Megamergers in a global economy : causes and consequences
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Bibliographic Information
Megamergers in a global economy : causes and consequences
Quorum Books, 2002
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Includes bibliographical references and index
Description and Table of Contents
Description
Citibank merged with Travelers. Daimler-Benz (Germany) acquired Chrysler (U.S.). In Japan three large banks combined to form the biggest bank in the world. What's going on? Cross-border and domestic megamergers continue to make headlines, but megamergers themselves are not new. What is new is their size. along with the fact that they increasingly occur across national boundaries. What are the consequences? Gup and his panel of distinguished contributors take a careful look. They explain why these combinations are occurring--the liberalization of markets, changes in technology, and the globalization of business generally are some reasons--and the possible results. They find that megamergers are risky--more than half of the cross-border ones do not add shareholder value--and they raise complicated, so far unanswered questions, such as Who's going to bail these failures out when they're supposedly 'too big to fail' but do? Also explored are topics on international regulatory issues and mergers in the banking industry specifically. Drawn from academia, the Federal Reserve, the International Monetary Fund, and the Federal Deposit Insurance Corporation, the contributors to this fascinating, understandable volume bring things into focus and perspective in ways that will be important to academics and practitioners alike.
Table of Contents
Industry Consolidation: The Natural Thing to Do by Benton E. Gup A Century of Mergers and Acquisitions by Carolyn A. Carroll Large Mergers during the 1990s by Johnathan M. Karpoff and David Wessels Big Bank Mergers in the United States: Motivations, Effects Likely Competitive Consequenses by Bernard Shull and Gerald A. Hanweck Megamergers: Causes and Effects--A European (Swiss) Perspective by Rudolph Volkart Mergers "Down Under": An Australian Perspective on Mergers in Financial Services by Ian R. Harper Bank Consolidation in Japan: What Can We Learn from It? by Benton E. Gup Bank Mergers in Spain: Are They Unique? by Benton E. Gup Risk Management Systems for Merging Banking and Casualty/Property Insurance by D. Johannes Juttner Risks Associated with Mega Financial Institutions by Steven A. Seelig and Peter J. Elmer Addressing the Too-Big-to-Fall Problem by Ron Feldman and Gary H. Stern How Some Mergers Go Wrong by Benton E. Gup Index
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