Mergers and Acquisitions in the International Financial Services Industry - Impacts on Shareholder Wealth Creation and Operating Performance from Three Different Perspectives

• Main Author: Müller, Luisa
• Format: Others
• Language: English; en
• Published: 2011
• Online Access: https://tuprints.ulb.tu-darmstadt.de/2407/3/Luisa_Mueller.pdf; Müller, Luisa <http://tuprints.ulb.tu-darmstadt.de/view/person/M=FCller=3ALuisa=3A=3A.html> (2011): Mergers and Acquisitions in the International Financial Services Industry - Impacts on Shareholder Wealth Creation and Operating Performance from Three Different Perspectives.Darmstadt, Technische Universität, [Ph.D. Thesis]

This thesis analyzes three different perspectives of mergers and acquisitions (M&A) in the international financial services industry and examines the respective impacts on shareholder wealth creation and operating performance caused by these transactions. As a result, three independent studies are performed adducting financial services industry companies as objects of investigation. The first perspective analyzes the geographical impact on cross-border M&A deals comparing ownership stakes acquisitions initiated by international banks from industrialized countries targeting (non-) listed banks in emerging market economies (EME) with those international acquisitions exclusively between industrialized countries. The second perspective accounts for the impact of M&A deals to the financial services industry companies in conjunction with particular kinds of institutional investors, sovereign wealth funds (SWF) and private equity funds. The third perspective evaluates the role of timing at M&A transactions in the financial services industry in the context of a boom phase and the most recent financial crisis.