Private Equity and Human Capital Risk
We study the human-capital effects of private equity buyouts in Germany. We conduct matched-sample difference-in-differences estimations at the...
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Fund Managers under Pressure: Rationale and Determinants of Secondary Buyouts
The fastest growing segment of private equity deals are secondary buyouts - sales from one PE fund to another. Using a comprehensive sample of leveraged...
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Private Equity Buyouts and Employee Health
We relate employees’ health to their productivity to analyze the restructuring of the labor force during Private Equity buyouts using...
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Corporate Governance and Value Creation: Evidence from Private Equity
We examine deal-level data from 395 private equity transactions in Western Europe initiated by large private equity houses during the period 1991 to...
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Deal Insurance: Representation & Warranty Insurance in Mergers and Acquisitions
Efficient contracting depends upon imposing risk on the party with superior access to information. Yet the parties in mergers and acquisitions...
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Private Equity vs PLC Boards in the U.K.: A Comparison of Practices and Effectiveness
We interview 20 executives in the UK who have been members of both PE and PLC boards of relatively large companies. The main difference we find in PE and PLC...
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The Effect of Institutional Investors' Voice on the Terms and Outcome of Freeze-out Tender Offers
We study the impact of institutional investors' “voice” on 201 going private tender offers by controlling shareholders ("freeze-out" offers) in...
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Do Managers Manipulate Earnings Prior to Management Buyouts?
To address the question as to whether managers manipulate accounting numbers downwards prior to management buyouts (MBOs), we implement an...
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Leveraged Buyouts: An Overview of the Literature
This paper provides an exhaustive literature review of the motives for public-to-private LBO transactions. First, the paper develops the theoretical...
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