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The effect of financial advisor reputation on mergers and acquisitions performance

Author

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  • Hao, Yinhui
  • Zhou, Yan

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.

Suggested Citation

  • Hao, Yinhui & Zhou, Yan, 2025. "The effect of financial advisor reputation on mergers and acquisitions performance," Finance Research Letters, Elsevier, vol. 79(C).
    • Handle: RePEc:eee:finlet:v:79:y:2025:i:c:s1544612325005446
    DOI: 10.1016/j.frl.2025.107281
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    References listed on IDEAS

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