The Dynamics of Foreign Bank Ownership : Evidence from Hungary

The early start of the process of bank restructuring and privatization in Hungary provides a longer and richer amount of evidence than that available for any other transition economy. The authors analyze the dynamics of bank restructuring in Hungary with a focus on the role played by foreign ownersh...

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Bibliographische Detailangaben
Hauptverfasser:	Majnoni, Giovanni, Shankar, Rashmi, Varhegyi, Eva
Format:	Buch
Sprache:	eng
Schlagworte:	BAD DEBTS BANK ASSETS BANK BRANCHES BANK CAPITAL BANK LENDING BANK LOANS BANK PERFORMANCE BANK PRIVATIZATION BANK RESTRUCTURING BANKING INVESTMENTS BANKING LEGISLATION BANKING SECTOR BANKING SERVICES BANKING SYSTEM BANKING SYSTEMS BANKRUPTCY BANKS BID CAPITAL ADEQUACY CAPITAL ADEQUACY RATIOS CAPITAL BASE CAPITAL REQUIREMENTS CAPITALIZATION CAR CENTRAL BANK CENTRAL BANK FUNCTIONS COMMERCIAL BANKS COMPANY LAW COMPANY MANAGEMENT COMPARATIVE ADVANTAGE CONSOLIDATION CORPORATE GOVERNANCE DEPOSITS DOMESTIC COMPETITORS ECONOMETRIC ANALYSIS EFFICIENCY IMPROVEMENTS ELASTICITY ELASTICITY OF DEMAND EMERGING ECONOMIES EQUITY CAPITAL EXPENDITURES FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL LIBERALIZATION FINANCIAL MARKETS FINANCIAL REFORMS FINANCIAL SECTOR FINANCIAL SERVICES FOREIGN BANKS FOREIGN CAPITAL FOREIGN COMPANIES FOREIGN DIRECT INVESTMENT FOREIGN INVESTMENT FOREIGN INVESTORS FOREIGN MANAGEMENT FOREIGN OWNERSHIP FOREIGN SHAREHOLDERS GDP GDP DEFLATOR INCOME TAX RATE INFLATION INFLATION RATE INTEREST INCOME INTEREST MARGIN INVESTMENT BANKING LABOR COSTS LEGISLATION LOAN CLASSIFICATION MANAGERIAL ECONOMICS MARKET ENTRY MONOPOLIES NATIONAL BANK OF HUNGARY OPERATING COSTS OPERATING INCOME OWNERSHIP STRUCTURE PARTIAL PRIVATIZATION PERFORMANCE INDICATORS PORTFOLIO PORTFOLIOS PRIVATE BANKING PRIVATIZATION PRIVATIZATION OF PUBLIC ENTERPRISES PROBLEM LOANS PRODUCTION FUNCTION PROFITABILITY PUBLIC POLICY PURCHASE PRICE RATING SYSTEMS RETAIL BANKING RETAIL BANKS RETURN ON ASSETS ROA ROE SAVINGS SECURITIES SHAREHOLDERS SMALL BANKS SPECIALIZED BANKS STATE OWNED BANKS STATE OWNERSHIP SUBSIDIARIES TELECOMMUNICATIONS TRANSITION ECONOMIES WAGES WAGES FOREIGN BANKS
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Beschreibung
Zusammenfassung:	The early start of the process of bank restructuring and privatization in Hungary provides a longer and richer amount of evidence than that available for any other transition economy. The authors analyze the dynamics of bank restructuring in Hungary with a focus on the role played by foreign ownership. They explore the performance over time of foreign-owned Hungarian banks and study the extent to which efficiency gains are affected by the chosen acquisition strategy-strategic acquisition in contrast with investment in a newly established bank (greenfield investment)-or by the management style adopted after the acquisition. The authors supplement previous results on the effects of foreign bank ownership in three ways. First, they explicitly consider the time span required for the change of ownership to affect bank performance. Second, the authors explore how important the chosen acquisition strategy is for the success of an acquisition. And third, they study how relevant the adopted management style is to this end, as proxied by the degree of reliance on foreign management.