Chapter 6
Conclusions and Fhture Work
6.1 Conclusions
As shown in Chapter 5, the probability of bankruptcy stays about the same after
the passage of the 1999 GLB Act. On the other hand, the probability of acquisitions
decreases.
There are a variety of possible reasons behind the conclusions we reached. For
instance, as the business in either banking or insurance industry is complex in nature,
not many bankers or insurers have the necessary knowledge to effectively operate the
combined business. Thus, they are hesitant to initiate acquisitions across industries.
Another argument is that the major acquisitions had started prior to the passage
of the 1999 GLB Act. For example, Citibank merged with Traveler’s Group in 1998.
It was speculated that the passage of the GLB Act was designed to justify those
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