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Papers by Kamna r choudhary
Social Science Research Network, 2021
Phalanx -, 2023
Merger and acquisition is the game changer strategy in any business. The Indian banking industry ... more Merger and acquisition is the game changer strategy in any business. The Indian banking industry also faces a huge number of acquisitions from liberalization phase till date. Merger of banks leave a mark in any economy. Announcement of M and A creates positive as well as negative reaction on shareholders or investors of both the banks. The motive behind the study is to examine the effect of merger news on share price and wealth or expectations of investors. The event study methodology has been applied to know impact of merger news on the wealth of investors. This paper analyses the merger cases of NSE listed banks that took place between 2000 and 2005. The variables like stock price, expected return, market return, abnormal return and beta are being considered for study. An attempt has been made to inspect the significance difference in variables due to merger announcement.
NIU International Journal of Human Rights, 2022
In recent era all the sectors are undergoing for merger and acquisition in order to attain the gl... more In recent era all the sectors are undergoing for merger and acquisition in order to attain the global reach and reap the synergy out of the merger and banking sector are not unexampled. It is notable that the banking sector plays a crucial role in economy of any country. The Indian banking sector also witnessed a huge restructuring and development in the form of M and A. The present study is based on relationship between the merger and strengthening of financial position in Indian banking sector. It tries to analyze the post-merger financial performance of public sector banks based on CAMELS parameters. The CAMELS is a combination of ratios under six headings namely capital adequacy, asset quality, management efficiency, earning capacity, liquidity and sensitivity to market risk. It has been globally accepted by various banking and non-banking financial institutions to calculate the overall financial performance. The paper is based on post-merger financial ratios. The paper calculate the mean of 3 postmerger years CAMELS ratios, Analyze each banks under CAMELS parameter and finally ranked the banks based on their overall CWAS post-merger performance.
JETIR, 2019
As we all know that Indian share market is one of the successful markets around the globe. If we ... more As we all know that Indian share market is one of the successful markets around the globe. If we see the past returns Indian market has given most of the time a good return to share-holders. All these information ignite a desire on me to study about the event study analysis of merger announcement.
This paper concern with event study methodology to analyze the effect of merger announcement on the share price of listed private sector banks that merged between year 2005 and 2015.The event study methodology is defined to examine the changes in stock market due to any particular event; in this case the event is merger announcement date.
The motive of event analysis is to calculate the abnormal profit or loss faced by the share-owners. Event study is selected for study because it gives a short term result of merger. It gives a quick response of investors about the proposed merger and the perception of investors about the announced merger.
This paper included 7 Indian private sector banks mergers that took place between year 2005 and 2015. Private sector banks have been selected because it plays a vital role in the growth of economy in any country.
JETIR, 2019
This paper made an attempt to measure the abnormal return on share-price due to merger announceme... more This paper made an attempt to measure the abnormal return on share-price due to merger announcement. Event study methodology had been applied for getting the result. The estimated window period taken is +60 to -60 days from the date of merger announcement. In the particular the present paper discuss the effort of merger announcement on share price related with the private sector banks in Indian economy which took place between 2005 and 2015.
Calculation of AAR and CAAR has been done on the basis of available share price of each bank. The final conclusion will be drawn on the basis of statistical t-test. The study of the paper is concern with only 7 banks merger cases. The results shows that the investors are able to earn abnormal return but for a small window period.
Conference Presentations by Kamna r choudhary
IJSSMWA, 2022
Merger acquisition and consolidation are highly practiced in all the sectors now days to achieve ... more Merger acquisition and consolidation are highly practiced in all the sectors now days to achieve the competitive advantages and banking sector is not an exception. The Indian economy has witnessed a large number of consolidations of banks in both public and private sector. Numerous studies proved that M and A may leads to financial excellence but when it comes to HR integration, all has faced difficulties in post-merger integration part. It has been observed by various researchers that most of the merger leads to failure due to cultural clash or improper HR management. Sometimes due to inefficient leadership and motivational skill of the management team may leads to unhealthy merger deal. It has been observed that human resource development and involvement of human resource in the merger process contributes to a significant overall growth of organization and helps in uplift the performance standard.
The present paper tries to analyze the problem faced by employees of both target and acquirer banks during and after the merger process. It also put an attempt to analyze involvement of different level of employee in merger process and the effect of merger on performance of employee and management.
Social Science Research Network, 2021
Phalanx -, 2023
Merger and acquisition is the game changer strategy in any business. The Indian banking industry ... more Merger and acquisition is the game changer strategy in any business. The Indian banking industry also faces a huge number of acquisitions from liberalization phase till date. Merger of banks leave a mark in any economy. Announcement of M and A creates positive as well as negative reaction on shareholders or investors of both the banks. The motive behind the study is to examine the effect of merger news on share price and wealth or expectations of investors. The event study methodology has been applied to know impact of merger news on the wealth of investors. This paper analyses the merger cases of NSE listed banks that took place between 2000 and 2005. The variables like stock price, expected return, market return, abnormal return and beta are being considered for study. An attempt has been made to inspect the significance difference in variables due to merger announcement.
NIU International Journal of Human Rights, 2022
In recent era all the sectors are undergoing for merger and acquisition in order to attain the gl... more In recent era all the sectors are undergoing for merger and acquisition in order to attain the global reach and reap the synergy out of the merger and banking sector are not unexampled. It is notable that the banking sector plays a crucial role in economy of any country. The Indian banking sector also witnessed a huge restructuring and development in the form of M and A. The present study is based on relationship between the merger and strengthening of financial position in Indian banking sector. It tries to analyze the post-merger financial performance of public sector banks based on CAMELS parameters. The CAMELS is a combination of ratios under six headings namely capital adequacy, asset quality, management efficiency, earning capacity, liquidity and sensitivity to market risk. It has been globally accepted by various banking and non-banking financial institutions to calculate the overall financial performance. The paper is based on post-merger financial ratios. The paper calculate the mean of 3 postmerger years CAMELS ratios, Analyze each banks under CAMELS parameter and finally ranked the banks based on their overall CWAS post-merger performance.
JETIR, 2019
As we all know that Indian share market is one of the successful markets around the globe. If we ... more As we all know that Indian share market is one of the successful markets around the globe. If we see the past returns Indian market has given most of the time a good return to share-holders. All these information ignite a desire on me to study about the event study analysis of merger announcement.
This paper concern with event study methodology to analyze the effect of merger announcement on the share price of listed private sector banks that merged between year 2005 and 2015.The event study methodology is defined to examine the changes in stock market due to any particular event; in this case the event is merger announcement date.
The motive of event analysis is to calculate the abnormal profit or loss faced by the share-owners. Event study is selected for study because it gives a short term result of merger. It gives a quick response of investors about the proposed merger and the perception of investors about the announced merger.
This paper included 7 Indian private sector banks mergers that took place between year 2005 and 2015. Private sector banks have been selected because it plays a vital role in the growth of economy in any country.
JETIR, 2019
This paper made an attempt to measure the abnormal return on share-price due to merger announceme... more This paper made an attempt to measure the abnormal return on share-price due to merger announcement. Event study methodology had been applied for getting the result. The estimated window period taken is +60 to -60 days from the date of merger announcement. In the particular the present paper discuss the effort of merger announcement on share price related with the private sector banks in Indian economy which took place between 2005 and 2015.
Calculation of AAR and CAAR has been done on the basis of available share price of each bank. The final conclusion will be drawn on the basis of statistical t-test. The study of the paper is concern with only 7 banks merger cases. The results shows that the investors are able to earn abnormal return but for a small window period.
IJSSMWA, 2022
Merger acquisition and consolidation are highly practiced in all the sectors now days to achieve ... more Merger acquisition and consolidation are highly practiced in all the sectors now days to achieve the competitive advantages and banking sector is not an exception. The Indian economy has witnessed a large number of consolidations of banks in both public and private sector. Numerous studies proved that M and A may leads to financial excellence but when it comes to HR integration, all has faced difficulties in post-merger integration part. It has been observed by various researchers that most of the merger leads to failure due to cultural clash or improper HR management. Sometimes due to inefficient leadership and motivational skill of the management team may leads to unhealthy merger deal. It has been observed that human resource development and involvement of human resource in the merger process contributes to a significant overall growth of organization and helps in uplift the performance standard.
The present paper tries to analyze the problem faced by employees of both target and acquirer banks during and after the merger process. It also put an attempt to analyze involvement of different level of employee in merger process and the effect of merger on performance of employee and management.