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  1. 1 Nauki o Finansach

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  1. 1 Budny K.

  2. 1 Krasodomska J.

  3. 1 Świetla K.

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  1. 1 2019

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Performance changes around banks mergers and acquisitions: evidence from Poland

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Budny K., Krasodomska J., Świetla K.
Nauki o Finansach
|
2019
|
issue vol. 24 no. 2
28-45
EN
This study investigates the influence of M&A on the performance of banks operating in Poland. We use a sample of 14 transactions that occurred in the Polish banking sector from 2001 to 2015. Our data set includes pre and post-merger accounting information covering a period of two years before and after the merger. We follow Pilloff’s [1996] approach to determine the average performance changes measured with ROAA and ROAE. According to the research results, M&As transactions seem to affect profitability as both ROAA and ROAE means change. However, these changes do not follow the same trend. The correlations between the acquirer’s pre-merger weighted performance measured with ROAA and ROAE and merger-related changes in performance are significant and negative. The same situation is observed as regards the target pre-merger weighted performance measured with ROAE and merger-related changes in performance. The results also suggest that large acquirers are associated with less successful M&A.
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