Impact of the financial crisis on cross-border mergers and acquisitions and concentration in the global banking industry

Salaber, Julie and Rao-Nicholson, Rekha 2016. Impact of the financial crisis on cross-border mergers and acquisitions and concentration in the global banking industry. Thunderbird International Business Review. 58 (2), pp. 161-173. https://doi.org/10.1002/tie.21731

TitleImpact of the financial crisis on cross-border mergers and acquisitions and concentration in the global banking industry
TypeJournal article
AuthorsSalaber, Julie and Rao-Nicholson, Rekha
Abstract

The global banking industry has seen dramatic changes in the past 40 years. Most recently, the financial liberalization of emerging markets and the global financial crisis have significantly impacted the market share of banks worldwide. This article investigates the impact of the 2007–2008 financial crisis on cross-border mergers and acquisitions (M&As) in the banking sector and emphasizes the role of emerging-market banks in the postcrisis consolidation trend. Using M&A data and concentration data over the period 2000–2013, our analysis indicates that the financial crisis had a significant impact on worldwide M&As, especially on the direction of the transactions. Emerging-market banks appear to be major acquirers in the postcrisis period, targeting both neighboring countries and developed economies in Europe. We also observe an increase in bank concentration in developed markets most hit by the financial crisis, especially in the United States and the United Kingdom, whereas bank concentration decreased in emerging markets.

JournalThunderbird International Business Review
Journal citation58 (2), pp. 161-173
ISSN1520-6874
Year2016
PublisherWiley
Accepted author manuscript
Digital Object Identifier (DOI)https://doi.org/10.1002/tie.21731

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