Cross-border LBOs

被引：38

作者：

Cao, Jerry X. ^{[1
]}

Cumming, Douglas ^{[2
]}

Qian, Meijun ^{[3
]}

Wang, Xiaoming ^{[4
]}

机构：

[1] Singapore Management Univ, Lee Kong Chian Sch Business, Singapore 178899, Singapore

[2] York Univ, Schulich Sch Business, Toronto, ON M3J 1P3, Canada

[3] NUS, Sch Business, Dept Finance, Singapore 119245, Singapore

[4] Shanghain Univ Finance & Econ, Shanghai, Peoples R China

来源：

JOURNAL OF BANKING & FINANCE | 2015年 / 50卷

关键词：

LBOs; Creditor rights; Private equity; Cross border; Club deal; Law and finance; INVESTOR PROTECTION; DETERMINANTS; LAW; CONTRACTS; ECONOMICS; MERGERS;

D O I：

10.1016/j.jbankfin.2014.08.027

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

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.

引用

页码：69 / 80

页数：12

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