Do Virtual Data Rooms add value in transactions?

This used to be a discussion point two or three years ago although it is mostly now commonly agreed that a dataroom is not a good thing to have but a must for a transaction.

Very good research article by Dr. Christopher Kummer and Vlado Sliskovic of the Institute of Mergers, Acquisitions and Alliances about the impact of datarooms in M&A.

Although it is a little dated, it is a must read for anyone involved in due diligence.