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Financial services firms play a key role in the European economy. The efficiency and profitability of these firms and … and profitability of financial firms and institutions in Europe. The papers have been written by leading academics and …
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Is the reputation of a firm tradeable when the previous owner has to retire even though ownership change is observable? We consider a competitive market in which a share of owners must retire in each period. New owners, observing only recent profits, bid for the firms on sale. Customers are...
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