"This paper looks at the role of both commercial and investment banks in providing merger advisory services. In this … area, unlike some areas of investment banking, commercial banks have always been allowed to compete directly with … investment banks. In their dual role as lenders and advisors to firms that are the target or the acquirer in a merger, banks can …

In moral hazard models, bank shareholders have incentives to transfer wealth from the deposit insurer - that is …, maximize put option value - by pursuing riskier strategies. For safe banks with large charter value, however, the risk … value, and a risk measure, this paper develops a semi-parametric model for estimating the critical level of bank risk at …