Analiza uspješnosti preuzimanja investicijske banke Merrill Lynch od strane Bank of America

master's thesis

• Title (english): Performance analysis of the acquisition of Merrill Lynch investment bank by Bank f America
• Author: Antonio Zarožinski
• Mentor: Davor Filipović (mentor); MBZ: 315072
• Committee member: Hrvoje Šimović (predsjednik povjerenstva)
• Committee member: Mihovil Anđelinović (član povjerenstva)
• Granter: University of Zagreb; Faculty of Economics and Business; (Department of Finance); Zagreb
• Defense date and country: 2021-09-13, Croatia
• Scientific / art field, discipline and subdiscipline: SOCIAL SCIENCES; Economics; Finance

Abstract

Trend spajanja i preuzimanja zasigurno predstavlja jedno od glavnih obilježja suvremenog svjetskog poslovnog sustava. Iz godine u godinu svjetske ekonomije postižu sve veće razine kompleksnosti i zato banke moraju ostati fleksibilne te kroz kontinuirane promjene i prilagodbe na tržištu povećavati svoju efikasnost. Jedan od načina za to su i poslovne integracije. Financijski sektor prema aktivnosti u poslovnim integracijama uvijek kotira vrlo dobro te je konstantno pri vrhu po broju spajanja i preuzimanja, ali i ukupnoj vrijednosti transakcija. Tehnološki pomaci koji su se dogodili krajem 20. i početkom 21. stoljeća u području informatike, telekomunikacija, prometa i drugih omogućili su nesmetan prijenos ogromnih količina podataka i informacija širom svijeta te tako utjecali na razvoj mnogih sektora, uključujući i financijski. Sekuritizacija i financijske izvedenice jedni su od važnijih produkata financijskog inženjerstva koji su unaprijedili poslovanje i povećali profite banaka i drugih financijskih institucija, ali isto tako su jedan od glavnih razloga zbog kojih je došlo do financijske krize 2007. godine. Zbog krize dolazi do propasti mnogih kompanija, a ni banke nisu bile iznimka. Nakon propasti investicijske banke Lehman Brothers, na red je trebala doći Merrill Lynch. Ipak, preuzimanjem od strane Bank of America Merrill Lynch je izbjegla objavu bankrota. Ovaj rad se bavi motivima koji su doveli do preuzimanja, zatim samim procesom preuzimanja i završno uspješnosti navedene integracije na daljnjem poslovanju banaka.

Abstract (english)

Mergers and acquisitions trend certainly represents one of the main characteristics of modern global business system. Year after year the world economy is increasing in complexity and therefore banks must remain flexible and improve their efficiency through continuous changes and adjustments. One of the ways to do this is by integration. Financial industry historically was very active in this field and it was always somewhere at the top by number of mergers and acquisitions, as well as the total value of transactions. Development in technology that occurred in the late 20th and the early 21st century in computer science, telecommunications, transport and other fields enabled the smooth transmission of large amounts of data and information around the world, thereby affecting the development of many different industries, including financial industry. Securitization and derivatives are among the most important products of financial engineering in recent history. They have improved financial operations and increased banks’ profits as well as other financial institutions. But they are also one of the main reasons why the 2007 financial crisis occurred. The crisis has led to the collapse of many companies, and banks have been no exception. After the collapse of Lehman Brothers, Merrill Lynch supposed to be the next victim. But by Bank of America takeover Merrill Lynch avoided bankruptcy. This master thesis describes the motives that led to the takeover, then the process of takeover itself and finally success of the mentioned integration on further banks operations.

• Keywords: Spajanje i preuzimanje; financijska kriza; Bank of America; Merrill Lynch; sekuritizacija
• Keywords (english): Mergers and acquisitions; financial crisis; Bank of America; Merrill Lynch; securitization
• Language: croatian
• URN:NBN: urn:nbn:hr:148:181931
• Study programme: Title: Business Economics; specializations in: Finance, Accounting, Marketing, Organization and management, Trade, Tourism, Analysis and Business planning, Business informatics; Course: Finance; Study programme type: university; Study level: graduate; Academic / professional title: diplomirani/a ekonomist/ekonomistica (diplomirani/a ekonomist/ekonomistica)
• Type of resource: Text
• File origin: Born digital
• Access conditions: Access restricted to students and staff of home institution
• Created on: 2021-09-14 16:11:59