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Beginning at the end of the 1990s the banking industry entered into a new phase of consolidation. The US market is experiencing an increasing number of inter-state bank mergers and acquisitions, whereas cross-border mergers between banks in different countries are becoming ever more common in the EU. This paper examines the motives and gains from large crossborder bank mergers by using what has been called a 'balanced scorecard approach'. It assesses firm performance by using both financial and non-financial (strategic) variables. The paper is explorative and covers a select literature review of bank mergers and acquisitions in general and an analysis of the NordbankenMerita merger based on the balanced scorecards approach in particular. It is shown that the balanced scorecard may be a very useful technique to analyse the complexity of large cross-border bank mergers and thereby it adds to our over-all understanding of bank mergers across borders. Furthermore, we demonstrate how the growth strategy behind the merger of the two banks may be organised within the framework of a balanced scorecard highlighting the strategic fit between them. Our findings imply that the strategic fit was of a complementary nature. The banks were completing each other rather well in the different perspectives of the model. The success of the merger will therefore very much depend on the capability of cross-utilising the different characteristics and strengths of the merging banks.

PurposeThe purpose of this paper is to review the literature that measures the concept of firms' information environment (IE) with focus on the validity of proxies used to measure IE.Design/methodology/approachThe paper reviews the IE literature using theoretically based categories and analyzes the contextual meaning and use of IE proxies. The review is based on a selection of 284 research articles from 51 journals between 2000 and 2018. A total of 37 different proxy measures of IE are found and analyzed with respect to causality based on categories and the use of IE variables as dependent, independent and control variables.FindingsThe study indicates that the IE measures are heterogeneous and there is a lack of consensus regarding their use. The different conditions used to study IE explain part, but far from all, of this heterogeneity. Furthermore, we find that the use of IE measures is only briefly discussed or motivated among the studies in the sample. These findings suggest a necessary discussion about causality in the use of IE as dependent, independent or control variables.Originality/valueThis study contains new and significant information on IE and IE proxy measures. It provides an extensive literature review and provides a novel typology to analyze IE.

This study investigates the consequences of using different methods when making conclusions about the effect of IFRS. The study's contribution is related to the suggestion that research design must be considered when analysing the results of prior studies on the adoption of IFRS. In summary, our results demonstrate that the impact of IFRS on accounting quality measured as financial analysts' information environment depends on the model used. Using the same model as in prior research (the BKLS model) our results confirm earlier studies that IFRS adoption improves the information environment for analysts. However, when using a more sophisticated model no such improvement can be found.

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