We analyze the shareholder wealth implications of the financial sector consolidation in the Asia-Pacific region between 1995 and 2013. The results suggest that market power consideration play a prominent role when capital market participants value M&As between Asian financial institutions. Asian...

We analyze acquisition decisions and the interactions between acquirer and credit rating agencies using credit reviews. We show that acquisitions are more likely to be withdrawn if the firm’s rating is placed on review for downgrade. Focusing on completed acquisitions, deals associated with...