
Review of Quantitative Finance and Accounting, Journal Year: 2024, Volume and Issue: 63(4), P. 1193 - 1231
Published: June 27, 2024
Abstract We investigate the puzzle of banks contracting services external advisors for deals they can self-manage and role financial in mergers acquisitions among European banking firms. also study determinants choice by bank acquirers targets to either appoint or manage in-house, as well between appointing top lower tier advisors. Top are more likely be employed debt financed cross-border deals. find that most managed contrary prior findings reporting mostly externally attributed certification effect. Targets fail benefit from where do not match acquirer’s decision However, there is an overall propensity counter party’s advisor.
Language: Английский