Mergers and acquisitions: types, principles, historical information and empirical evidence from the Greek banking sector

• Autores: Gerasimos G. Rompotis
• Localización: Aestimatio: The IEB International Journal of Finance, ISSN 2173-0164, Nº. 10, 2015, págs. 32-65
• Idioma: inglés
• DOI: 10.5605/IEB.10.2
• Títulos paralelos:
  • Fusiones y adquisiciones: tipos, principios, información histórica y evidencia empírica del sector bancario griego
• Enlaces
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• Resumen
  • español

    Este artículo describe los tipos y principios fundamentales de las fusiones y adquisiciones, política estratégica adoptada por muchas compañías de todo el mundo en su esfuerzo por expandir su negocio, entrar en nuevos mercados, sectores y países, así como por mitigar la competencia de otros rivales. Además de la descripción de los diferentes tipos de fusiones y adquisiciones, se desglosan las motivaciones que subyacen a tales acciones, junto con los obstáculos y contra-incentivos que pudieran hacer fracasar tales acuerdos, así como se estudia la importante cuestión de su financiación.

    A continuación, se lleva a cabo un breve análisis de las tendencias actuales en el curso de las fusiones y adquisiciones. Posteriormente, el artículo se centra en la ola de recientes adquisiciones en el sector bancario griego, destacando el caso de la absorción del Emporiki Bank por el Alpha Bank. El análisis realizado proporciona cierta evidencia del efecto positivo en el valor de la cartera de los de los accionistas del Alpha Bank provocado por el anuncio de tal absorción

  • English

    This paper describes the types and main principles of mergers and acquisitions, a strategic policy adopted by many firms worldwide in their efforts to expand their business, enter new markets, sectors and countries as well as to mitigate the competition they face from rivals. In addition to the description of the various types of mergers and acquisitions, the motivations behind such actions are broken down along with the obstacles and counterincentives that can lead to the failure of such deals and the significant issue of financing a merger or an acquisition. A brief analysis of the recent trends in international mergers and acquisitions is subsequently provided. The paper goes on to focus on the recent wave of acquisitions in the Greek banking sector by highlighting the case of Alpha Bank’s takeover of Emporiki Bank. The analysis performed provides some evidence of a positive financial effect for Alpha Bank’s shareholders as a result of the announcement of that takeover

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