buildings were observed before, in-between and after two consecutive law changes that first made certification compulsory and … effect of certification. Supplementary analysis suggests that consumers do value energy efficiency per se, and that energy … which certification of buildings affects energy consumption. One implication from theory is that compulsory certification is …

"certification". When acquirers lack acquisition experience and targets are located in inferior information environments, VC …/PE "certification" is more significant. The better reputation a VC/PE has, the more information it conveys. Syndicate VC/PEs convey …. Overall, our results suggest that VC/PEs have value relevance in the M&A market, confirming their "certification" role. We …