Information Intermediaries: How Commercial Bankers Facilitate Strategic Alliances
نویسندگان
چکیده
Abstract We investigate how bankers use information from lending relationships to help borrowers find partners for strategic alliances. Firms that have borrowed the same banker or share an indirect connection through a network of are significantly more likely enter alliance. Consistent with overcoming informational frictions, their ability facilitate alliances decreases banker-network distance, and is stronger opaque borrowers. connected potential via networks These associated positive announcement returns, brokering banks receive future underwriting mandates.
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ژورنال
عنوان ژورنال: Journal of Financial and Quantitative Analysis
سال: 2022
ISSN: ['1756-6916', '0022-1090']
DOI: https://doi.org/10.1017/s0022109022000485