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How Did the Asian Stock Markets React to Bank Mergera after the 1997 Financial Crisis?
Abstract : The objective of this paper is to empirically assess the stock market reaction to the announcement of bank mergers and acquisitions (M&As) in eight East Asian countries over the 1997-2003 period. M&As are classified according to the status of entity, the time period of the deal and the maturity of the banking system. A bivariate GARCH model is used to estimate abnormal returns taking beta conditional variability into account. We find that the market reacted negatively to M&As during the crisis period (1997-2000) and also in the less mature banking systems (Indonesia, Malaysia, the Philippines, South Korea and Thailand).
Littérature citée [21 références]
https://hal-unilim.archives-ouvertes.fr/hal-00828518
Contributeur : Thierno Barry <>
Soumis le : mercredi 12 novembre 2014 - 19:15:44
Dernière modification le : vendredi 6 mars 2020 - 02:06:00
Document(s) archivé(s) le : vendredi 13 février 2015 - 11:35:32
Contributeur : Thierno Barry <>
Soumis le : mercredi 12 novembre 2014 - 19:15:44
Dernière modification le : vendredi 6 mars 2020 - 02:06:00
Document(s) archivé(s) le : vendredi 13 février 2015 - 11:35:32
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paper-k2828_final.pdf
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