Premier advisory services for VIP acquirers

被引：4

作者：

Liu, Qi ^{[1
]}

Sun, Xian ^{[2
]}

Wu, Hong ^{[3
]}

机构：

[1] Peking Univ, Guanghua Sch Management, Beijing, Peoples R China

[2] Johns Hopkins Univ, Carey Business Sch, Baltimore, MD 21218 USA

[3] Fudan Univ, Sch Econ, Shanghai, Peoples R China

来源：

JOURNAL OF CORPORATE FINANCE | 2019年 / 54卷

基金：

中国国家自然科学基金;

关键词：

INVESTMENT BANKER; MERGERS; ACQUISITIONS; REPUTATION; MARKET; PERFORMANCE; ADVISERS; GAINS; FIRMS; INFORMATION;

D O I：

10.1016/j.jcorpfin.2018.11.002

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

We model an investment banks choice of resource allocation by the probability of acquirers' mergers and acquisitions frequency in the future to theoretically link the role of investment banks to the acquirer returns. Our model predicts the heterogeneity in the quality of advisory services provided by the same investment bank that leads to the heterogeneity in acquirer returns. Such heterogeneity declines as the likelihood of an industry merger wave rises. Controlling for investment bank fixed effects, acquirer fixed effects and potential self-selection bias, we find empirical evidence supporting our hypotheses.

引用

页码：1 / 25

页数：25

共 37 条

[31] ICT-based agricultural advisory services and nitrogen management practices: A case study of wheat production in China
Ji-ping, D. I. N. G.
Jing-han, L., I
Jia-huan, L. I. U.
Wei-feng, Z. H. A. N. G.
Xiang-ping, J. I. A.
JOURNAL OF INTEGRATIVE AGRICULTURE, 2022, 21 (06) : 1799 - 1811
[32] Does ICTs-based farm advisory services improve farmers' adaptation to climate change? Evidence from Pakistan
Khan, Nasir Abbas
Ma, Wanglin
Owusu, Victor
Shah, Ashfaq Ahmad
CLIMATE AND DEVELOPMENT, 2023, 15 (08) : 639 - 654
[33] Promoting the adoption of climate-smart agricultural technologies among maize farmers in Ghana: using digital advisory services
Asante, Bright O.
Ma, Wanglin
Prah, Stephen
Temoso, Omphile
MITIGATION AND ADAPTATION STRATEGIES FOR GLOBAL CHANGE, 2024, 29 (03)
[34] Delivering too much, too little or off target-possible consequences of differences in perceptions on agricultural advisory services
Krafft, Jannica
Hockert, Jenny
Ljung, Magnus
Lundberg, Sara
Kolstrup, Christina Lunner
AGRICULTURE AND HUMAN VALUES, 2022, 39 (01) : 185 - 199
[35] FROM ANALYSIS TO FORMULATION OF STRATEGIES FOR FARM ADVISORY SERVICES (CASE STUDY: VALENCIA - SPAIN). AN APPLICATION THROUGH SWOT AND QSPM MATRIX
Abbasi, Fatemeh
Esparcia, Javier
Saadi, Heshmat A.
EUROPEAN COUNTRYSIDE, 2019, 11 (01): : 43 - 73
[36] Advisory services and transformation, plurality and disruption of agriculture and food systems: towards a new research agenda for agricultural education and extension studies
Klerkx, Laurens
JOURNAL OF AGRICULTURAL EDUCATION & EXTENSION, 2020, 26 (02) : 131 - 140
[37] The effects of combined digital and human advisory services on reducing nitrogen fertilizer use: lessons from China's national research programs on low carbon agriculture
Ding, Jiping
Jia, Xiangping
Zhang, Weifeng
Klerkx, Laurens
INTERNATIONAL JOURNAL OF AGRICULTURAL SUSTAINABILITY, 2022, 20 (06) : 1136 - 1149

← 1 2 3 4 →