Market response to announcements of mergers of Canadian financial institutions

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dc.contributor.author Aintablian, Sebouh
dc.contributor.author Roberts, Gordon S.
dc.date.accessioned 2016-05-10T10:58:29Z
dc.date.available 2016-05-10T10:58:29Z
dc.date.copyright 2015 en_US
dc.identifier.issn 1096-1879 en_US
dc.identifier.uri http://hdl.handle.net/10725/3750 en_US
dc.description.abstract This study examines a sample of mergers of Canadian Financial Institutions during the 1990’s to determine whether in-pillar, cross-pillar and foreign mergers are value-enhancing, and to determine possible sources of synergies behind those mergers. It develops testable hypotheses for Canadian FI mergers by synthesizing prior U.S. tests in the context of Canadian institutional arrangements. The overall results support the generality of findings of prior U.S. studies that the average abnormal return for both the acquiring and target firms is positive and statistically significant. This result suggests that acquisitions in the financial industry are, in Canada as elsewhere, driven by value-maximizing motivations. en_US
dc.language.iso en en_US
dc.title Market response to announcements of mergers of Canadian financial institutions en_US
dc.type Article en_US
dc.description.version Published en_US
dc.author.school SOB en_US
dc.author.idnumber 200603708 en_US
dc.author.department Department of Finance and Accounting (FINA) en_US
dc.description.embargo N/A en_US
dc.relation.journal Multinational Finance Journal en_US
dc.journal.volume 9 en_US
dc.journal.issue 2-Jan en_US
dc.article.pages 72-98 en_US
dc.keywords Bank merger announcements en_US
dc.keywords Canada en_US
dc.identifier.ctation Aintablian, S., & Roberts, G. S. (2005). Market response to announcements of mergers of Canadian financial institutions. Multinational Finance Journal, 9(1/2), 72-98. en_US
dc.author.email sebouh.aintablian@lau.edu.lb en_US
dc.identifier.tou http://libraries.lau.edu.lb/research/laur/terms-of-use/articles.php en_US
dc.identifier.url http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2625110 en_US

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