Regulation can foster mergers, can mergers foster efficiency? The Italian case

Journal of Economics and Business

Volumn 50, Issue 2, 1998, Pages 157-169

  Resti, Andrea ^a  

^a UNIVERSITY OF BERGAMO   (Italy)

Author keywords

Bank mergers; DEA; Efficiency; Italian banks

Indexed keywords

EID: 0001469028     PISSN: 00129933     EISSN: None     Source Type: Journal    
DOI: 10.1016/s0148-6195(97)00075-1     Document Type: Article

References (26)

1. Altunbas. Y., Molyneux, P., and Thornton J. 1994. The cost implications of hypothetical bank mergers in Italy. Mimeo. School of Accounting, Banking and Economics, Bangor, UK.
2. Aly. H. Y., Grahowski, R., Pasurka, C., and Rangan, N. 1990. Technical, scale and allocative efficiencies in U.S. banking: An empirical investigation. The Review of Economics and Statistics. LXXII(21):211-218.
3. Akhavein, J., Berger. A., and Humphrey, D. B. 1997. The effects of megamergers on efficiency and prices: Evidence from a profit function. Review of Industrial Organization 12:95-130.
4. Bank of Italy 1997. Relazione Annuale. Roma, maggio.
5. Banker, R. D.. Charnes, A. and Cooper, W. W. 1984. Some models for estimating technical and scale inefficiencies in data envelopment analysis. Management Science 30.1078-1092.
6. Berger. A. N., and Humphrey. D. B. 1992. Megamergers in banking and the use of cost efficiency as an antitrust defense. Antitrust Bulletin 37:541-600.
7. Berger. A. N., and Humphrey, D. B. 1944. Bank scale economies, mergers, concentration and efficiency: The U.S. experience. Working paper 94-25. Financial Institutions Center. The Wharton School. University of Pennsylvania.
8. Charnes, A., Cooper, W. W., and Rhodes, E. 1978. Measuring the efficiency of decision making units. European Journal of Operational Research 2:429-444.
9. Comana, M. Decembes 1995. Crescita Esterna e Performance Bancarie: Analisi di 34 Casi Recenti. Materiali AssBank.
10. Conti, V., Ossanna, M., and Senati, M. 1997. Profili di redditività bancaria in Europa: Alla ricerca del modello vincente. Quaderno n. 152. Associazione per lo Sviluppo degli Studi di Banca e Borsa, Milano.
11. Conti. V., and Resti, A. 1994. What Can Be Learned About Banks' Profitability from Their Financial Statement. Proceedings of the ICCBE annual meeting. Tokyo.
12. Cornett, M. M., and Tehranian, H. 1992. Changes in corporate performance associated with bank acquisitions. Journal of Financial Economics 31:211-234.
13. Cybo Ottune, A., and Murgia. M. 1996. Mergers and Acquisitions in the European Banking Markets. Mimeo. Associazione Bancaria Italiana. Roma.
14. DeYoung, R. 1997. Bank mergers, X-efficiency, and the market for corporate control. Managerial Finance 23:32-47.
15. Färe. R., Grosskopf, S., and Logan, J. 1985. The relative performance of publicly-owned and privately-owned electric utilities. Journal of Public Economics 26:89-106.
16. Hannan. T. H., and Wolken, J. D. 1989. Returns to bidders and targets in the acquisition process: Evidence from the banking industry. Journal of Financial Services Research 3:5-16.
17. Hawawini. G. A., and Swary, I. 1990. Mergers, and Acquisitions in the U.S. Banking Industry. Amsterdam. North-Holland.
18. Lalli, R. Decembes 1996. Fusioni e Acquisizioni nel Settore Bancario: Processi di Inlegrazione e di Performance. Materiali AssBank.
19. Lamandini, M. 1996. La disciplina "speciale" delle fusioni bancarie: Primi appunti. Banca Impresa Società 15(3)347-377.
20. Malavasi, R. 1997. La Ristrutturazione del Sistema Bancario. Milano, Franco Angeli.
21. Peristiani, S. 1997. Do mergers improve X-efficiency and scale efficiency of U.S. banks? Journal of Money, Credit and Banking 29:326-337.
22. Pilloff, S. J. 1994. Performance changes and shareholder wealth creation associated with mergers of publicly traded banking institutions. Working paper 94-10. Financial Institutions Center, The Wharton School, University of Pennsylvania.
23. Resti, A. 1997a. Evaluating the cost-efficiency of the Italian banking system: What can be learned from the joint application of parametric and non-parametric techniques? Journal of Banking and Finance 2:221-250.
24. Resti. A. 1997b. Fallen angels or money pumps? Trying to draw a map of the mam European hanks. Research Papers in Banking and Finance. RP96/17. Institute of European Finance. Bangor.
25. Rhoades, S. A. 1994. A Summary of Merger Performance Studies in Banking, 1980-93, and an Assessment of the "Operating Performance" and "Event Studies" Methodologies. Staff Studies, Federal Reserve Board.
26. Vander Vennet, R. 1996. The effect of mergers and acquisitions on the efficiency and profitability of EC credit institutions. Journal of Banking and Finance 20(9): 1531-1558.