The Demise of Investment Banking Partnerships: Theory and Evidence
In 1970 the New York Stock Exchange relaxed rules that prohibited the public incorporation of member firms. Investment banking concerns went public in waves, with Goldman Sachs the last of the bulge bracket banks to float. We explain the pattern of investment bank flotations. We argue that partnersh...
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| Materyal Türü: | Journal article |
| Baskı/Yayın Bilgisi: |
2008
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