Published in:The 2nd International Conference on Finance, Banking and Financial Stability - 2nd SMARTFAB and 5th SMICBES Joint Conference, Bali, ID July 2018
Extent:
1 Online-Ressource (54 p)
Language:
English
DOI:
10.2139/ssrn.3112238
Identifier:
Origination:
Footnote:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments October 31, 2017 erstellt
Description:
Foreign Banks have engendered followers and detractors in each host dispensation and in their home countries. After the recent bank crisis they continue increasing their presence in Asian and Emerging markets (Claessens and Horens, 2014), yet activity in Markets for Corporate Control has been seemingly confounded because of the crisis events. In the Markets for Corporate Control, there is considerable evidence of attenuation in both Emerging and Advanced Economies. Yet, Cross border acquisitions now account for a growing majority of completed transactions. A new class of event studies from Asia and China showing large positive Abnormal returns imply strong shareholder wealth gains and confirm value accretion to Acquirers from transactions increasing Control (Song, Tippett and Vivian, 2017). At the same time, Multinational Banks' exits show diminution of shareholder wealth and addition of value to domestic/cross border acquirers