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- Publisher
- Springer Journals
- Copyright
- Copyright © 2012 by Springer Science+Business Media, LLC
- Subject
- Economics / Management Science; Finance/Investment/Banking; Accounting/Auditing; Econometrics; Operations Research/Decision Theory
- ISSN
- 0924-865X
- eISSN
- 1573-7179
- DOI
- 10.1007/s11156-012-0298-8
- Publisher site
- See Article on Publisher Site
Abstract
Using the non-parametric data envelopment approach, the long-run profit efficiency of nine pre-classified merger deals of merging and non-merging U.S. banks is investigated during the period from 1992 to 2003 for a sample of 359 merger deals. The findings show that, in general, large acquirers have and maintain higher efficiency scores than targets and non-merging banks. The results also show that merger deals that match least efficient acquirers with the least efficient targets could improve their profit efficiency 4 years following the merger event, which is different than all other merger deals. Finally, value-maximizing mergers are determined to be mostly large and match banks with clear opportunities to increase their future efficiency rankings.
Journal
Review of Quantitative Finance and Accounting – Springer Journals
Published: Jun 20, 2012