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Full-Text Articles in Business
Wealth Effect Of Mergers & Acquisitions In Emerging Market: A Case Of Pakistan’S Banking Sector, Sana Tauseef, Mohammad Nishat
Wealth Effect Of Mergers & Acquisitions In Emerging Market: A Case Of Pakistan’S Banking Sector, Sana Tauseef, Mohammad Nishat
Business Review
This study investigates the short-term market response associated with the announcement of seven merger and acquisition deals in the banking sector of Pakistan during the period 2003 to 2008 using the event study methodology. The results indicate statistically significant investor reactions around the merger announcements. For individual target and bidder banks, the cumulative abnormal returns (CARs) range from significant positive to significant negative. The combined mean CAR for the bidder group is significant positive and for target group, the mean CAR is significant negative. The mean CAR for the combined banks in the domestic mergers is also positive but is …
Single Point Of Entry And The Bankruptcy Alternative, David A. Skeel Jr.
Single Point Of Entry And The Bankruptcy Alternative, David A. Skeel Jr.
All Faculty Scholarship
This Essay, which will appear in Across the Great Divide: New Perspectives on the Financial Crisis, a Brookings Institution and Hoover Institution book, begins with a brief overview of concerns raised by the Lehman Brothers bankruptcy about the adequacy of our existing architecture for resolving the financial distress of systemically important financial institutions. The principal takeaway of the first section is that Title II as enacted left most of these issues unanswered. By contrast, the FDIC’s new single point of entry strategy, which is introduced in the second section, can be seen as addressing nearly all of them. The …