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Rosenbaum, Joshua - 2013 - 2nd ed.

Investment Banking FOCUS NOTES provides a comprehensive, yet streamlined, review of the basic skills and concepts discussed in Investment Banking: Valuation, Leveraged Buyouts, and Mergers & Acquisitions, Second Edition. The focus notes are designed for use both as a companion to the book, as...

Persistent link: https://www.econbiz.de/10013266154

Leveraged Buyouts of Private Companies

Chung, Ji-Woong - 2011

Over the last two decades, the number (enterprise value) of leveraged buyout transactions involving privately held targets totals more than 10,000 (over $850 billion), accounting for 46% (21%) of the worldwide leveraged buyout market. Yet the vast majority of academic studies focus on the...

Persistent link: https://www.econbiz.de/10013121841

The Impact of Sarbanes-Oxley on Market Efficiency : Evidence from Mergers and Acquisitions Activity

Chelikani, Surya - 2011

One of the main goals of the Sarbanes Oxley Act of 2002 (SOX) is to ensure a greater flow of timely and accurate accounting information to investors. While there has been a lot of criticism of SOX, mostly with regard to compliance costs, very little light has been shed on the impact of SOX on...

Persistent link: https://www.econbiz.de/10013122826

CEO Turnover in Private Equity Sponsored Leveraged Buyouts

Gong, James Jianxin - 2011

Research Question/Issue: We examine the governance role of private equity (PE) firms in post-LBO companies in the USA …/Insights: Using archival data from a sample of 126 PE sponsored LBOs in the USA between 1990 and 2006, we document a CEO turnover rate … firms. Our results suggest that, in the USA, PE firms provide effective corporate governance mechanisms by replacing …

Persistent link: https://www.econbiz.de/10013124676

Financial vs. Strategic Buyers

Martos-Vila, Marc - 2013

This paper introduces the impact of debt misvaluation on merger and acquisition activity. Debt misvaluation helps explain the shifting dominance of financial acquirers (private equity firms) relative to strategic acquirers (operating companies). The effects of overvalued debt might seem limited...

Persistent link: https://www.econbiz.de/10013076914

Investment banking : valuation, LBOs, M&A, and IPOs

Rosenbaum, Joshua; Pearl, Joshua - 2021 - Third Edition, University Edition

Persistent link: https://www.econbiz.de/10013259911

The positive externalities of leveraged buyouts

Feng, Hongrui; Rao, Ramesh P. - In: Journal of banking & finance 135 (2022), pp. 1-16

Persistent link: https://www.econbiz.de/10013401837

Structure and Determinants of Financial Covenants in Leveraged Buyouts

Achleitner, Ann‐Kristin - 2011

We use a proprietary dataset to explore (i) the financial covenant structure and (ii) the determinants of their restrictiveness in leveraged buyouts. With respect to (i) we find that the covenant structure is more standardized in sponsored than in non-sponsored loans: the former show less...

Persistent link: https://www.econbiz.de/10013134074

Does financing of Chinese mergers and acquisitions have "Chinese characteristics"?

Gu, Lulu; Reed, W. Robert - 2015 - Revised edition

Persistent link: https://www.econbiz.de/10011514452

Investor borrowing heterogeneity in a Kiyotaki-Moore style macro model

Punzi, Maria Teresa; Rabitsch, Katrin - 2014

TWe allow for heterogeneity in investors' ability to borrow from collateral in a Kiyotaki-Moore style macro model. We calibrate the model to match the quintiles of the distri- bution of leverage ratios of US non-financial firms. We show that financial amplification of the model with...

Persistent link: https://www.econbiz.de/10010463531