Title:

Performance changes around banks mergers and acquisitions: evidence from Poland

Group publication title:

Financial Sciences. Nauki o Finansach

Title in english:

Zmiany w wynikach działalności banków jako efekt fuzji i przejęć: przykład Polski

Creator:

Budny, Katarzyna ; Krasodomska, Joanna ; Świetla, Katarzyna

Subject and Keywords:

banks ; M&A ; Poland ; ROAA ; ROAE ; banki ; fuzje i przejęcia ; Polska

Description:

Financial Sciences. Nauki o Finansach, 2019, vol. 24, no. 2, s. 28-45

Abstrakt:

This study investigates the influence of M&A on the performance of banks operating in Poland. We use a sample of 14 transactions that occurred in the Polish banking sector from 2001 to 2015. Our data set includes pre and post-merger accounting information covering a period of two years before and after the merger. We follow Pilloff’s [1996] approach to determine the average performance changes measured with ROAA and ROAE. According to the research results, M&As transactions seem to affect profitability as both ROAA and ROAE means change. However, these changes do not follow the same trend. The correlations between the acquirer’s pre-merger weighted performance measured with ROAA and ROAE and merger-related changes in performance are significant and negative. The same situation is observed as regards the target pre-merger weighted performance measured with ROAE and merger-related changes in performance. The results also suggest that large acquirers are associated with less successful M&A

Publisher:

Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu

Place of publication:

Wrocław

Date:

2019

Resource Type:

artykuł

Resource Identifier:

doi:10.15611/fins.2019.2.03

Language:

eng

Relation:

Financial Sciences. Nauki o Finansach, 2019, vol. 24, no. 2

Rights:

Pewne prawa zastrzeżone na rzecz Autorów i Wydawcy

Access Rights:

Dla wszystkich zgodnie z licencją

License:

CC BY-NC-ND 3.0 PL

Location:

Uniwersytet Ekonomiczny we Wrocławiu