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Brexit poses an existential challenge the City of London as a European and global financial centre. The withdrawal of … ‘passporting’ threatens the ability of financial institutions in London to sell services to customers in the EU, and this has … prompted many predictions of London’s financial demise. Banks are considering relocating staff and activities to other European …
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We analyse the motives and market valuation of various forms of stock market delisting. We show that firms that delist voluntarily are likely to have come to the market to rebalance their leverage rather than to finance their growth opportunities. During their public life, their leverage...
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