PwC's "Global M&A industry trends: 2025 mid-year outlook"17 seems like a strong, recent, and reputable source for M&A trends. This is good for the "Practical Applications" or "Limitations and Criticisms" section.
* **External Link 4 (Reliable critique/academic paper on limitations/ethics):**
[^1^](https://www.researchgate.net/publication/304648220_Recent_Ethical_Issues_in_Investment_Banking)[^2^](https://idea[^12^](https://corporatefinanceinstitute.com/resources/valuation/managing-conflicts-of-interest-ib/), [^13^](https://www.bkcglaw.com/blog/2022/01/conflicts-of-interests-in-investment-banking/), [^14^](https://eimf.eu/conflicts-of-interest-in-financial-institutions/), [^15^](https://finansdanmark.dk/media/qyai545i/recommendations-on-how-to-deal-with-conflicts-of-interest.pdf), [^16^](https://www.deloitte.com/uk/en/services/consulting-risk/blogs/2024/conflicts-of-interest-in-investment-and-wholesale-banking.html)s.repec.org/h/pal/palchp/978-0-230-34885-1_6.html)[^3^](https://[^11^](https://ideas.repec.org/h/pal/palchp/978-0-230-34885-1_6.html)www.bkcglaw.com/blog/2022/01/conflicts-of-interests-in-investment-banking/)[^4^](https://corporatefinanceinstitute.com/resources/valuation/managing-confl[^10^](https://www.researchgate.net/publication/377433350_A_COMPREHENSIVE_REVIEW_OF_ETHICAL_PRACTICES_IN_BANKING_AND_FINANCE)icts-of-interest-ib/)[^5^](https:[^9^](https://ideas.repec.org/h/pal/palchp/978-0-230-34885-1_6.html)//ideas.repec.org/h/pal/palchp/978-0-230-34885-1_6.html)[^6^](https://www.bkcglaw.com/blog/2022/01/conflicts-of-interests-in-investment-banking/)[^7^](https://www.researchgate.net/publication/304648220_Recent_Ethical_[^8^](https://corporatefinanceinstitute.com/resources/valuation/managing-conflicts-of-interest-ib/)Issues_in_Investment_Banking)