Capital

Working Paper

Borrow Cheap, Buy High? The Determinants of Leverage and Pricing in Buyouts

Private equity funds pay particular attention to capital structure when executing leveraged buyouts, creating an interesting setting for examining capital structure theories. Using a large, detailed, international sample of buyouts from 1980-2008...Read more

Ulf Axelson
Tim Jenkinson
Per Strömberg
Michael Weisbach
01 March 2012

The Flight Home Effect: Evidence from the Syndicated Loan Market During Financial Crises

In the context of the global market for syndicated bank loans, we provide evidence that the collapse of international markets during financial crises can in part be explained by a flight home effect. We show that the home bias of lenders’ loan...Read more

Mariassunta Giannetti
Luc Laeven
01 May 2011

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