The Role of Bank-Fintech Partnerships in Creating a More Inclusive Banking System
In: FRB of Philadelphia Working Paper No. 23-21
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In: FRB of Philadelphia Working Paper No. 23-21
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In: FRB of Philadelphia Working Paper No. 21-17
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In: Journal of economics and business, Band 100, S. 43-54
ISSN: 0148-6195
In: Journal of economics and business, Band 100, S. 1-6
ISSN: 0148-6195
In: Financial Management 48 (2019), 1009-1029
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In: FRB of Philadelphia Working Paper No. 18-13
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Working paper
In: FRB of Philadelphia Working Paper No. 17-17
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Working paper
In: Journal of economics and business, Band 53, Heft 2-3, S. 313-324
ISSN: 0148-6195
In: Journal of economics and business, Band 52, Heft 6, S. 485-497
ISSN: 0148-6195
In: RIBAF-D-23-00380
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In: FRB of Philadelphia Working Paper No. 18-18
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Working paper
In: Review of financial economics: RFE, Band 12, Heft 1, S. 65-81
ISSN: 1873-5924
AbstractThis paper investigates the choice of financial advisors in mergers and acquisitions, the fees that the targets and the acquiring firms pay to these advisors, and the speed with which advisors complete transactions. Our sample includes 5337 merger deals announced during the period January 1995 to June 2000, that involved publicly traded targets and acquirers. We find that top‐tier advisors are more likely to complete deals and to complete them in less time than lower tier advisors. However, the synergistic gains realized by the acquirers declined when top advisors were used. We also find that contingent fees play a significant role in expediting the deal completion. Surprisingly, we find that deals that are initiated by the advisors do not seem to take less time to complete. Our results suggest that the payment of larger advisory fees do not play an important role in determining the likelihood of completing the deal, but they are associated with greater acquisition gains realized by the acquirer. In addition, these synergistic gains are also associated with the switching by acquirers of their financial advisors within the same tier.
In: FRB of Philadelphia Working Paper No. 23-26
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In: FRB of Philadelphia Working Paper No. 22-12
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In: CEPR Discussion Paper No. DP16977
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