Can we breathe a sigh of relief now? The impact of First Republic Bank takeover by JP Morgan on the US equity markets

Haitham Nobanee, Wajahat Azmi, Dipanwita Chakraborty, Philip Anthony Hamill and Xuan-Hoa Nghiem

Finance Research Letters, 2023, vol. 58, issue PB

Abstract: This paper investigates the effects of the takeover of First Republic Bank (FRB) by JP Morgan Chase on different US equity indices. Results from an event-study approach reveal that this acquisition exerts no significant impact on US equity markets, indicating that these markets in the US are relatively immune to extreme shocks and therefore, could act as a safe haven for investors during times of high uncertainty.

Keywords: Financial crisis; Bank failures; Takeover; Event-study approach; Equity markets (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:58:y:2023:i:pb:s154461232300716x

DOI: 10.1016/j.frl.2023.104344

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