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Borrow Cheap, Buy High? The Determinants of Leverage and Pricing in Buyouts

Citations

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Cited by:

  1. Mike Burkart & Amil Dasgupta, 2014. "Activist Funds, Leverage, and Procyclicality," FMG Discussion Papers dp733, Financial Markets Group.
  2. Brian H. Boyer & Taylor D. Nadauld & Keith P. Vorkink & Michael S. Weisbach, 2023. "Discount‐Rate Risk in Private Equity: Evidence from Secondary Market Transactions," Journal of Finance, American Finance Association, vol. 78(2), pages 835-885, April.
  3. Grupp, Marcel, 2015. "Taking the lead: When non-banks arrange syndicated loans," SAFE Working Paper Series 100, Leibniz Institute for Financial Research SAFE.
  4. Steven J. Davis & John C. Haltiwanger & Kyle Handley & Ben Lipsius & Josh Lerner & Javier Miranda, 2021. "The economic effects of private equity buyouts," Jena Economics Research Papers 2021-013, Friedrich-Schiller-University Jena.
  5. Iioka, Yasutake & Yamada, Yuji, 2023. "The evolution of capital structure and debt governance: Evidence from private equity-backed companies in Japan," Pacific-Basin Finance Journal, Elsevier, vol. 79(C).
  6. Gompers, Paul A. & Kaplan, Steven N. & Mukharlyamov, Vladimir, 2022. "Private equity and Covid-19," Journal of Financial Intermediation, Elsevier, vol. 51(C).
  7. Vasso Ioannidou & Steven Ongena & José-Luis Peydró, 2015. "Monetary Policy, Risk-Taking, and Pricing: Evidence from a Quasi-Natural Experiment," Review of Finance, European Finance Association, vol. 19(1), pages 95-144.
  8. E. Benhamou & JJ. Ohana & B. Guez & E. Setrouk & T. Jacquot, 2025. "PEARL: Private Equity Accessibility Reimagined with Liquidity," Papers 2510.23183, arXiv.org.
  9. Graeme G. Acheson & Christopher Coyle & John D. Turner, 2016. "Happy hour followed by hangover: financing the UK brewery industry, 1880–1913," Business History, Taylor & Francis Journals, vol. 58(5), pages 725-751, July.
  10. Colla, Paolo & Ippolito, Filippo & Wagner, Hannes F., 2012. "Leverage and pricing of debt in LBOs," Journal of Corporate Finance, Elsevier, vol. 18(1), pages 124-137.
  11. Tykvová, Tereza & Borell, Mariela, 2012. "Do private equity owners increase risk of financial distress and bankruptcy?," Journal of Corporate Finance, Elsevier, vol. 18(1), pages 138-150.
  12. Norbäck, Pehr-Johan & Persson, Lars & Tåg, Joacim, 2018. "Does the debt tax shield distort ownership efficiency?," International Review of Economics & Finance, Elsevier, vol. 54(C), pages 299-310.
  13. Mao, Yaping & Renneboog, Luc, 2015. "Do managers manipulate earnings prior to management buyouts?," Journal of Corporate Finance, Elsevier, vol. 35(C), pages 43-61.
  14. Carolina Salva & Xiqian Zhang, 2022. "Financial versus strategic bidders and underpricing as an acquisition motive," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 49(9-10), pages 1830-1862, October.
  15. David C. Ling & Andy Naranjo & Benjamin Scheick, 2016. "Credit Availability and Asset Pricing Dynamics in Illiquid Markets: Evidence from Commercial Real Estate Markets," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 48(7), pages 1321-1362, October.
  16. Wright, Nataliya Langburd & Nagle, Frank & Greenstein, Shane, 2023. "Open source software and global entrepreneurship," Research Policy, Elsevier, vol. 52(9).
  17. Tereza Tykvová, 2018. "Venture capital and private equity financing: an overview of recent literature and an agenda for future research," Journal of Business Economics, Springer, vol. 88(3), pages 325-362, May.
  18. Gabriel Jiménez & Steven Ongena & José-Luis Peydró & Jesús Saurina, 2017. "“In the Short Run Blasé, In the Long Run Risqué”," Schmalenbach Business Review, Springer;Schmalenbach-Gesellschaft, vol. 18(3), pages 181-226, August.
  19. Gao, Jingyi, 2022. "Global value chain and firms’ leverage: The mediator role of foreign ownership," Finance Research Letters, Elsevier, vol. 48(C).
  20. Shai Bernstein & Josh Lerner & Filippo Mezzanotti, 2020. "Private Equity and Portfolio Companies: Lessons from the Global Financial Crisis," Journal of Applied Corporate Finance, Morgan Stanley, vol. 32(3), pages 21-42, September.
  21. Martin Olsson & Joacim Tåg, 2017. "Private Equity, Layoffs, and Job Polarization," Journal of Labor Economics, University of Chicago Press, vol. 35(3), pages 697-754.
  22. Jia, Haiying & Jiang, Liping & Azevedo, Paulo, 2024. "Green premium and the role of financial investors in sustainable investment in container shipping," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 189(C).
  23. Chen Liu & Lynnette Purda & Hui Zhu, 2021. "Institutional influence on syndicate structure and cross‐border leveraged buyouts," Financial Management, Financial Management Association International, vol. 50(1), pages 169-202, March.
  24. Arcot, Sridhar & Fluck, Zsuzsanna & Gaspar, José-Miguel & Hege, Ulrich, 2015. "Fund managers under pressure: Rationale and determinants of secondary buyouts," Journal of Financial Economics, Elsevier, vol. 115(1), pages 102-135.
  25. Robinson, David T. & Sensoy, Berk A., 2016. "Cyclicality, performance measurement, and cash flow liquidity in private equity," Journal of Financial Economics, Elsevier, vol. 122(3), pages 521-543.
  26. Sharjil M. Haque & Simon Mayer & Teng Wang, 2024. "How Private Equity Fuels Non-Bank Lending," Finance and Economics Discussion Series 2024-015, Board of Governors of the Federal Reserve System (U.S.).
  27. Ann†Kristin Achleitner & André Betzer & Marc Goergen & Bastian Hinterramskogler, 2013. "Private Equity Acquisitions of Continental European Firms: the Impact of Ownership and Control on the Likelihood of Being Taken Private," European Financial Management, European Financial Management Association, vol. 19(1), pages 72-107, January.
  28. Benjamin Hammer & Heiko Hinrichs & Bernhard Schwetzler, 2018. "Does culture affect the performance of private equity buyouts?," Journal of Business Economics, Springer, vol. 88(3), pages 393-469, May.
  29. Hege, Ulrich & Lovo, Stefano & Slovin, Myron B. & Sushka, Marie E., 2018. "Divisional buyouts by private equity and the market for divested assets," Journal of Corporate Finance, Elsevier, vol. 53(C), pages 21-37.
  30. Grupp, Marcel & Rauch, Christian & Umber, Marc P. & Walz, Uwe, 2015. "The influence of leveraged buyouts on target firms' competitors," SAFE Working Paper Series 99, Leibniz Institute for Financial Research SAFE.
  31. Yu-En Lin & Hsiang-Hsuan Chih & Chia-Hsin Cheng & Yan-Qing Ku, 2016. "Market Competition, Arbitrage Risk, And Capital Structure: Evidence From Taiwan," Annals of Financial Economics (AFE), World Scientific Publishing Co. Pte. Ltd., vol. 11(01), pages 1-11, March.
  32. Bienz, Carsten & Thorburn, Karin & Walz, Uwe, 2019. "Ownership, Wealth, and Risk Taking: Evidence on Private Equity Fund Managers," SAFE Working Paper Series 126, Leibniz Institute for Financial Research SAFE, revised 2019.
  33. Andrew Metrick & Ayako Yasuda, 2011. "Venture Capital and Other Private Equity: a Survey," European Financial Management, European Financial Management Association, vol. 17(4), pages 619-654, September.
  34. Abir Attahiri & Maroua Zineelabidine & Mohamed Makhroute, 2025. "Managerial Shareholding and Performance in LBOs: Evidence from the MENA Region," Economies, MDPI, vol. 13(7), pages 1-25, July.
  35. Fang, Lily & Ivashina, Victoria & Lerner, Josh, 2015. "The disintermediation of financial markets: Direct investing in private equity," Journal of Financial Economics, Elsevier, vol. 116(1), pages 160-178.
  36. E. Benhamou & JJ. Ohana & B. Guez & E. Setrouk & T. Jacquot, 2025. "Building Trust in Illiquid Markets: an AI-Powered Replication of Private Equity Funds," Papers 2510.23201, arXiv.org.
  37. Golubov, Andrey & Xiong, Nan, 2020. "Post-acquisition performance of private acquirers," Journal of Corporate Finance, Elsevier, vol. 60(C).
  38. Thorsten Knauer & Friedrich Sommer, 2012. "Interest barrier rules as a response to highly leveraged transactions," Review of Accounting and Finance, Emerald Group Publishing Limited, vol. 11(2), pages 206-232, May.
  39. Malenko, Andrey & Malenko, Nadya, 2015. "A theory of LBO activity based on repeated debt-equity conflicts," Journal of Financial Economics, Elsevier, vol. 117(3), pages 607-627.
  40. Dorra Najar, 2017. "Private equity managers’ fees: estimation and sensitivity analysis using Monte Carlo simulation," Review of Quantitative Finance and Accounting, Springer, vol. 48(1), pages 239-263, January.
  41. Giovanna Nicodano & Luca Regis, 2023. "Leverage and Interest Rates," Carlo Alberto Notebooks 692 JEL Classification: G, Collegio Carlo Alberto.
  42. Antonio Salvi & Emanuele Teti & Anastasia Giakoumelou, 2021. "The Relationship between LBOs, IPOs and Market Risk Premium: An Empirical Analysis of the European Market," International Journal of Business and Management, Canadian Center of Science and Education, vol. 14(7), pages 160-160, July.
  43. Nadauld, Taylor D. & Weisbach, Michael S., 2012. "Did securitization affect the cost of corporate debt?," Journal of Financial Economics, Elsevier, vol. 105(2), pages 332-352.
  44. Matanova, Natalia & Steigner, Tanja & Sutton, Ninon & Thompson, Linh, 2022. "The influence of private equity and venture capital on the post-IPO performance of newly-public acquirers," The North American Journal of Economics and Finance, Elsevier, vol. 59(C).
  45. Buchner, Axel & Wagner, Niklas F., 2017. "Rewarding risk-taking or skill? The case of private equity fund managers," Journal of Banking & Finance, Elsevier, vol. 80(C), pages 14-32.
  46. Duca, John V. & Sanchez-Colburn, Franklin, 2025. "What drives U.S. corporate private equity? An historical perspective," Journal of Financial Stability, Elsevier, vol. 78(C).
  47. Nicolas P. B. Bollen & Berk A. Sensoy, 2022. "How much for a haircut? Illiquidity, secondary markets, and the value of private equity," Financial Management, Financial Management Association International, vol. 51(2), pages 501-538, June.
  48. Brown, Gregory W. & Gredil, Oleg R. & Kaplan, Steven N., 2019. "Do private equity funds manipulate reported returns?," Journal of Financial Economics, Elsevier, vol. 132(2), pages 267-297.
  49. Phalippou, Ludovic & Rauch, Christian & Umber, Marc, 2018. "Private equity portfolio company fees," Journal of Financial Economics, Elsevier, vol. 129(3), pages 559-585.
  50. Ann†Kristin Achleitner & Christian Figge, 2014. "Private Equity Lemons?Evidence on Value Creation in Secondary Buyouts," European Financial Management, European Financial Management Association, vol. 20(2), pages 406-433, March.
  51. Gompers, Paul & Kaplan, Steven N. & Mukharlyamov, Vladimir, 2016. "What do private equity firms say they do?," Journal of Financial Economics, Elsevier, vol. 121(3), pages 449-476.
  52. Martin Oehmke & Hongda Zhong & Chong Huang, 2017. "A Theory of Multi-Period Debt Structure," 2017 Meeting Papers 1645, Society for Economic Dynamics.
  53. Benjamin Hammer & Nils Janssen & Bernhard Schwetzler, 2021. "Cross-border buyout pricing," Journal of Business Economics, Springer, vol. 91(5), pages 705-731, July.
  54. Chiarella, Carlo & Ostinelli, Diego, 2020. "Financial or strategic buyers: Who is at the gate?," International Review of Economics & Finance, Elsevier, vol. 67(C), pages 393-407.
  55. Cao, Xiaping & Cumming, Douglas & Goh, Jeremy & Wang, Xiaoming, 2019. "The impact of investor protection law on global takeovers: LBO vs. non-LBO transactions," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 59(C), pages 1-18.
  56. Hammer, Benjamin & Marcotty-Dehm, Nikolaus & Schweizer, Denis & Schwetzler, Bernhard, 2022. "Pricing and value creation in private equity-backed buy-and-build strategies," Journal of Corporate Finance, Elsevier, vol. 77(C).
  57. Seung Kwak & Charles Press, 2023. "Pre-LBO Credit Market Conditions and Post-LBO Target Behavior," Finance and Economics Discussion Series 2023-077, Board of Governors of the Federal Reserve System (U.S.).
  58. Hammer, Benjamin & Knauer, Alexander & Pflücke, Magnus & Schwetzler, Bernhard, 2017. "Inorganic growth strategies and the evolution of the private equity business model," Journal of Corporate Finance, Elsevier, vol. 45(C), pages 31-63.
  59. Jenkinson, Tim & Sousa, Miguel, 2015. "What determines the exit decision for leveraged buyouts?," Journal of Banking & Finance, Elsevier, vol. 59(C), pages 399-408.
  60. Steven J. Davis & John Haltiwanger & Kyle Handley & Ben Lipsius & Josh Lerner & Javier Miranda, 2025. "The (Heterogeneous) Economic Effects of Private Equity Buyouts," Management Science, INFORMS, vol. 71(11), pages 9569-9587, November.
  61. Massa, Massimo & Zhang, Lei, 2015. "Bank Credit Tightening, Debt Market Frictions and Corporate Yield Spreads," CEPR Discussion Papers 10537, C.E.P.R. Discussion Papers.
  62. Gao, Jingyi & Ren, Yuanming & Zhan, Xinyu, 2025. "Does digital finance alter the leverage decision of firms? Evidence from China," International Review of Financial Analysis, Elsevier, vol. 104(PA).
  63. Jimmy Shek & Ilhyock Shim & Hyun Song Shin, 2018. "Investor Redemptions and Fund Manager Sales of Emerging Market Bonds: How Are They Related? [Borrow cheap, buy high? The determinants of leverage and pricing in buyouts]," Review of Finance, European Finance Association, vol. 22(1), pages 207-241.
  64. Dasgupta, Amil & Burkart, Mike, 2020. "Competition for flow and and short-termism in activism," LSE Research Online Documents on Economics 106516, London School of Economics and Political Science, LSE Library.
  65. Lily Fang & Victoria Ivashina & Josh Lerner, 2013. "Combining Banking with Private Equity Investing," The Review of Financial Studies, Society for Financial Studies, vol. 26(9), pages 2139-2173.
  66. Paul Hribar & Todd Kravet & Trent Krupa, 2025. "Earnings myopia and private equity takeovers," Review of Accounting Studies, Springer, vol. 30(1), pages 994-1035, March.
  67. Liang, Qing & Gan, Christopher & Li, Zhaohua, 2019. "Institutional environment and financing costs: Evidence from venture capital backed transactions," Finance Research Letters, Elsevier, vol. 31(C).
  68. Lopez-de-Silanes, Florencio & Phalippou, Ludovic & Gottschalg, Olivier, 2010. "Giants at the Gate: On the Cross-section of Private Equity Investment Returns," MPRA Paper 28487, University Library of Munich, Germany.
  69. Matthias Huss & Heinz Zimmermann, 2018. "The Pricing of Liquidity Risk in Buyout Funds – A Public Market Perspective," Schmalenbach Business Review, Springer;Schmalenbach-Gesellschaft, vol. 70(3), pages 285-312, July.
  70. Jia, Xiao & McCourt, Maurice, 2022. "Global leveraged buyout deal performance: A cross-border cross-cultural perspective," Pacific-Basin Finance Journal, Elsevier, vol. 71(C).
  71. Bienz, Carsten & Thorburn, Karin S. & Walz, Uwe, 2023. "Fund ownership, wealth, and risk-taking: Evidence on private equity managers," Journal of Financial Intermediation, Elsevier, vol. 54(C).
  72. Bergbrant, Mikael C. & Hunter, Delroy M., 2018. "(How) do credit market conditions affect firms' post-hedging outcomes? Evidence from bank lending standards and firms' currency exposure," Journal of Corporate Finance, Elsevier, vol. 50(C), pages 203-222.
  73. Giovannetti, Andrea & Pipic, Denis, 2023. "Shaking hands with common foes: Clique premium and information diffusion in private equity networks," International Review of Financial Analysis, Elsevier, vol. 86(C).
  74. Lai, Shaojie & Pu, Xiaoling, 2020. "Mispricing or growth? an empirical analysis of acquisition premium," Finance Research Letters, Elsevier, vol. 37(C).
  75. Ljungqvist, Alexander & Bircan, Cagatay & Biesinger, Markus, 2020. "Value Creation in Private Equity," CEPR Discussion Papers 14676, C.E.P.R. Discussion Papers.
  76. Feixue Gong & Gregory Phelan, 2020. "Debt collateralization, capital structure, and maximal leverage," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 70(2), pages 579-605, September.
  77. Burkart, Mike & Lee, Samuel & Petri, Henrik, 2020. "The Social Value of Debt in the Market for Corporate Control," CEPR Discussion Papers 15249, C.E.P.R. Discussion Papers.
  78. Franke, Benedikt & Müller, Sebastian & Müller, Sonja, 2017. "The q-factors and expected bond returns," Journal of Banking & Finance, Elsevier, vol. 83(C), pages 19-35.
  79. Massa, Massimo & Zhang, Lei, 2021. "Bank credit tightening, debt market frictions, and corporate yield spreads," Journal of Financial Markets, Elsevier, vol. 55(C).
  80. Díaz, Antonio & Esparcia, Carlos & Tegtmeier, Lars, 2025. "Private equity market dynamics: Beyond the surface," International Review of Economics & Finance, Elsevier, vol. 100(C).
  81. James Mills & Raven Molloy & Rebecca Zarutskie, 2019. "Large‐Scale Buy‐to‐Rent Investors in the Single‐Family Housing Market: The Emergence of a New Asset Class," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 47(2), pages 399-430, June.
  82. Dyaran Bansraj & Han Smit & Vadym Volosovych, 2020. "Can Private Equity Funds Act as Strategic Buyers? Evidence from Buy-and-Build Strategies," Tinbergen Institute Discussion Papers 20-041/IV, Tinbergen Institute.
  83. Ayash, Brian, 2020. "The origin, ownership and use of cash flows in leveraged buyouts," The Quarterly Review of Economics and Finance, Elsevier, vol. 77(C), pages 286-295.
  84. Sharjil M. Haque, 2023. "Does Private Equity Over-Lever Portfolio Companies?," Finance and Economics Discussion Series 2023-009, Board of Governors of the Federal Reserve System (U.S.).
  85. Sirio Aramonte & Fernando Avalos, 2021. "The rise of private markets," BIS Quarterly Review, Bank for International Settlements, December.
  86. Antonia Schickinger & Alexandra Bertschi-Michel & Max P. Leitterstorf & Nadine Kammerlander, 2022. "Same same, but different: capital structures in single family offices compared with private equity firms," Small Business Economics, Springer, vol. 58(3), pages 1407-1425, March.
  87. Sabrina T. Howell & Josh Lerner & Ramana Nanda & Richard R. Townsend, 2020. "How Resilient is Venture-Backed Innovation? Evidence from Four Decades of U.S. Patenting," NBER Working Papers 27150, National Bureau of Economic Research, Inc.
  88. Aurélien Philippot, 2025. "A Moral Evaluation of LBOs," Journal of Business Ethics, Springer, vol. 196(3), pages 695-709, January.
  89. Matthias M M Buehlmaier & Josef Zechner, 2021. "Financial Media, Price Discovery, and Merger Arbitrage [Who writes the news? Corporate press releases during merger negotiations]," Review of Finance, European Finance Association, vol. 25(4), pages 997-1046.
  90. Dahya, Jay & Wu, Betty (H.T.), 2024. "Social capital, syndication, and investment performance: Evidence from PE investing in LBOs," International Review of Financial Analysis, Elsevier, vol. 95(PA).
  91. Yehuda Pivin & Yossi Yagil, 2024. "The relationship between institutional investors’ holding in public firms and the level of corporate solvency," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 28(4), pages 1237-1256, December.
  92. Nick Wilson & Mike Wright, 2013. "Private Equity, Buy-outs and Insolvency Risk," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 40(7-8), pages 949-990, September.
  93. Grupp, Marcel, 2015. "On the impact of leveraged buyouts on bank systemic risk," SAFE Working Paper Series 101, Leibniz Institute for Financial Research SAFE.
  94. Valentin Haddad & Erik Loualiche & Matthew Plosser, 2017. "Buyout Activity: The Impact of Aggregate Discount Rates," Journal of Finance, American Finance Association, vol. 72(1), pages 371-414, February.
  95. Heinrich, Victor, 2023. "Private Equity Transactions: Value Creation through Operational Engineering – Evidence from Europe," Junior Management Science (JUMS), Junior Management Science e. V., vol. 8(3), pages 634-657.
  96. Victoria Ivashina & Boris Vallee, 2020. "Weak Credit Covenants," NBER Working Papers 27316, National Bureau of Economic Research, Inc.
  97. Huang, Chong & Oehmke, Martin & Zhong, Hongda, 2019. "A theory of multiperiod debt structure," LSE Research Online Documents on Economics 90429, London School of Economics and Political Science, LSE Library.
  98. Do, Hung X. & Nguyen, Nhut H. & Nguyen, Quan M.P., 2022. "Financial leverage and stock return comovement," Journal of Financial Markets, Elsevier, vol. 60(C).
  99. Mittoo, Usha & Ng, Dennis & Yan, Meng, 2020. "Managerial ownership, credit market conditions, undervaluation and offer premiums in management (MBOs) and leveraged buyouts (LBOs)," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 65(C).
  100. Shai Bernstein & Josh Lerner & Filippo Mezzanotti, 2019. "Private Equity and Financial Fragility during the Crisis," The Review of Financial Studies, Society for Financial Studies, vol. 32(4), pages 1309-1373.
  101. Cao, Jerry X. & Cumming, Douglas & Qian, Meijun & Wang, Xiaoming, 2015. "Cross-border LBOs," Journal of Banking & Finance, Elsevier, vol. 50(C), pages 69-80.
  102. Achleitner, Ann-Kristin & Braun, Reiner & Tappeiner, Florian, 2009. "Structure and determinants of financial covenants in leveraged buyouts - evidence from an economy with strong creditor rights," CEFS Working Paper Series 2009-15, Technische Universität München (TUM), Center for Entrepreneurial and Financial Studies (CEFS).
  103. Ayash, Brian & Lizarraga, Fermín & Alegría, Santiago Sánchez, 2025. "Leveraged buyouts in Spain: Organic growth or industry consolidation?," International Review of Financial Analysis, Elsevier, vol. 104(PA).
  104. David Gregory, 2013. "Private equity and financial stability," Bank of England Quarterly Bulletin, Bank of England, vol. 53(1), pages 38-47.
  105. Cohn, Jonathan B. & Mills, Lillian F. & Towery, Erin M., 2014. "The evolution of capital structure and operating performance after leveraged buyouts: Evidence from U.S. corporate tax returns," Journal of Financial Economics, Elsevier, vol. 111(2), pages 469-494.
  106. Sabrina Howell & Josh Lerner & Ramana Nanda & Richard Townsend, 2020. "Financial Distancing: How Venture Capital Follows the Economy Down and Curtails Innovation," Harvard Business School Working Papers 20-115, Harvard Business School.
  107. Lloyd Blenman & Nischala Reddy, 2014. "Leveraged Buyout Activity: A Tale of Developed and Developing Economies," Journal of Financial Management, Markets and Institutions, Società editrice il Mulino, issue 2, pages 157-184, December.
  108. repec:ipg:wpaper:2014-591 is not listed on IDEAS
  109. Herrera-Echeverri Hernán & Haar Jerry & Salazar-Duque Juan Guillermo, 2017. "Private Equity and Devaluation in Emerging Countries," Global Economy Journal, De Gruyter, vol. 17(1), pages 1-26, March.
  110. Bo Liu & Yang Liu & Jinqiang Yang, 2018. "Optimal ownership structure in private equity," European Financial Management, European Financial Management Association, vol. 24(1), pages 113-135, January.
  111. Ann-Kristin Achleitner & Reiner Braun & Eva Lutz & Florian Tappeiner, 2018. "Private equity group reputation and financing structures in German leveraged buyouts," Journal of Business Economics, Springer, vol. 88(3), pages 363-392, May.
  112. Achleitner, Ann-Kristin & Braun, Reiner & Engel, Nico, 2011. "Value creation and pricing in buyouts: Empirical evidence from Europe and North America," Review of Financial Economics, Elsevier, vol. 20(4), pages 146-161.
  113. Ding Du & Mason Gerety, 2018. "Credit spreads and merger pricing," Journal of Asset Management, Palgrave Macmillan, vol. 19(3), pages 169-178, May.
  114. Paul Lavery & Marian-Eliza Spaliara, 2022. "Private equity buyouts & firm exporting during the global financial crisis," Working Papers 2022_09, Business School - Economics, University of Glasgow.
  115. Erel, Isil & Jang, Yeejin & Minton, Bernadette A. & Weisbach, Michael S., 2021. "Corporate Liquidity, Acquisitions, and Macroeconomic Conditions," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 56(2), pages 443-474, March.
  116. Borja Larrain & Francisco Urzúa I., 2016. "Do Business Groups Change With Market Development?," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 25(3), pages 750-784, September.
  117. Ewens, Michael & Gupta, Arpit & Howell, Sabrina, 2021. "Local Journalism under Private Equity Ownership," SocArXiv 6ynf4, Center for Open Science.
  118. Andrea Frazzini & Lasse Heje Pedersen, 2022. "Embedded Leverage [Asset pricing with liquidity risk]," The Review of Asset Pricing Studies, Society for Financial Studies, vol. 12(1), pages 1-52.
  119. Cao, Xiaping & Chan, Konan & Kahle, Kathleen, 2018. "Risk and performance of bonds sponsored by private equity firms," Journal of Banking & Finance, Elsevier, vol. 93(C), pages 41-53.
  120. Giot, Pierre & Hege, Ulrich & Schwienbacher, Armin, 2014. "Are novice private equity funds risk-takers? Evidence from a comparison with established funds," Journal of Corporate Finance, Elsevier, vol. 27(C), pages 55-71.
  121. Matthias Fleckenstein & Francis A. Longstaff, 2023. "Small Business Equity Returns: Empirical Evidence from the Business Credit Card Securitization Market," Journal of Finance, American Finance Association, vol. 78(1), pages 389-425, February.
  122. Aleksandar Andonov & Roman Kräussl & Joshua Rauh & Stijn Van Nieuwerburgh, 2021. "Institutional Investors and Infrastructure Investing [Pension fund asset allocation and liability discount rates]," The Review of Financial Studies, Society for Financial Studies, vol. 34(8), pages 3880-3934.
  123. Abhishek Bhardwaj & Abhinav Gupta & Sabrina T. Howell, 2025. "Leveraged Payouts: How Using New Debt to Pay Returns in Private Equity Affects Firms, Employees, Creditors, and Investors," Working Papers 25-12, Center for Economic Studies, U.S. Census Bureau.
  124. Chen, Sicen & Liu, Siyi & Zhang, Junsheng & Zhang, Pengdong, 2023. "The effect of extreme rainfall on corporate financing policies," Journal of Economic Behavior & Organization, Elsevier, vol. 216(C), pages 670-685.
  125. Ann‐Kristin Achleitner & Reiner Braun & Nico Engel, 2011. "Value creation and pricing in buyouts: Empirical evidence from Europe and North America," Review of Financial Economics, John Wiley & Sons, vol. 20(4), pages 146-161, November.
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