全球智库信息集成服务系统(G2TT): DP7735 The international diversification of banks and the value of their cross-border M&A advice

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP7735
	DP7735 The international diversification of banks and the value of their cross-border M&A advice
	Steven Ongena; Abe De Jong; Marieke van der Poel
发表日期	2010-03-12
出版年	2010
语种	英语
摘要	This paper investigates the effects of international diversification of banks on the value of their M&A advice. We study bidder returns to 1,253 cross-border M&A announcements. We find that acquirers engaging a more internationally diversified financial advisor generate lower excess returns. Acquirers benefit most from advisors with a greater focus on their home country. These results suggest that the benefits of advisors? international diversification related to greater economies of scale and scope and the flexibility of allocating deals to the most skilled employee do not outweigh the costs emanating from a lack of country-specific knowledge and greater conflicts of interest.
主题	Financial Economics
关键词	Advisor choice Bank diversification Cross-border mergers and acquisitions
URL	https://cepr.org/publications/dp7735
来源智库	Centre for Economic Policy Research (United Kingdom)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/536568
推荐引用方式 GB/T 7714	Steven Ongena,Abe De Jong,Marieke van der Poel. DP7735 The international diversification of banks and the value of their cross-border M&A advice. 2010.