The effect of financial advisor reputation on mergers and acquisitions performance

IF 7.4 2区经济学 Q1 BUSINESS, FINANCE

Finance Research Letters Pub Date : 2025-03-29 DOI:10.1016/j.frl.2025.107281

Yinhui Hao, Yan Zhou

引用次数: 0

Abstract

This study investigates the relationship between the reputation of financial advisors and the performance of mergers and acquisitions (M&A) among China's A-share listed companies over the 2012–2022 period. Our analysis of a sample of M&A and restructuring events reveals a significant positive association between the reputation of financial advisors and the success of M&A deals. Importantly, this positive relationship is found to be attenuated in cases involving shell listings. Additionally, we find that a higher degree of marketization enhances the positive impact of financial advisor reputation on M&A performance.

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来源期刊

Finance Research Letters BUSINESS, FINANCE-

CiteScore

11.10

自引率

14.40%

发文量

863

期刊介绍： Finance Research Letters welcomes submissions across all areas of finance, aiming for rapid publication of significant new findings. The journal particularly encourages papers that provide insight into the replicability of established results, examine the cross-national applicability of previous findings, challenge existing methodologies, or demonstrate methodological contingencies. Papers are invited in the following areas: Actuarial studies Alternative investments Asset Pricing Bankruptcy and liquidation Banks and other Depository Institutions Behavioral and experimental finance Bibliometric and Scientometric studies of finance Capital budgeting and corporate investment Capital markets and accounting Capital structure and payout policy Commodities Contagion, crises and interdependence Corporate governance Credit and fixed income markets and instruments Derivatives Emerging markets Energy Finance and Energy Markets Financial Econometrics Financial History Financial intermediation and money markets Financial markets and marketplaces Financial Mathematics and Econophysics Financial Regulation and Law Forecasting Frontier market studies International Finance Market efficiency, event studies Mergers, acquisitions and the market for corporate control Micro Finance Institutions Microstructure Non-bank Financial Institutions Personal Finance Portfolio choice and investing Real estate finance and investing Risk SME, Family and Entrepreneurial Finance