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Cross-border LBOs

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Date

2015-01

Authors

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

Journal Title

Journal ISSN

Volume Title

Publisher

Elsevier

Abstract

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.

Description

Keywords

LBOs, Creditor rights, Private equity, Cross border, Club deal, Law and finance

Citation

URI

http://hdl.handle.net/1885/112125

Collections

ANU Research Publications

Source

Journal of Banking & Finance

Type

Journal article

Book Title

Entity type

Access Statement

Open Access

License Rights

DOI

10.1016/j.jbankfin.2014.08.027

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