کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5088268 | 1375548 | 2016 | 13 صفحه PDF | دانلود رایگان |
![عکس صفحه اول مقاله: What drives cross-border M&As in commercial banking? What drives cross-border M&As in commercial banking?](/preview/png/5088268.png)
Using a gravity model, we analyze the determinants of the probability that commercial banks in 89 acquiring countries and 118 target countries will undertake M&As over a 30-year period (1981-2010) and of the value of these M&As. We find that the value of cross-border M&As increases with the size of the acquiring country, and that both the probability and value of M&As vary positively with the depth of the financial market in acquirer countries and the presence of corporate and non-corporate customers from acquiring countries in target countries, and negatively with the geographic, psychic, and time zone distances between acquirer and target countries. Our study highlights the role of non-corporate customers and of psychic distance in the cross-border expansion of commercial banks through M&As.
Journal: Journal of Banking & Finance - Volume 72, Supplement, November 2016, Pages S6-S18