Bank mergers and American bank competitiveness

  • Jonathan R. Macey
  • Geoffrey P. Miller
Part of the The New York University Salomon Center Series on Financial Markets and Institutions book series (SALO, volume 3)


In this paper we attempt to elaborate on the observation that “the common environmental feature that underlies mergers and acquisitions throughout the U.S. economy is increased competition.”1 Motivating this paper is the sharp contrast between the high cost of bank mergers and acquisitions and the large number of such transactions. The existing legal rules and regulations that govern bank mergers and acquisitions make such transactions very costly. The legal environment dramatically increases the transaction costs of mergers and acquisitions and especially of hostile takeovers in the field of banking.


Corporate Governance Supra Note Mutual Fund Commercial Bank Pension Fund 
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Copyright information

© Springer Science+Business Media Dordrecht 1998

Authors and Affiliations

  • Jonathan R. Macey
  • Geoffrey P. Miller

There are no affiliations available

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