Creditor protections and cross-country LBOs

• Main Authors: CAO, Xiaping, Wang, Xiaoming, QIAN, Meijun, Cumming, Douglas
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2005
• Subjects: Business
• Online Access: https://ink.library.smu.edu.sg/lkcsb_research/4398
• Institution: Singapore Management University

This paper examines the relation between legal conditions and leveraged buyouts (LBOs) in 49 countries. The data indicate that sophisticated PE fund managers carrying out large international LBOs can only partially mitigate costs associated with inefficient legal protections. LBOs are more active in...