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Keywords:Bank mergers 

Journal Article
The transformation of banking and its impact on consumers and small businesses

The banking industry has undergone profound changes during the last decade. The most obvious change has been the large number of bank mergers, which have increased both the average size of banks and the area over which they operate. Other changes may also prove dramatic but are at this point just getting under way?the growth of Internet banking and the combination of banking with other financial services, such as insurance and securities underwriting.> The implications of these changes for the profitability and safety of banks have been widely discussed, but what do they mean for local ...
Economic Review , Volume 86 , Issue Q I , Pages 25-53

Conference Paper
On the political economy of banking and financial regulatory reform in emerging markets

Proceedings , Paper 605

Journal Article
Interstate banking and the outflows of local funds

New England Economic Review , Issue Mar , Pages 7-19

Working Paper
Corporate governance structure and mergers

Few transactions have the potential to generate revelations about the market value of corporate assets and liabilities as mergers and acquisitions (M&A). Corporate governance and control mechanisms such as independent directors, independent blockholders, and managerial share ownership are usually important predictors of the size and distribution of the incremental wealth generated by M&A transactions. The authors add to this literature by investigating these relationships using a sample of banking organization M&A transactions over the period 1990-2004. Unlike research on nonfinancial firms, ...
Working Papers , Paper 10-26

Journal Article
Applying the theory of probable future competition

Federal Reserve Bulletin , Issue Sep , Pages 527-534

Working Paper
The effects of megamergers on efficiency and prices: evidence from a bank profit function

This paper examines the efficiency and price effects of mergers by applying a frontier profit function to data on bank ``megamergers.'' We find that merged banks experience a statistically significant 16 percentage point average increase in profit-efficiency rank relative to other large banks. Most of the improvement is from increasing revenues, including a shift in outputs from securities to loans, a higher-valued product. Improvements were greatest for the banks with the lowest efficiencies prior to merging, who therefore had the greatest capacity for improvement. By comparison, the effects ...
Finance and Economics Discussion Series , Paper 1997-9

Discussion Paper
Bank mergers and banking structure in the United States, 1980-98

The U.S. banking industry experienced a sustained and unprecedented merger movement from 1980 to 1998. During that period, approximately 8,000 bank mergers occurred, involving about $2.4 trillion in acquired assets. The 1990s, especially 1994-98, was a period of numerous large bank mergers, including several that were among the largest in U.S. banking history. This study describes various aspects of that bank merger activity and some of the changes in U.S. banking structure and performance that took place during 1980-98. With respect to bank merger activity, the study examines the number and ...
Staff Studies , Paper 174

Journal Article
Changes in Twelfth District local banking market structure during a period of industry consolidation

A main public policy concern regarding the massive consolidation of the banking industry between 1984 and 2003 is the consolidation's potential effect on competition in local banking markets. Examining this period for the Twelfth Federal Reserve District, I find, on the whole, moderate increases in concentration in urban markets and decreases in concentration in rural markets, although a number of local markets have shown large increases in concentration to high levels. However, consistent with antitrust enforcement and competition, I find negative and highly statistically significant ...
Economic Review

Conference Paper
Under what circumstances do bank mergers improve efficiency?

Proceedings , Paper 378

Working Paper
Multibank holding companies and bank behavior

The most dramatic development in banking in recent years has been the rise of bank holding companies. More than 1,750 of these banking operations now control most of America's bank assets and deposits.
Working Paper , Paper 75-01

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