The Private Equity Advantage: Leveraged Buyout Firms and Relationship Banking

By Victoria Ivashina, A. Kovner. 2011

275 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/17c990ef2d13465130659a7f49fc94fbabb3a6e8

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Citations in the corpus

Borrow Cheap, Buy High? The Determinants of Leverage and Pricing in Buyouts (2012, unknown): “Also, previous research, such as Demiroglu and James (2010) and Ivashina and Kovner (2011) present evidence suggesting that more reputable private equity funds have easier and cheaper access to debt.”
Giants at the Gate: Investment Returns and Diseconomies of Scale in Private Equity (2015, unknown): “Other related papers in venture capital also analyze the trade-off between portfolio size and diversification (Kanniainen and Keuschnigg (2003), Bernile, Lyandres, and Cumming (2007), Bottazzi, Da Rin, and Hellmann (2008), Fulghieri and Sevilir (2009), Gompers, Kovner, Lerner, and Scharfstein (2008)”
Why Do Loans Contain Covenants? Evidence from Lending Relationships (2017, unknown): “For example, if the loan is used to finance a leveraged buy-out, the debt to EBITDA covenant is likely to be most important (Ivashina and Kovner, 2011).”
Venture Capital and Other Private Equity: A Survey (2011, unknown): “Their findings on market timing and pricing power echo parallel findings on VC in (Hsu 2004) and (Gompers et al. 2008).30 (Ivashina and Kovner 2010) document that BO firms with stronger bank relationships obtain better spreads and covenant terms.”
Estimating Private Equity Returns from Limited Partner Cash Flows (2014, background): “33 Prior researchers have noted the connection between low interest rates and buyout fundraising (see Axelson et al. (2013), Ivashina and Kovner (2011), Demiroglu and James (2010)).”
Financial Repression in the European Sovereign Debt Crisis (2017, unknown): “In particular, Bharath et al. (2011) and Ivashina and Kovner (2011) examine the importance of repeated borrowing from the same lender for firms using the syndicated loan market.”
Do private equity owners increase risk of financial distress and bankruptcy (2012, background): “It may be easier for experienced PE investors to react when a company gets into financial difficulties because they obtain loans on more favorable conditions than their inexperienced counterparts (e.g., Demiroglu and James, 2010; Ivashina and Kovner, 2011).”