Achleitner, Ann-Kristin; Braun, Reiner; Tappeiner, Florian - 2009
We apply control rights theory to explain the structure and determinants of financial covenants in private equity backed leveraged buyouts. We analyze 130 German transactions from 2000 to 2008, covering about 40 percent of the LBO market during this period. We consider Germany to be a superior...