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Please use this identifier to cite or link to this item:
http://hdl.handle.net/2451/27097
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| Title: | Global Patterns of Mergers and Acquisition Activity in the Financial
Services Industry |
| Authors: | Smith, Roy C.
Walter, Ingo |
| Issue Date: | 1996 |
| Series/Report no.: | FIN-96-039 |
| Abstract: | This paper analyzes empirical evidence regarding mergers and
acquisitions in the global financial services industry. It examines the
global deal-flow during the eleven-year period 1985-95 and generates a
global typology of intra- and inter-sectoral M&A transactions among
and between banks, insurance companies and securities firms. From these
data it identifies financial services as one of the most active
industries involved in the global M&A deal-flow. It also identifies
the areas of greatest M&A intensity within the world financial
services industry. The paper then assesses the motivations for financial
services M&A transactions in the context of changed regulatory and
competitive factors and evolutions in management objectives emphasizing
the pursuit of greater operating efficiencies, enhanced economies of
scale and scope and greater market power which executives and boards of
directors believe has led (or will lead) to increased shareholder value
and competitive performance. |
| URI: | http://hdl.handle.net/2451/27097 |
| Appears in Collections: | Finance Working Papers
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