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Cross-border LBOs

Cao, Jerry X.; Cumming, Douglas; Qian, Meijun; Wang, Xiaoming


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...[Show more]

CollectionsANU Research Publications
Date published: 2015-01
Type: Journal article
Source: Journal of Banking & Finance
DOI: 10.1016/j.jbankfin.2014.08.027
Access Rights: Open Access


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