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Merger-Related Cost Savings in the Production of Bank Services
Social Science Research Network
This paper utilizes a new flow measure of the true output of bank services to analyze the impact of mergers on the cost and productivity of Bank Holding Companies (BHCs) over the period 1987-1999. It shows that there are conceptual problems in the output measures used in previous studies, which may be the reason for their paradoxical findings: Bank mergers are estimated to lead to significant increases in profit, without cost savings or increases in market power. This paper also points out thedoi:10.2139/ssrn.648108 fatcat:pith4b42bvgjnidpfp4vsjlkki