely related to our study is Houston, James, and Ryngaert (2001) who look at analysts’ estimates of projected cost savings and revenue enhancements associated with bank mergers.”
Do Financial Conglomerates Create or Destroy Economic Value (2009, background): “In addition, it contradicts Jensen’s (1986) free cash flow hypothesis.”