We examine the empirical relation between firm characteristics and the likelihood of choosing a restructuring choice between two types of leveraged buyouts: a whole-company leveraged buyout (WLBO) and a divisional leveraged buyout (DLBO). Our findings suggest that firm characteristics such as...

We test whether foreign investors price foreign exchange risk differently from local investors. Drawing from the closed-end country fund literature, we argue that both differential access to information by foreign versus local investors and different sources of exchange risk that investors face...