difference-in-difference approach. Our results show that ETS implementation leads to significantly less cross-border merger and …

-oriented regime for merger control increases banks' stock prices, whereas it decreases those of non-financial firms. Moreover, bank … merger targets become more profitable and larger. A major determinant of the positive bank returns, after controlling inter … institutional setup for supervisory bank merger reviews. Thus strengthening competition policy in banking may generate positive …

Using a detailed and large data set on cross-border merger and acquisitions we discuss the relationship between theory …