Return
Cross-border LBOs
DOI:10.1016/j.jbankfin.2014.08.027.png)
Abstract
En 中文
We examine cross-border private equity (PE) sponsored leveraged buyout (LBO) transactions in 43 countries in relation to creditor rights and other legal and institutional variables. Cross-border LBO investment is more common from strong creditor rights countries to weak creditor rights countries. Club deals are less common in countries with stronger creditor rights, and less common in cross-border LBOs. Premiums are lower in countries with stronger creditor rights, and among cross-border deals. (C) 2014 Elsevier B.V. All rights reserved.
Keywords:
LBOs
Creditor rights
Private equity
Cross border
Club deal
Law and finance
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