How Did the Asian Stock Markets React to Bank Mergera after the 1997 Financial Crisis? - Archive ouverte HAL Accéder directement au contenu
Article Dans Une Revue Pacific Economic Review Année : 2008

How Did the Asian Stock Markets React to Bank Mergera after the 1997 Financial Crisis?

Résumé

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).
Fichier principal
Vignette du fichier
paper-k2828_final.pdf (292.95 Ko) Télécharger le fichier
Origine : Fichiers produits par l'(les) auteur(s)
Loading...

Dates et versions

hal-00828518 , version 1 (12-11-2014)

Identifiants

Citer

Céline Meslier-Crouzille, Laetitia Lepetit, Carlos C. Bautista. How Did the Asian Stock Markets React to Bank Mergera after the 1997 Financial Crisis?. Pacific Economic Review, 2008, 13 (2), pp.171-182. ⟨10.1111/j.1468-0106.2008.00395.x⟩. ⟨hal-00828518⟩

Collections

UNILIM LAPE
79 Consultations
287 Téléchargements

Altmetric

Partager

Gmail Facebook Twitter LinkedIn More