Does Ownership Explain Bank M&A? The Case of Domestic Banks and Foreign Banks in Brazil

Fatima Cardias Williams and Jonathan Williams

Chapter 9 in Financial Liberalization and Economic Performance in Emerging Countries, 2008, pp 194-215 from Palgrave Macmillan

Abstract: Abstract Higher levels of banking sector consolidation are one outcome of financial liberalization and technological developments over the past quarter century. Spawning a global wave of consolidation, beginning in the US and Europe in the mid-1980s before reaching emerging markets in the 1990s, liberalization and technology continue to raise competition while the market for corporate control reflects newer influences, such as cross-sector and cross-border financial linkages.1 Gelos and Roldós (2004) note three differences between the consolidation processes in mature and emerging markets. (1) cross-border mergers and acquisitions (M&A) is a more important source of consolidation in emerging markets; (2) consolidation is used to restructure emerging market banking sectors following episodes of financial crisis rather than to eliminate excess capacity; (3) emerging market governments are active participants in the consolidation process.

Keywords: Banking Sector; Foreign Bank; Relative Risk Ratio; Financial Liberalization; Profit Efficiency (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-22774-3_9

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DOI: 10.1057/9780230227743_9

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