Lerner, Josh; Strömberg, Per; Sörensen, Morten - Institute for Financial Research (SIFR) - 2009
A long-standing controversy is whether LBOs relieve managers from short-term pressures from public shareholders, or whether LBO funds themselves are driven by short-term profit motives and sacrifice long-term growth to boost short-term performance. We investigate 495 transactions with a focus on...