Les leagues tables : méfiance !

Les leagues tables sont elles représentatives de la qualité des prestations des banques d'affaires ?

Poser la question, c'est déjà un peu y répondre ... Le NewYork Time a publié une étude intéressante sur le sujet accompagné par un article qui s'intitule "They’re All No. 1, but Are They Worth It?".

Extraits :

The analysis looked at the performance of buyers after they made meaningful acquisitions — ones that were worth at least 10 percent or more of a buyer’s market capitalization and had a value of at least $250 million.Each deal’s performance was evaluated by looking at the buyer’s stock price 30 days before the announcement of the deal and again 18 months after the deal’s close, giving the buyer ample time to integrate the business and begin seeing results. The buyer’s stock performance was then benchmarked against an industry average to see how it compared with its peers (...) If there is any takeaway, it may be that the value of all this high-priced advice is ephemeral; the performance of deals is always going to be a crapshoot.

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