"This paper looks at the role of both commercial and investment banks in providing merger advisory services. In this … investment banks. In their dual role as lenders and advisors to firms that are the target or the acquirer in a merger, banks can … advisors to acquirers. In particular, the target earns higher abnormal returns when the target's own bank certifies the (more …

We investigate how bank migration across state lines over the last quarter century has affected the size and covariance …