Market Reaction to FDIC''s Takeover and It''s Determinants

• Main Authors: Yue-Cheng Huang, 黃約程
• Other Authors: Hsiu-I Ting
• Format: Others
• Language: zh-TW
• Published: 2011
• Online Access: http://ndltd.ncl.edu.tw/handle/64607006817315934634

碩士 === 國立高雄第一科技大學 === 金融研究所 === 99 === The paper studies the effect of FDIC-assisted transactions in auctioning assets of commercial banks that failed from 2007 to 2011 with respect to the acquiring banks’ abnormal return, and examining whether the hypotheses behind the abnormal return. The sample consists of 201 American-based FDIC-assisted P&A transactions from February, 2007 through April, 2011, of which 153 are LS transaction, 48 are not. The result shows that three primary hypotheses－Synergy, Over Subsidization, Preferential Treatment－have significantly positive effect on acquiring banks’ abnormal return, but over subsidization effect is less significant than the other two. Additionally, the result of our study on how P&A variables influence acquiring banks’ return also meets positive.