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Efficiency from Bank Mergers and Acquisitions in Bulgaria

PhD Student Stefan Kutsarov ()
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PhD Student Stefan Kutsarov: University of Economics - Varna

An Annual Book of University of Economics - Varna, 2021, vol. 91, issue 1, 203-244

Abstract: Bank mergers and acquisitions are leading to different changes in the bank and financial sector in each country. They have a direct impact on the efficiency of banks and their operational performance. The main objective of this paper is to investigate the changes in the efficiency of consolidated banks compared to those that do not participate in such processes, i.e., to analyze the relationship "scale - efficiency" in the banking sector in Bulgaria. For measuring the efficiency are used performance indicators ROA and ROE in seven years. The results show that the M and As of banks from the first group lead to an increase in efficiency, but such a trend is not observed in banks from the second and third groups. Empirical research partially confirms the hypothesis that consolidated banks increase their efficiency compared to the banks that form them mainly in the banks of the first group. Comparison of consolidated and non-consolidated banks shows that mergers and acquisitions are not a secure approach to increasing banking efficiency.

Keywords: banks; M and As; efficiency (search for similar items in EconPapers)
JEL-codes: G14 G21 (search for similar items in EconPapers)
Date: 2021
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