Ấn phẩm
Investment Banks as Financial Advisors in Malaysian Mergers and Acquisitions
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207
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9
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Tóm tắt
Our study examines the factors that affct the choice of hiring an investment bank as fiancial advisor in the merger and acquisition transactions of Malaysian acquirers. In the period from January 1995 to December 2012, approximately 38.6 percent of the Malaysian acquirers hire an investment bank when conducting M&A transactions. On the other hand, 23.8 percent of the target fims employ at least one investment bank as fiancial advisor when dealing with Malaysian bidders. Our fidings reveal that both participants tend to hire an investment bank when the acquirer operates in the technology sector, the deal takes place in a crisis period and the value of the transaction is high. An acquirer who has a high debt ratio is less likely to employ an investment bank and a publicly traded target is more likely to employ an investment bank in their M&A transactions. Moreover, our results show that, in a complex environment, the hiring of an investment banking is not for the valuation purpose.
Mô tả
economic banking economy
Tác giả
Cao, Dinh Kien
Tác giả khác
Nguyen, Thu Thuy
Nguyen, Minh Phuong
Người hướng dẫn
Nơi xuất bản
Nhà xuất bản
Kinh Tế Quốc Dân
Năm xuất bản
2017
ISSN tạp chí
Nhan đề tập
Từ khóa chủ đề
Behavioral fiance , investment policy , investment banking , market effiency , mergers & acquisitions.
