The impact of the manager-shareholder conflict on acquiring bank returns

By Marcia Millon Cornett, Gayané Hovakimian, Darius N Palia, Hassan Tehranian. 2003

131 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/7577154c9bf45ea33e37524079784c490b5472e4

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Citations in the corpus

Performance Changes Around Bank Mergers: Revenue Enhancements versus Cost Reductions (2006, methodology): “One measure of activity diversification (used by Morck, Shleifer, and Vishny (1990), Benston, Hunter, and Wall (1995), DeLong (2001), and Cornett et al. (2003)) utilizes the correlation coefficient of stock returns for the merger partners.”
Do Financial Conglomerates Create or Destroy Economic Value (2009, unknown): “DeLong (2001b) finds no significant relation between long-term performance of bank mergers and geographic overlap between the two merged entities. Brewer, Jackson, Jagtiani, and Nguyen (2001) find that merger premiums increased by about 35 percent as a result of geographic deregulation, in this case”
Explaining M&A Success in European Banks (2004, unknown): “Cornett et al. (2000) duplicate the study of DeLong (2001) but look only at the bidder returns.”
Consolidation and Efficiency in the Financial Sector: A Review of the International Evidence (2003, background): “, focusing ones, as opposed to diversifying ones – see Cornett et al. (2003)). Moreover, managers without a large stake in their banks are more likely to get involved in non-value maximizing mergers. On the other hand, Hughes et al. (2003) find that banks run by managers who are less entrenched tend”
The impact of state ownership on performance differences in privately-owned versus state-owned banks: An international comparison (2010, unknown): “In addition, 1 See, for example, Booth et al. (2002), Brickley et al. (1988), Cornett et al. (2003), Denis and Denis (1994), Fama and Jensen (1983), McConnell and Servaes (1990), Mehran (1995), Morck et al. (1988), and Stulz (1988, 1990).”
Consolidation in the U.S. Banking Industry: Is the Long, Strange Trip About to End? (2005, unknown): “Cornett et al. (2003) Found that diversifying bank acquisitions earn significantly negative announcement-period abnormal returns for bidder banks, whereas focusing acquisitions earn zero abnormal returns.”