Dittmann, Ingolf; Maug, Ernst; Schneider, Christoph - In: Review of Finance 14 (2010) 1, pp. 35-71
We analyze the role of bankers on the boards of German non-financial companies for the period from 1994 to 2005. We find that banks that are represented on a firm's board promote their own business as lenders and as M&A advisors. They also seem to act as financial experts who help firms to...