Efectos de las fusiones bancarias en los resultados. El caso de las cajas rurales en España durante la primera mitad de la década de 2000

Abstract

During the last ten years a large number of mergers between Spanish Cooperative Banks has taken place. The goal of this article is to analyze the effect that the mergers have had, that have been finalized during the first half of the first decade of the 21st century, on the levels of profit, efficiency, productivity and the strategic behaviour of these entities. Therefore we have chosen these completed mergers during this period and we have analyzed different variables comparing them to the average of the sector five years prior and five years after the merger had taken place. The study shows that the mergers have not improved the economic results of these banks, though they have altered the strategic behaviour.