Song, Weihong; Wei, Jie; Zhou, Lei - In: Journal of Corporate Finance 20 (2013) C, pp. 94-114
Between 1995 and 2006 about a quarter of merging firms hired boutique banks as their advisors on mergers and acquisitions (M&A). Boutique advisors, often specialized by industry, are generally smaller and more independent than full-service banks. This paper investigates firms' choice between...