Do M&As Create Value for Shareholders? The Effect on Bank Efficiency

  • Franco Fiordelisi
Part of the Palgrave Macmillan Studies in Banking and Financial Institutions book series (SBFI)


Similarly to Chapter 6, this chapter provides a dynamic study et al., to assess the Merger and Acquisition effects on cost efficiency in European banking over a five-year period. By using a large sample from the countries mainly involved in the M&A phenomenon — that is, France, Germany, Italy, and the United Kingdom — our analysis compares cost efficiency levels in a moment prior and successive to the deal itself (Altunbus and Margques-Ibanez, 2004).


Data Envelope Analysis Cost Efficiency Efficiency Change Saving Bank European Banking 
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Copyright information

© Franco Fiordelisi 2009

Authors and Affiliations

  • Franco Fiordelisi
    • 1
  1. 1.University of Rome IIIItaly

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