This book offers a comprehensive analysis of the shareholder wealth effects of the financial sector consolidation in the Asia-Pacific
region and its impact on the acquirer's cost of debt. By not only examining the capital market reactions to the institutions
directly involved in M&A transactions, but also their closest rivals, it is possible to draw clearer conclusions in regard
to the overall success of the financial sector consolidation in this region. In addition, by investigating the acquiring institution's
CDS market reaction to merger announcements, valuable insights are offered in regard to the difference between equity and
debt market perceptions of bank M&As. The analyses suggest that equity and debt markets consider different factors when evaluating
the success of mergers.