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dc.contributor.authorBrinkhuis, Samantha
dc.contributor.authorDe Maeseneire, Wouter
dc.date.accessioned2017-12-02T14:33:16Z
dc.date.available2017-12-02T14:33:16Z
dc.date.issued2009
dc.identifier.urihttp://hdl.handle.net/20.500.12127/3504
dc.description.abstractThis paper examines leverage in European private equity led LBOs. We use a unique, self constructed sample of 126 European private equity (PE) sponsored buyouts completed between June 2000 and June 2007. We find that determinants derived from classical capital structure theories do not explain leverage in LBOs, while they do drive leverage in a control group of comparable public firms. Rather, we document that leverage levels in LBOs are related to the prevailing conditions in the debt market. In addition, our results indicate that reputed private equity sponsors use more debt and that secondary buyouts have higher leverage levels.
dc.language.isoen
dc.language.isoen
dc.subjectCapital Structure
dc.subjectMergers & Acquisitions
dc.subjectBuyouts
dc.subjectLBO
dc.subjectFinancial Flexibility
dc.titleWhat drives leverage in leveraged buyouts? An analysis of European LBOS' capital structure
refterms.dateFOA2019-10-14T12:44:42Z
dc.source.issue31
dc.source.numberofpages55
vlerick.knowledgedomainAccounting & Finance
vlerick.supervisor
vlerick.typecommWorking paper
vlerick.vlerickdepartmentA&F
dc.identifier.vperid140410
dc.identifier.vperid40574
dc.identifier.vpubid3997


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