- Tytuł:
- Performance changes around banks mergers and acquisitions: evidence from Poland
- Autorzy:
-
Budny, Katarzyna
Krasodomska, Joanna
Świetla, Katarzyna - Powiązania:
- https://bibliotekanauki.pl/articles/947641.pdf
- Data publikacji:
- 2019
- Wydawca:
- Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
- Tematy:
-
banks
M&A
Polska
ROAA
ROAE - Opis:
- This study investigates the influence of M&A on the performance of banks operating in Poland. We use a sample of 14 transactions that occurred in the Polish banking sector from 2001 to 2015. Our data set includes pre and post-merger accounting information covering a period of two years before and after the merger. We follow Pilloff’s [1996] approach to determine the average performance changes measured with ROAA and ROAE. According to the research results, M&As transactions seem to affect profitability as both ROAA and ROAE means change. However, these changes do not follow the same trend. The correlations between the acquirer’s pre-merger weighted performance measured with ROAA and ROAE and merger-related changes in performance are significant and negative. The same situation is observed as regards the target pre-merger weighted performance measured with ROAE and merger-related changes in performance. The results also suggest that large acquirers are associated with less successful M&A.
- Źródło:
-
Financial Sciences. Nauki o Finansach; 2019, 24, 2; 28-45
2080-5993
2449-9811 - Pojawia się w:
- Financial Sciences. Nauki o Finansach
- Dostawca treści:
- Biblioteka Nauki
Artykuł