FRANCO FIORDELISI is Professor of Banking and Finance at the Faculty of Economics, University of Rome III, Italy. He is also Visiting Senior Research Fellow at Bangor Business School, UK, and at the Essex Finance Centre of the University of Essex, UK. His main research interest relates to the economics of banking and other financial institutions, focusing on efficiency, productivity and shareholder value creation. He recently published Shareholder Value in European Banking (2007) and New Drivers of Performance in a Changing Financial World (2008). He has acted as a consultant to many banks, leasing and factoring companies.

• List of Tables and Figures Preface Acknowledgements Why Study M&A in Banking? Merger and Acquisition Trends in the European Banking Why do Banks Merge? M&A of Financial Institutions: A Review of the Literature Do M&A's Create Value for Shareholders? The Short-term Wealth Effect Do M&A's Create Value for Shareholders? The Long-term Wealth Effect Do M&A's Create Value for Shareholders? The Effect on the Bank Efficiency The Post-Acquisition Integration Conclusions References Index