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The Changing Nature of Investment Banking Relationships
| Content Provider | Semantic Scholar |
|---|---|
| Author | Corwin, Shane A. Stegemoller, Mike |
| Copyright Year | 2014 |
| Abstract | We examine relationships between firms and their investment banks (IBs), both within and across different IB functions. For all transaction types, we find an increase in the number of relationships and a decrease in relationship exclusivity over time. We identify significant transaction-type specific relationship components, with relationships being strongest for equity and weakest for M&A. Relationships are less exclusive for firms with more bargaining power and more exclusive for younger, smaller firms, and firms with more growth options. Most importantly, we find strong evidence of a firm-wide relationship component that spans the functional areas of I-banking and increases over time. |
| File Format | PDF HTM / HTML |
| DOI | 10.2139/ssrn.2354565 |
| Alternate Webpage(s) | https://www3.nd.edu/~scorwin/documents/IBankRelationships_20140117.pdf |
| Alternate Webpage(s) | http://www.babson.edu/Academics/divisions/finance/Documents/IBank%20Relationships.pdf |
| Alternate Webpage(s) | https://www3.nd.edu/~finance/scPaper.pdf |
| Alternate Webpage(s) | https://doi.org/10.2139/ssrn.2354565 |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |
