The Brexit bill and England's history of defaulting on payments

Another annual event took place at the ICMA Centre recently to help new and returning students to settle back into university life.

Senior Visiting Fellow at the ICMA Centre, Richard Comotto, will be speaking at the upcoming conference organised by the ICMA European Repo Council, titled "A collateralised future - what really happened in the repo market during the crisis and how will it cope with growing collateral demand, stagnant supply and regulatory uncertainty?". Richard Comotto will be a panellist in a workshop session titled: Is repo an unstable source of funding? The issues of procyclicality of leverage, interconnectedness, asset encumbrance, collateral re-use and fire sales.

"Institutional Cross-ownership and Corporate Strategy: The Case of Mergers and Acquisitions" by Professor Chris Brooks, Dr Yeqin Zeng, and PhD Zhong Chen has been awarded Best Corporate Finance Paper at the 2016 Southern Finance Association annual conference. About the paper: The paper provides new evidence on the important role of institutional investors in affecting corporate strategy. We study institutional investors who hold stocks of both acquirers and targets before the announcements of mergers and acquisitions (M&As). The existence of these institutional cross-owners not only increases the probability of two firms merging, but also affects the outcomes of M&As. Institutional cross-ownership reduces target firm prices, lowers completion probabilities of deals with negative acquirer announcement returns, and increases the use of stock payment in M&A transactions. Furthermore, deals with high institutional cross-ownership have lower transaction costs and disclose more transparent financial statement information.