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The purpose of this research is to investigate the future of the country’s banking management system due to the merger of banks. The research strategy in the qualitative part of the research is a library study and in the quantitative part of the research, it is a survey type. The current research in terms of practical purpose and in terms of how to collect information; it is a field. The statistical population consists of all the university and banking experts of West and East Azerbaijan province, whose number is equal to 440 people, and using Cochran’s formula, the sample size is equal to 205 people. The random sampling method is simple and in order to collect information from library resources, as well as in order to collect data and information for analysis, a questionnaire made by the researcher was used, and all analyzes were done using software SPSS software was used, which according to the results of prioritizing the opinions of the sample about the merger of banks in the future, in the banking management system of West and East Azarbaijan province, showed that the items ”culture management, stress management, human resource reconstruction, resistance to change, insecurity ”Jobs, draining talents, lack of motivation are among the challenges in merging banks in the future.” With the average (3.52) and coefficient of variation (cv=0.288), the item ”successful transfer of management depends on changing the management structure in accordance with the functional requirements after the merger and creating the necessary infrastructure based on solving the previous problems.” With the mean (3.35) and coefficient of variation (cv=0.300), the item ”In the integration process, some employees with less skill, less talent or less commitment may not be employed in the new group; ”Trying to employ them in subsidiary companies or other work environments and reducing the stress of job loss among them is another important step in managing change in bank mergers.” With the average (3.33) and coefficient of variation (cv = 0.334), respectively, they play the biggest role in the causes of bank mergers in the future. [ABSTRACT FROM AUTHOR]

Purpose: The present study aims to comprehensively examine the impact of the Union Bank of Switzerland (UBS) takeover of Credit Suisse on the banking and financial services sector in the Indian stock market. To fully comprehend the impact of the event, the study separately investigates the response of private sector banks, public sector banks, overall banking companies and financial services companies to the takeover of the second-largest financial institution in Switzerland. Design/methodology/approach: The study employs event study methodology, using the market model, to analyze the event's impact on Indian banking and financial services sector stocks. The data consists of daily closing prices of companies included in the Nifty Private Bank Index, Nifty PSU Bank Index, Nifty Bank Index and Nifty Financial Services Index from the National Stock Exchange (NSE). Furthermore, cross-sectional regression analysis has been conducted to explore the factors that drive abnormal returns. Findings: The empirical findings of the study suggest the event had a heterogeneous impact on the stock prices of Indian banks and financial services companies. While public sector banks experienced a significant negative impact on select days within the event window, the overall Indian banking sector and financial services companies also witnessed notable declines. In contrast, Indian private sector banks were relatively resilient, exhibiting minimal effects. However, the cumulative effect is found to be insignificant for all four categories across different event windows. The study also observed that the cumulative abnormal returns (CARs) were significantly influenced by certain variables during different event windows. Originality/value: To the best of the authors' knowledge, the present study is the earliest attempt that investigates the impact of the UBS takeover of Credit Suisse on the Indian banking and financial services sector using event study methodology and cross-sectional regression model. [ABSTRACT FROM AUTHOR]

The global financial crisis of 2007–2009 is widely regarded as the worst since the Great Depression and threatened the global financial system with a total collapse. This article distinguishes itself from the vast literature of bankruptcy, bank failure, and bank exit prediction models by introducing novel categorical parameters inspired by Switzerland's banking landscape. We evaluate data from 274 banks in Switzerland from 2007 to 2017 using generalized linear model logit and multinomial logit regressions and examine the determinants of corporate restructuring and financial distress. We complement our results with a robustness test via a Bayesian inference framework. We find that total assets and net interest margin affect bank exit and mergers and acquisitions, and that banks operating in the Zurich area have a higher likelihood of exiting and becoming takeover targets relative to banks operating in the Geneva area. [ABSTRACT FROM AUTHOR]

The present paper examines the reasons that caused the fall of Dena Bank, which led to its merger with Bank of Baroda and Vijaya Bank (the merged bank is now known as Bank of Baroda). This paper measures the extent of deviations in financial performance and profitability of Dena Bank from 2007–08 to 2017–18. The findings of the study indicate that increasing non-performing assets and costs adversely impact the financial position of the fallen bank (Adhana, D., and Raghuvanshi, R. R. 2020. Big Bank Theory: A Study of Amalgamation Plan of 10 Public Sector Banks into 4 Entities. Available at SSRN 3559291). Further post-merger analysis from 2018–19 to 2021–22 shows that Bank of Baroda eventually incorporated the changes well. The finding would be helpful to investors, practitioners, academics, and policymakers to check the financial position of the bank to gain insights into the financial health of the bank and causes that led to its merger (Patel, R. 2018. Pre & post-merger financial performance: an Indian perspective. Journal of Central Banking Theory and Practice 7 (3): 181–200.). [ABSTRACT FROM AUTHOR]

Copyright of FinanzRundschau is the property of De Gruyter and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This study focuses on the Capital Gain of residential housing and its feasibility through bank financing in Hermosillo, Sonora. The purpose is to analyze the evolution of capital gain in the residential market and assess its possibility of acquisition through bank financing in the region. The main methodology includes a historical analysis of housing prices and a comprehensive evaluation of the current financing conditions provided by local banks. Key findings highlight a sustained increase in the capital gain of residential properties in Hermosillo. Economic and developmental factors have contributed to this constant growth. Furthermore, it has been proven that bank financing is a viable alternative for those interested in acquiring homes in this area. The capital gain in Hermosillo presents a promising outlook for both investors and buyers alike. The upward trend in housing prices, supported by favorable conditions in the local economy and urban development, highlights the potential for investment in the region. The availability of bank financing further facilitates access to the acquisition of residential properties, making it appealing for those seeking to invest in real estate in Hermosillo. In conclusion, this study underscores the viability of acquiring residential properties through bank financing and emphasizes the importance of considering capital gain as a valuable indicator in real estate decision-making in Hermosillo, Sonora. [ABSTRACT FROM AUTHOR]

This paper analyzes the soundness of government-owned Islamic banks before and after a merger. The research variables consist of Risk Profile as measured by Non-Performing Financing (NPF) and Financing to Deposit Ratio (FDR), Good Corporate Governance as measured by Net Open Position (NOP), Earnings as measured by Return on Assets (ROA), Return on Equity (ROE)) and Operational Efficiency Ratio (OER), and Capital as measured by the Capital Adequacy Ratio (CAR). Three government-owned Islamic banks before merger, namely Bank Rakyat Indonesia (BRI) Sharia, Bank Negara Indonesia (BNI) Sharia, Bank Sharia Mandiri (BSM) and one bank after merger namely Bank Sharia Indonesia (BSI) were selected as research objects. The study uses secondary data for the first quarter of 2019 to the third quarter of 2022. The hypothesis was tested with the Paired Sample T-Test and the Wilcoxon Signed Rank Test. The results show that the ratios of NPF, NOP, ROA, ROE, and OER have significant differences before and after the merger. Meanwhile, the ratios of FDR and CAR have no significant difference before and after the merger. This condition indicates that the ability of Islamic banks to manage FDR and CAR is quite good and remain in the soundness category before and after the merger. This study concludes that some of the soundness ratios of government-owned sharia banks are better after the merger. However, there are two ratios that are not significantly different either before or after the merger. The implication of this research is that the ability of the manager of a government-owned Islamic bank in managing the soundness of a bank greatly determines the sustainability of an Islamic bank. For further research, it is suggested to add the timeframe of the research. [ABSTRACT FROM AUTHOR]

This paper examines capacity-constrained oligopoly pricing with sellers who seek myopic improvements. We employ the Myopic Stable Set solution concept and establish the existence of a unique pure-strategy price solution for any given level of capacity. This solution is shown to coincide with the set of pure-strategy Nash equilibria when capacities are large or small. For an intermediate range of capacities, it predicts a price interval that includes the mixed-strategy support. This stability concept thus encompasses all Nash equilibria and offers a pure-strategy solution when there is none in Nash terms. It particularly provides a behavioral rationale for different pricing patterns, including Edgeworth price cycles and states of hyper-competition with supply shortages. We also analyze the impact of a change in firm size distribution. A merger among the biggest firms may lead to more price dispersion as it increases the maximum and decreases the minimum myopically stable price. [ABSTRACT FROM AUTHOR]

We study human capital synergies in asset management mergers that stem from the improved ability to assign fund managers to more specialized tasks in larger firms. More specialized task assignment allows rotated managers to focus on their investment expertise and leads to incremental $54 million of value added per deal per year on average. The effects are concentrated in mergers that lead to a large increase in firm size and in funds whose management appears less specialized prior to the merger. Our results provide direct evidence on the role of firms in the assignment of tasks to fund managers. (JEL G23, J24, G34) [ABSTRACT FROM AUTHOR]

Increases in government debt are associated with a reduction in the yield spread between high-grade corporate bonds and long-term Treasuries and an increase in fiscal uncertainty. Consequently, increases in government debt significantly reduce the firm's likelihood of acquisition. The effect is stronger among firms whose debt is a closer substitute for Treasuries and firms with greater exposure to fiscal uncertainty. A positive change in government debt motivates acquirers to avoid cash financing or more irreversible deals. The average deal quality is lower during periods of rising public debt, consistent with heightened fiscal uncertainty impeding monitoring and fostering "bad" deals. (JEL D80, E22, E62, G18, G34, G38). [ABSTRACT FROM AUTHOR]

This study investigates the consequences of bank mergers on non-financial borrowers' working capital management. We find evidence that bank mergers increase corporate cash holdings and decrease receivables and investments in inventories by reducing bank credit availability. Bank mergers also decrease trade credit used through the reduction in bank credit availability. These findings are new contributions to the literature, suggesting that borrowing firms find it more difficult to manage working capital after bank mergers occur and that bank-dependent firms find it more difficult to manage working capital than their non-dependent counterparts after mergers. [ABSTRACT FROM AUTHOR]

In this study, we analyze the effect of a merger between banks by extending a structural model of the banking industry with the possibility of bank runs developed by Egan et al. (2017; American Economic Review, 107, 169–216). We use our framework to analyze whether the 2008 merger between Wells Fargo and Wachovia was beneficial for social welfare. The results suggest that the stability of the financial system is critical for evaluating mergers in the banking industry. [ABSTRACT FROM AUTHOR]

This article begins by examining contemporary theories of imperialism, then highlights the relevance of older interpretations. As a matter of fact, Lenin's theory—especially when he speaks of a "merger of banking capital and industrial capital," anticipates the direct and indirect role played by financial capital in the export of capital by the center to the periphery. Such export reinforces the drainage of surplus value towards the center through the double process of unequal exchange and overexploitation. The article then returns to Marx who maintains that imperialism could be explained by the downward trend in the profit rate in developed countries, when the latter do not find enough means to counteract it at home and look for new ones through colonization and international trade. Marx suggests another counter-trend which is confirmed today: the transfer of productive work to the periphery, because only productive labor creates value. The article finally focuses on the case of China, by asking: How was it able, unlike other countries and despite unequal exchange, to benefit from foreign investments, thus to emancipate itself from imperialism? And what does it do in turn to help other underdeveloped countries develop without subjugating them? [ABSTRACT FROM AUTHOR]

It is well‐established in the literature that a horizontal merger in a supply chain is profitable (or beneficial to firms at another tier) if the merger synergy exceeds some threshold referred to as the profitable (or beneficial) threshold. Our paper goes one step further by finding that the profitable threshold is always lower than the beneficial threshold, which implies that a firm may have an incentive to prevent a horizontal merger between its suppliers or customers, but never wants to precipitate one. Moreover, we propose a strategy to achieve the preventive goal—a firm can develop an instrumental merger option with another rival firm, which can help prevent the target merger in one of two ways. First, if the synergy of the instrumental merger is high relative to the synergy of the target merger, the firm can carry out the instrumental merger—even an unprofitable one—preemptively to make the target merger unprofitable. Second, if the synergy of the target merger is not too high and the synergy of the instrumental merger is moderate, that is, the instrumental merger is profitable and will inflict severe harm on the firms in the target merger, the firm can reserve the instrumental merger option as a deterrent and the profitable target merger is deterred. An interesting implication of the deterrent role of the instrumental merger option is that when the firm has two candidate merger partners, it may choose the partner with a lower synergy for the deterrence purpose. [ABSTRACT FROM AUTHOR]

This study aims to determine the influence of change management, organizational culture, and transformational leadership on the performance of Bank Syariah Indonesia employees. This study uses a quantitative approach with an explanatory research type. The data collection method uses questionnaire dissemination. The population used in this study was employees of Bank Syariah Indonesia, amounting to 100 people. Still, in the dissemination process, questionnaires were obtained again and then reduced to 78 questionnaires. The method to process data is SEM (Structural Equation Model), which uses AMOS software version 24.0 as a tool. Based on the results of the goodness of fit criteria analysis, after modification, indices obtained χ2: 334.059 with P=0.05, CMIN / DF: 1.114 (=2.00), RMSE: 0.038 (=0.08), GFI: 0.805 (=0.90), NFI: 0.874 (=0.90), TLI: 0.978 (=0.90), IFI: 0.985 (=0.90). The goodness of fit criterion is in good condition, where after modification, indices can see a decrease in the value of chi-square offset by an increase in other criteria. This explains that modifying indices improves the goodness of fit criteria in good condition. The results of this research analysis include (1) change management has a significant influence on transformational leadership; (2) organizational culture has no influence on transformational leadership; (3) change management has a significant influence on employee performance; (4) organizational culture has a significant influence on employee performance; (5) Transformational leadership has no significant effect on employee performance; (6) transformational leadership has no mediating influence on change management and employee performance; (7) Transformational leadership has no mediating influence on organizational culture and employee performance. [ABSTRACT FROM AUTHOR]

Purpose: This study aims to explore the effect of chief executive officer education on firms' action timing and acquisition performance in industry merger waves. In addition, this study investigated the moderating influence of CEO duality and firm cash flow on the relationship between education and entry timing. Design/methodology/approach: Following the methodology for determining merger waves in previous studies, the authors identified 16 industry merger waves of Chinese listed firms from 2008 to 2019. Multiple linear regression was employed to examine the hypotheses. Findings: The results showed that higher CEO education was associated with early participation in merger waves. CEO duality negatively moderated the education-entry timing relation. The effect of CEO education on entry timing was more pronounced when firms had higher cash flow. Moreover, more educated CEOs materially enhanced acquisition performance in merger waves. Originality/value: Entry timing in industry merger waves has important implications, as early movers establish competitive advantages and achieve higher acquisition performance. However, the managerial characteristics determining entry timing have not received adequate attention. Meanwhile, studies examining the effect of CEO education on acquisitions are limited. This study explored the effect of CEO education on firms' entry timing and acquisition performance in merger waves, thereby contributing to the literature on merger waves and managerial characteristics. This study's findings regarding the moderators of the education-entry timing relation enrich the literature on corporate governance and agency theory. [ABSTRACT FROM AUTHOR]

For the first time in decades, bank merger policy stands at a crossroads. Amidst a new and wide-ranging antimonopoly movement, concerns regarding concentrated financial power and the structure of the American banking system have taken center stage. Following calls for public comment on revising the 1995 Bank Merger Competitive Review Guidelines by the Department of Justice, internal discord over reform efforts at the Federal Deposit Insurance Corporation (“FDIC”), and the failure of numerous regional banks, a fundamental reassessment of the law governing bank mergers and acquisitions is firmly underway. While some policy-makers and scholars have argued that antitrust law should play a larger role in preventing consolidation in the financial sector, this Article employs the methodology of legal history to emphasize the limits of reviving antitrust in banking. Excavating the origins and evolution of the Bank Holding Company Act (the “BHCA”) and the Bank Merger Act (the “BMA”), which govern regulatory oversight of bank mergers, reveals that an expansive conception of the public interest extending well beyond the bounds of antitrust doctrine guided the bank merger regime in its formative early years. By retracing the legislative, administrative, and judicial interpretations of the public interest approach to bank mergers, this Article foregrounds an alternative, and historically potent, mechanism through which to combat banking consolidation. Ultimately, the complex history of the BHCA and BMA provides an important reminder that while antitrust has long served as a critical weapon in the battle against concentrated economic power, it has not been the only weapon. As the future of bank merger policy hangs in the balance, a turn to the past may therefore yield a more promising way forward. [ABSTRACT FROM AUTHOR]

Using a dataset on syndicated loan primary market pricing adjustments, we examine whether relationship banks' information advantage facilitates price discovery in loan issuances. We find that the lead bank makes fewer adjustments to the initial pricing terms of a syndicated loan and shortens the syndication time when it has a stronger relationship with the borrower. A stronger relationship also reduces loan underpricing. A relationship lead bank relies less on information from syndicate members. Exogenous shocks to relationships caused by bank mergers and closures confirm our findings. We contribute to the literature by showing that relationship lending improves loan pricing efficiency. This paper was accepted by Victoria Ivashina, finance. Supplemental Material: The online appendix and data are available at https://doi.org/10.1287/mnsc.2023.4730. [ABSTRACT FROM AUTHOR]

This paper investigates ex-ante factors influencing international bank acquisition of FinTech companies from 2010–2018. Using hand-collected data, we show that bank boards with a larger female presence as well as those that have CEOs with longer tenure are more likely to pursue FinTech acquisitions. The financial performance also matters as banks with greater capital strength and liquidity are more likely to be acquirers. In line with prior expectations, banks with higher IT spending, suggesting greater in-house development of digital solutions, are less likely to target FinTech acquisitions. In addition, younger CEOs and banks with lower IT spending are also found to be more likely to make multiple FinTech acquisitions. The nationality diversity in the boardroom matters for cross-border bank-FinTech deals. [ABSTRACT FROM AUTHOR]

Copyright of Zeitschrift für Bankrecht und Bankwirtschaft is the property of De Gruyter and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This paper introduces the significance of international music preferences as a determinant of cross-border mergers. We argue that international music preferences capture the distance in culture between nations. We find that country pairs whose citizens experience relatively small distance in their music preferences (listen to each other's music) exhibit more cross-border mergers. Overall, this study highlights that music preferences can measure international similarities in culture. [ABSTRACT FROM AUTHOR]

We show that banking relationships promote corporate environmental, social, and governance (ESG) policies. Specifically, banks are more likely to grant loans to borrowers with ESG profiles similar to their own and positively influence the borrower's subsequent ESG performance. Their influence is more pronounced when (1) banks have significantly better ESG ratings than borrowers and (2) borrowers are bank dependent. We exploit M&A among lenders as a source of quasi-exogenous variation in the lender's ESG standard to alleviate endogeneity concerns. Overall, our study presents the first evidence on the interplay between responsible bank lending and borrowers' ESG behavior. [ABSTRACT FROM AUTHOR]

This article aims to discuss the several financialization strategies used by sugarcane industry in Brazil, such as banking credit acquisitions, issuance of debt securities, IPO on the stock exchange and speculation in the commodities market. In recent years, agents of the sugarcane sector have been increasingly to access different ways of capitalization to inflate their assets and make productive and speculative investments. The context is part of the hegemony of financial capital over the political economy of the market and large firms, resulting in growing influence on corporate decisions. Thus, it is observed that globalized agribusiness is one of the economic activities that has been having narrow relations with the financial agents to expand the process of capital accumulation, increasing even more the investors' wealth levels. [ABSTRACT FROM AUTHOR]

NZ Golf was established after a merger of the Women's Golf Association and (men's) New Zealand Golf in 2005. The purpose of the study was to examine (1) the gendering of the negotiations and, (2) the implications of the gendered negotiations on the establishment of NZ Golf. We situate our research in the socio-political context of mergers, incorporating gender into organisational literature focussing on their strategic, financial, and integration dimensions. Semi-structured interviews with key female and male stakeholders were informed by document analysis. Findings revealed that the financial and strategic elements of mergers were gendered, and that the gendered integration stage had implications for the for the establishment of the new organisation. The influence of gender fluctuated throughout the merger process. We argue for future research in this area for further research on intersectionality in sport organisations. We encourage managers to understand how gender relations are historically embedded in sport organisations to understand their contemporary state. We call for managers to consider support might be required for future negotiations. We contribute understanding of gender relations in contemporary sport organisations by examining gendered negotiations and their implications. [ABSTRACT FROM AUTHOR]

In "Identifying Merger Opportunities: The Case of Air Traffic Control," N. Adler, O. Olesen, and N. Volta propose a model to identify an optimal horizontal merger configuration at the level of an industry or firm with multiple branches. Assuming that each firm operates within a catchment area or owns part of a network, we extend the model to consider feasible mergers that cover a contiguous area, should network effects be a consideration. An application to the European air traffic control system suggests that four contiguous air navigation service providers should replace the current 29 providers and the nine functional airspace blocks proposed in the Single European Skies initiative. The technological developments in air traffic management in which regulators on both sides of the Atlantic have invested heavily, namely SESAR and NextGen, are unlikely to be used without a concomitant reduction in operating costs through economies of scale. We find that the politically oriented solution may save around one third of current costs, but an optimal solution will save closer to 46%. Horizontal mergers and acquisitions offer firms the means to grow. However, forecasting these actions' potential effects on the market is not a simple task. We propose a model that identifies optimal horizontal merger configurations for an industry. The model endogenizes the merger choice by maximizing the overall potential efficiency gain at the level of an industry or firm with multiple branches. We further extend the model to consider mergers that create contiguous firms, should network effects be a consideration. The optimal solution, estimated as a consequence of a change in industry structure, is decomposed into individual learning inefficiencies in addition to harmony and scale effects. The efficiency gains are estimated using a nonradial, directional distance function to facilitate this decomposition. An application of the model to the European air traffic control market suggests that the market ought to be reduced to 4 contiguous firms, replacing the 29 analyzed and the 9 proposed in the Single European Skies initiative. This is likely to lead to overall savings of around €3.3 billion annually, of which approximately 82% is directly attributable to merger synergies. Furthermore, this represents an additional annual saving of €1.2 billion over that achieved by the second best: the Single European Skies initiative. Funding: N. Adler received partial funding from the Asper Center for Entrepreneurship at the Hebrew University Business School. [ABSTRACT FROM AUTHOR]

Network effects are often used to justify platform strategies such as acquisitions and subsidies that aggregate users to a single dominant platform. However, when users have heterogeneous preferences, a single platform may not be as effective as multiple platforms from both a strategic perspective and an antitrust perspective. We study the role of network effects and platform differentiation in the context of a merger between the two largest platforms for pet-sitting services. To obtain causal estimates of network effects, we leverage geographic variation in premerger market shares and employ a difference-in-differences approach. Our results reveal that although users of the acquiring platform benefit from the merger thanks to network effects, those of the acquired platform are comparatively worse off because their preferred option is removed. Network effects and differentiation offset each other such that at the market level, users are not substantially better off with a combined platform than with two separate platforms. These findings have strategic and regulatory implications as well as highlight the importance of platform differentiation even in the presence of network effects. This paper was accepted by Alfonso Gambardella, business strategy. Supplemental Material: The data files and online appendix are available at https://doi.org/10.1287/mnsc.2023.4675. [ABSTRACT FROM AUTHOR]

Antitrust policymakers in the United States and the European Union have announced that certain mergers should be blocked because of the presumed harm to innovation. Companies increasingly engage in innovation as a primary means of competing with rivals. This article considers the implications of innovation competition for antitrust merger policy. We argue that the presumption of innovative harm risks diminishing competition and reducing innovation. We propose an approach to evaluating whether mergers may lead to innovative efficiencies or harm. Furthermore, we suggest that the application of advances in the economics of technology and innovation can help determine the effects of mergers on welfare. We find that horizontal mergers can promote innovation competition by increasing innovative investment and expanding the benefits of innovation. We also find that vertical mergers can promote innovation competition by increasing innovative investment and improving commercialization. We further find that acquisition of entrants can increase entrepreneurship and innovation. We recommend that the Department of Justice and Federal Trade Commission Merger Guidelines should apply economic analysis to evaluate the effects of mergers on innovation competition. [ABSTRACT FROM AUTHOR]

This study investigates the regional differences in how consolidation has affected the efficiency of Shinkin banks, a representative cooperative financial institution in Japan, using the stochastic meta‐frontier approach based on cost and profit functions. The findings support the quiet life hypothesis that a significant negative relationship exists between efficiency‐adjusted Lerner indices and cost efficiency. By contrast, the relation between market power and profit efficiency is consistently positive. Moreover, independent Shinkin banks not involved in mergers exhibit higher costs and profit efficiency than other banks, suggesting that mergers can deteriorate efficiency. [ABSTRACT FROM AUTHOR]

The bail‐out of the Spanish financial system was the largest in the Eurozone. The Spanish savings banks were the main direct recipients of public support between 2010 and 2012 and most of the bail‐out money was transferred to the savings banks after a series of mergers and acquisitions were completed among these entities. This article analyses the evolution of the savings banks in the years of economic growth preceding the crisis and their performance in the early aftermath of the 2007 crash using previously unexplored data from the annual financial statements of the 45 savings banks. We conclude it is possible to observe distinct behaviours among the savings banks during the boom years and we estimate the largest part of the bail‐out money corresponds to losses registered by a small number of savings banks that were already severely impaired before the merger process got under way. [ABSTRACT FROM AUTHOR]

The article provides an overview of the regulatory developments and sectoral activity in Irish merger control in 2023. It discusses the Competition (Amendment) Act 2022, which grants new powers to the Irish national competition authority, the Competition and Consumer Protection Commission (CCPC). The Act allows the CCPC to require parties to notify their transaction if it may have an effect on competition, even if it does not meet the mandatory notification thresholds. The article also highlights the CCPC's merger control activity in 2023, including the number of notifications received and determinations issued. It concludes by mentioning the introduction of Ireland's new Screening of Third-Country Transactions Act 2023, which will allow the review of certain transactions involving foreign direct investment. [Extracted from the article]

The article discusses the United Kingdom's Competition and Markets Authority's (CMA) decision to block the proposed acquisition of Figma by Adobe. The CMA concluded that the merger would result in a significant loss of competition, specifically in the market for all-in-one product design software. The CMA applied the theory of dynamic competition, which focuses on the potential for future competition, to assess the impact of the merger. The European Commission also reached a similar conclusion, referring to the merger as a "reverse killer acquisition." The article highlights the importance of considering dynamic competition in merger assessments and suggests that parties involved in potential transactions should carefully consider their actions to avoid negative implications from competition authorities. [Extracted from the article]

Merger‐specific efficiencies alleviate anticompetitive concerns of horizontal mergers. However, organizational challenges inherent in mergers pose a threat to achieving these efficiencies and could negatively impact the merged firm's productivity and market outcomes. We separately measure the organizational and strategic effects of mergers on quality provision using administrative data from the US airline industry, leveraging an industry‐specific regulation. We find that organizational challenges (e.g., combining workforces) cause a significant reduction in the quality supplied by a merged firm. In contrast, strategic effects (e.g., market strategy) have a minor impact on quality. Also, we find that a merger can reduce the performance of both merging firms. Our results suggest a merger's organizational challenges create uncertain efficiency gains. [ABSTRACT FROM AUTHOR]

We study sequential mergers under incomplete information where the follower is ignorant about the leader's merger synergy. When the follower's own synergy is sufficiently large, incomplete information induces both firms to merge more. These additional mergers benefit both firms and total welfare but hurt consumers. If the follower's synergy is very small, the leader is unable to take any strategic action, and most results are reversed. The analysis suggests that incomplete information strengthens the strategic complementarity between the two mergers and thereby increases the likelihood of a merger wave. [ABSTRACT FROM AUTHOR]

Human resources are one of the main aspects of an organization. Having quality resources can affect the success of an organization. Therefore, companies need to improve employee performance, one of which is by making organizational changes. This study aims to determine the effect of organizational change on employee performance moderated by self-efficacy and affective commitment. This research applied a qualitative method, and the questionnaire data involved 155 respondents from an unlimited total population. The analysis used in this study is the Structural Equation Modelling (SEM) method based on variance, namely Partial Least Square (PLS). The results of the study showed a significant effect between organizational change and employee performance. The affective commitment variable was also able to moderate the effect of organizational change on employee performance, while self-efficacy was not able to moderate the effect of organizational change on employee performance. [ABSTRACT FROM AUTHOR]

This paper attempted to examine the concentration and the degree of market power in the Indonesian Islamic Bank Industry during the pre and post-Bank Syariah Indonesia mega-merger. However, using the Strategic Tripod concept, this paper explored the response of the competitor pursuant to the merger. This paper used two main secondary data sources, which were 2 quarterly financial reports before the merger and 1 quarterly financial report after the merger of 34 Islamic bank data, and applied the Herfindhal-Hircsmann Index and Concentration Ratio of the top 5 Islamic banks. This paper discovered that the concentration ratio was at a moderate level. Moreover, based on the CR5 calculation result, Islamic banks have an oligopoly market structure. As for the response to the mega-merger, this paper divides 34 islamic banks into 3 clusters which are full-fledged Islamic banks (Bank Umum Syariah), Private Owned Islamic Subsidiary (Unit Usaha Syariah), Province Owned Islamic Subsidiary (Unit Usaha Syariah Bank BPD). Based on the strategic tripod, the strategy of the Islamic full-fledged bank orchestrates resources to win the competition. The privately owned Islamic Subsidiaries are taking advantage of their resource sharing with their parents. Meanwhile, the Province Islamic subsidiary's strategy relies on the regulations determined by the bank shareholders, who, in this case, are the government province. [ABSTRACT FROM AUTHOR]

Market changes may lead enterprise groups to conduct a series of systematic mergers and acquisitions for specific purposes in order to obtain the resources needed by the enterprise. This study explores the motives of M&A from different angles and whether the expected M&A benefits can be achieved and analyzes whether the M&A cases brought benefits to the business groups successfully through a number of financial indicators and stock price performance. The research results found that if the information is asymmetric or the information is hidden, the wealth effect will not be obtained. [ABSTRACT FROM AUTHOR]

In the UK, following the enactment of the Communications Act 2003, amending the Enterprise Act 2002, the assessment of mergers involving broadcaster and/or newspaper enterprises is subject to – alongside the regular competition standard under the 'substantial lessening of competition' (SLC) test – a public interest standard. Under this standard, certain media mergers need to be assessed pursuant to the following considerations: media plurality, broadcasting standard objectives and free expression of opinion grounds. While the statute defines these terms ambiguously, it does provide guidance to the Secretary of State, the competition authority and the courts to decide how the statute is intended to be applied consistently. The paper will analyse how the media plurality test has been applied, some of the considerations of the CMA and OFCOM, and in doing so it will touch on the discretion of the decision making stakeholders. [ABSTRACT FROM AUTHOR]

LinkedIn is an effective tool for recruiting and networking. Job seekers can participate in industry-related conversations, interact with professionals in their sector, and establish engaging profiles. They can also follow businesses that interest them and look for job openings. LinkedIn gives recruiters and companies a place to advertise job openings, highlight company cultures and locate and engage with applicants via tools like LinkedIn Recruiter. It's a go-to place for people and businesses in the professional sector since it's an excellent tool for establishing business relationships and streamlining the recruiting process. The purpose of this conceptual study is to investigate and comprehend how Human Resources (HR) professionals use LinkedIn networking tools to find the best candidates for positions in the Banking sector.LinkedIn has become a vital recruitment tool at a time of digital transformation and heightened competition for top people. The goal of this study is to identify the approaches and techniques HR specialists in the banking industry use to make use of LinkedIn's networking features, which include corporate pages, job listings, and applicant searches. In addition to examining the potential and difficulties that come with this strategy, the research will look into how much it helps recruit competent personnel. This study intends to provide insightful information on how LinkedIn is used in the banking industry's hiring process. By doing so, it hopes to improve HR procedures and the process of choosing and onboarding qualified individuals in a cutthroat market. [ABSTRACT FROM AUTHOR]

In this article, we investigate what kind of institutions affect bank ownership transformations in a post-transition economy. We use statistical data concerning mergers and acquisitions in the Polish banking sector over the thirty years since the political transformation. Our results indicate the significant role of political and cultural institutional dimensions in stimulating ownership transformation. The importance and current deficits in explaining Polish banking ownership transformations are evaluated through institutional analysis, emphasising the path dependence role and the critical junctures that influence the development of institutions. Identifying which institutions matter the most is crucial for post-reform economies when selecting the most effective policies. Classification codes G21, G32, G34 [ABSTRACT FROM AUTHOR]

This paper attempts to explore the motives behind merger and acquisition strategy of Indian corporates. Covering the domestic activity over two decades, 1998--2017, the firm-level determinants of acquiring and acquired firms are studied to analyze the merger motives. The results from Logit and discrete-time hazard model show that firms with higher technological and financial productivity are more likely to go for acquisitions. On the other hand, firms that have potential to grow in the future but are struggling at present owing to low profits or losses are more likely to be acquired. The managements of firms that are not actively involved in research activities are also likely to be replaced. The findings of the article, therefore, suggest that Indian firms are using mergers for expansionary and efficiency-enhancing motives. [ABSTRACT FROM AUTHOR]