Resumen
- The effects of bank failures, and mergers and acquisitions (M & A) in Colombia have been thoroughly studied in the literature. However, there is limited evidence regarding microeconomic determinants of these events. This paper fills that gap by finding evidence about the significant determinants that take a financial institution to participate in such processes, using survival analysis techniques. Two important conclusions derive from our study: (i) the probability of participating in an M & A event is decreasing on banks' financial health; and, (ii) the included macroeconomic variables matter, as well as market concentration.