Takeover activity among financial mutuals: an analysis of target characteristics
Article Abstract:
The study explored the acquisition process of mutual financial companies in the absence of a hostile takeover market and utilized a combined cross section/time series sample of UK building societies between the period 1981 to 1993. It also investigated the mutual merger process by exploring target characteristics. The study showed that little support for the natural selection mechanism for mutual merger activity, which corresponds to the market for corporate control, but it indicated the significance of the regulatory process on merger activity.
Publication Name: Journal of Banking & Finance
Subject: Business
ISSN: 0378-4266
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
Investment opportunities and corporate demand for lines of credit
Article Abstract:
A model is used to represent the reactions of a risk neutral firm in choosing a line of credit which are influenced by an indefinite future need for cash due to the stochastic arrival of investment opportunities. The firm employs credit lines, which allows quick movement and secrecy, to gain advantages over competitors. Results reveal that credit line demand significantly influences a firm's opportunities for growth but does not seem to be related to unpredictability in its business prospects.
Publication Name: Journal of Banking & Finance
Subject: Business
ISSN: 0378-4266
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
Is there an optimal size for the financial sector?
Article Abstract:
A new study derives a model of the economy using a general equilibrium framework similar to that devised by Holmstrom and Tirole. It is shown that the financial sector has an optimal size independent of the state of the economy, which remains unvaried over the business cycle.
Publication Name: Journal of Banking & Finance
Subject: Business
ISSN: 0378-4266
Year: 2000
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Market globalization and financial market stability: Italy's viewpoint. Roundtable debate. Surveillance, international banking standards and the role of the International Monetary Fund
- Abstracts: Take stock and multiply. It's work and it's fun: Part 1. Can we account for happiness?
- Abstracts: Redundant governance structures: an analysis of structural and relational embeddedness in the steel and semiconductor industries
- Abstracts: Dot-com stampede boosts financial PR, but is jig up? Amster-Young PR. J&C merges with C&C to keep independence in Boston
- Abstracts: Markets send recession warning. Waiting for signs of recession. Recession, what recession?