Original paper
Investment banking, the certification effect and M&A deals: An event study approach
Abstract
Several studies have found the existence of a relationship between the role of investment banks appointed as advisors in M&A deals and the yields earned by their clients. Traditionally this relationship is fostered by the ability of the leading investment banks to arrange and structure the best deals – i.e. the Superior Deal Hypothesis – and by the “certification effect”, namely that their presence provides assurance to the capital markets...
Paper Details
Title
Investment banking, the certification effect and M&A deals: An event study approach
Published Date
Jan 1, 2017
Volume
14
Issue
2
Pages
383 - 402
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Notes
History