LOGIT MODELS IN MERGERS AND ACQUISITIONS IN THE FINANCIAL SECTOR

In the nineties in the financial sector there was a process of mergers and acquisitions across Europe. This trend started in the United States in the eighties, extending to the European continent. The liberalization of the sector in Spain has led to a disproportionate growth of the financial sector throughout the country, which has led to an expansion without regard to profitability and a competition that has led to grant loans without the necessary guarantees, and lowering the scoring level of financial institutions to undesirable levels. The crisis has demonstrated the need for a healthy, competitive and robust financial system to facilitate intermediation between holders of financial resources and those in need of investment. This study provides an analysis of the variables that have a marginal effect on the probability of participating in a financial restructuring process. Used models with categorical endogenous variable to represent the different situations of absorption considered. In the modeling process there have been used the econometric techniques of selecting variable, and the interpretability of these financial.