Evaluation of Merger and Acquisition Processes in the Brazilian Banking Sector by Means of an Event Study

Revista Brasileira de Gestão de Negócios, Vol. 17, Núm. 56, pp. 1105-1115, Abril-Junio, 2015

12 Pages Posted: 15 May 2017

See all articles by Daniel Reed Bergmann

Daniel Reed Bergmann

Mackenzie Presbyterian University

José Savoia

FEA-USP

Bruno de Melo Sousa

University of São Paulo (USP) - Department of Administration

Frederic de Mariz

Columbia University; Sciences Po

Date Written: April 22, 2015

Abstract

Objective: Analyze the reactions of the stock market to M&A announcements, i.e. find out if there was value creation and consequently maximization of shareholder wealth or whether there was value destruction and consequently a decrease in the wealth of the shareholders of the acquiring companies in the short term.

Keywords: Event Study, Mergers and Acquisitions and Banks

Suggested Citation

Bergmann, Daniel Reed and Ferreira Savoia, Jose Roberto and de Melo Sousa, Bruno and de Mariz, Frederic, Evaluation of Merger and Acquisition Processes in the Brazilian Banking Sector by Means of an Event Study (April 22, 2015). Revista Brasileira de Gestão de Negócios, Vol. 17, Núm. 56, pp. 1105-1115, Abril-Junio, 2015, Available at SSRN: https://ssrn.com/abstract=2967371

Daniel Reed Bergmann (Contact Author)

Mackenzie Presbyterian University ( email )

Rua da Consolação 920
São Paulo, 010302907
Brazil

Jose Roberto Ferreira Savoia

FEA-USP ( email )

Av. Prof. Luciano Gualberto 908
São Paulo SP, São Paulo 05508-900
Brazil

Bruno De Melo Sousa

University of São Paulo (USP) - Department of Administration ( email )

Av. Prof. Luciano Gualberto
908 - Presidio 1 Sala G142
Sao Paulo 05508-900
Brazil

Frederic De Mariz

Columbia University ( email )

3022 Broadway
New York, NY 10027
United States

Sciences Po ( email )

27 rue Saint-Guillaume
Paris Cedex 07, 75337
France

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