Brinkhuis, S; De Maeseneire, W. - Vlerick Business School - 2010
This paper examines leverage in European private equity led LBOs. We use a unique, self-constructed sample of 126 … from classical capital structure theories do not explain leverage in LBOs, while they do drive leverage in a control group … of comparable public firms. Rather, we document that leverage levels in LBOs are related to the prevailing conditions in …