Role of financial advisors on acquisition performance in Europe

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dc.contributor.advisorJanssen, Dirk-Jan
dc.contributor.authorBlokland, Kelly
dc.date.issued2024-07-01
dc.description.abstractFinancial advisors play a crucial role in the world of mergers and acquisitions (M&A), due to their extensive knowledge and expertise. However, prior research has not reached a consensus on which financial advisor yields the highest acquisition performance on a deal, whether it is the full-service investment bank or the boutique banks. This study examines the impact of these different financial advisors on acquisition performance in Europe, with a particular emphasis on the impact of deal complexity. The quality of the financial advisor is measured with LSEG’s league ranking table and its effect on the cumulative abnormal return, together with a constructed complexity scale. The findings indicate that full-service investment banks generally achieve higher cumulative abnormal return (CAR), but with increased complexity a boutique advisors perform better. Besides, this research distinguishes between investment banks and boutique banks within the league table. These conclusions provide insights for firms in selecting the appropriate advisors to optimize their M&A strategies and outcomes in the dynamic European market. Keywords: Merger & Acquisitions (M&A), Financial advisor, Investment Bank, Boutique bank, Complexity, League Table
dc.identifier.urihttps://theses.ubn.ru.nl/handle/123456789/17353
dc.language.isoen
dc.thesis.facultyFaculteit der Managementwetenschappen
dc.thesis.specialisationspecialisations::Faculteit der Managementwetenschappen::Master Economics::Financial Economics
dc.thesis.studyprogrammestudyprogrammes::Faculteit der Managementwetenschappen::Master Economics
dc.thesis.typeMaster
dc.titleRole of financial advisors on acquisition performance in Europe
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