The consequences of mergers on the profitability of Spanish savings banks

  1. Bernad, C. 1
  2. Fuentelsaz, L. 1
  3. Gomez, J. 2
  1. 1 Universidad de Zaragoza
    info

    Universidad de Zaragoza

    Zaragoza, España

    ROR https://ror.org/012a91z28

  2. 2 Universidad de La Rioja
    info

    Universidad de La Rioja

    Logroño, España

    ROR https://ror.org/0553yr311

Revista:
Service Industries Journal

ISSN: 0264-2069

Año de publicación: 2013

Volumen: 33

Número: 2

Páginas: 266-278

Tipo: Artículo

DOI: 10.1080/02642069.2011.601295 SCOPUS: 2-s2.0-84871163285 GOOGLE SCHOLAR

Otras publicaciones en: Service Industries Journal

Resumen

Mergers and acquisitions (M&A) have been frequently justified in terms of value creation or efficiency improvements. Nevertheless, the evidence is not consistent with the existence of benefits in terms of profitability or market value of the firms involved. A distinguishing feature of extant research is that it focuses on the assessment of the consequences of mergers around the time in which the operation takes place, limiting the possibility of observing a complete integration between the merged firms. In this context, the objective of this paper is to evaluate the effects of M&A on the long-run profitability of Spanish savings banks. © 2013 Copyright Taylor and Francis Group, LLC.