Search Results
Report
The role of bank advisors in mergers and acquisitions
This paper looks at the role of both commercial and investment banks in providing merger advisory services. In this area, unlike some areas of investment banking, commercial banks have always been allowed to compete directly with investment banks. In their dual role as lenders and advisors to firms that are the target or the acquirer in a merger, banks can be viewed as serving a certification function. However, banks acting as both lenders and advisors face a potential conflict of interest that may mitigate or offset any certification effect. Overall, we find evidence supporting the ...
Journal Article
Why are so many new stock issues underpriced?
Journal Article
LDC debt rescheduling: calculating who gains, who loses
Conference Paper
Bank underwriting of debt securities: modern evidence
Conference Paper
Ownership structure, deregulation, and bank risk taking