Buyouts, especially leveraged buyouts, have been perceived historically as on organizational efficiency tool to streamline organizational processes, reduce workforces, and decrease unit costs. This efficiency approach has been especially useful with mature firms, where the structure of debt and...

This paper investigates how far UK public to private transactions can be explained by financial distress costs or incentive realignment. We find that firms going private are more likely to be smaller, more diversified, younger and have lower Q ratios than firms remaining public. The results...

Using a dataset comprising 88 Private Equity (PE) backed Leveraged Buyouts (LBOs) completed and exited during the period 1999-2008, this study sheds new light on the impact of buyout vendor source and PE investor experience on post-buyout efficiency during the first 3 years after the...