Title: Valorisations boursières
des
opérations de fusions et acquisition du secteur bancaire
européen
et américain
Abstract: The acceleration of the movement
of
concentration and reorganization of the banking in the United States as
in
Europe was spectacular since the beginning of 1999. The object of this
research
is to analyze the stock market valuation of European and American
bank’s
merger announcement. By using a traditional methodology of study of
event,
our work suggests several results. Firstly, the existence of the
positive
and significant cumulative average abnormal return conduces to accept
our
first hypothesis. Secondly, this study establishes a very clear
distinction
between the domestic merger’s announcements for which the markets react
positively
and cross border mergers are received unfavourably. Lastly, the results
show
a difference between the announcement effects of European bank mergers
compared
to those in the American.
Authors: Abdelfettah Bouri et Fathia Aydi
Trabelsi
