Risk Management after Mergers and Acquisitions. Evidence from the Greek Banking System

The purpose of this paper is to reflect as fully as possible the concept of banking risk and how it was formed after the mergers and acquisitions, domestic or cross-border, in Greek Systemic Banks since the Global Financial Crisis came to Greece. Risk assessment is a particularly important and difficult process, used by banks and businesses to improve the final performance of their project and ensure its success, avoiding unpleasant situations for their operation. The banking sector, which is one of the dominant branches of the economy in the modern reality, has undergone drastic changes and rearrangements in recent decades. The rapid evolution of technology, the internationalization of markets and the liberalization of capital have created a highly competitive and uncertain climate, as evidenced by the recent global financial crisis. Its risk and management, following the recent financial crisis that directly affected the banking sector, is one of the key concerns of the industry. For this reason, in recent years various methods and decisions have been developed, the most important of which are the rules of the Basel Committee III. In this paper we present VaR method in portfolio of four Greek systemic banks during 2010-2017. This research has been funded by Special Account for Research Grants of University of Western Macedonia (UoWM Koila-Kozani, Greece), under the framework of the Project entitled "The Foreign Direct Investment in the form of Mergers and Acquisitions on a Domestic and Cross-border basis as a Lever for the Development of the Greek Economy and as a Strategy for the Expansion of Enterprises and Financial Institutions". (Project no. ELKE-80327). JEL classification numbers: G21, G32, G34Keywords: Risk Management Mergers and Acquisitions, Banks.