Cumming, Douglas; Zambelli, Simona - In: Journal of Banking & Finance 37 (2013) 5, pp. 1508-1523
This study investigates the impact of excessive regulation on private equity (PE) returns and firm performance. History … empirically examines the performance of PE investments in Italy when leveraged buyouts are strictly regulated. The data show that … extreme regulation reduces not only the supply of capital, but also PE returns and firm performance, as well as the likelihood …