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dc.contributor.authorRubio Misas, María
dc.contributor.authorCummins, J. David Cummins
dc.date.accessioned2019-07-26T11:34:48Z
dc.date.available2019-07-26T11:34:48Z
dc.date.created2019
dc.date.issued2019-07-26
dc.identifier.urihttps://hdl.handle.net/10630/18160
dc.description.abstractThis paper provides new evidence on the determinants associated with the likelihood of an insurer being involved in mergers and acquisitions (M&As) by investigating the factors for both becoming a target or becoming an acquirer in the Spanish insurance industry over the period 2000 through 2012. Overall, value-enhancing strategies have been the main motivations for the analyzed M&As, since the increase of performance in terms of scale and allocative efficiency are principal reasons to be involved as acquirers and insurers are more likely to be targets if they are less profitable and have higher premium growth rates. Results also indicate that the insurer’s ownership type is a main determinant on the likelihood to be involved in M&As. A higher likelihood of becoming an acquirer exists for parents of Spanish insurance groups, then by subsidiaries of foreign insurance groups and subsidiaries of Spanish banking groups while a higher likelihood of becoming a target exists for subsidiaries of insurance groups (both Spanish and foreign). We also find that in non-life insurance, the higher likelihood of becoming an acquirer for parents of Spanish insurance groups is moderated by their own level of product diversification.en_US
dc.description.sponsorshipUniversidad de Málaga. Campus de Excelencia Internacional Andalucia Techen_US
dc.language.isoengen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.subject.otherMergers and Acquisitionsen_US
dc.subject.otherOwnership typeen_US
dc.subject.otherSpanish insurance industryen_US
dc.titleDeterminants of Mergers and Acquisitions: Evidence from the Spanish Insurance Industryen_US
dc.typeinfo:eu-repo/semantics/conferenceObjecten_US
dc.centroFacultad de Ciencias Económicas y Empresarialesen_US
dc.relation.eventtitle9th International Conference in Financial Engineering and banking Societyen_US
dc.relation.eventplacePraga (República Checa)en_US
dc.relation.eventdate30/05/2019en_US


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