Borrow Cheap, Buy High? The Determinants of Leverage and Pricing in Buyouts

By Ulf Axelson, T. Jenkinson, Per Strömberg, Michael S. Weisbach. 2012

402 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/dc94059f4aaf3b25f7571d72aaff0017379030ef

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Citations in the corpus

Do private equity owners increase risk of financial distress and bankruptcy (2012, methodology): “The results in Column (6) indicate that experienced PE investors decrease the likelihood of bankruptcy relative to non-buyout control companies.”
Venture Capital and Other Private Equity: A Survey (2011, neutral): “(Axelson et al. 2010) show that LBO firms’ leverage levels are not explained well by those of their public-market industry peers.”
The role of venture capital in the emerging entrepreneurial finance ecosystem: future threats and opportunities (2019, neutral): “investments are highly cyclical, making the performance achieved by the funds’ subscribers more volatile and suboptimal (Gompers and Lerner 2001; Kaplan and Schoar 2005; Axelson et al. 2013).”
Did Securitization Affect the Cost of Corporate Debt (2011, neutral): “We would like to thank Heitor Almeida, Murillo Campello, Jennifer Dlugosz, Isil Erel, and participants in seminars at Brigham Young University and Ohio State University for helpful suggestions.”
Incentives to Innovate and the Decision to Go Public or Private (2014, background): “6 Axelson et al. (2010) provide evidence that buyout activity increases in periods of low interest rates and that, in such periods, shareholders of target firms are able to sell their shares at higher premiums.”
Cyclicality, performance measurement, and cash flow liquidity in private equity (2016, neutral): “Our work also contributes to the literature studying aspects of cyclicality in private equity (cf., in addition to the works cited above, Gompers et al. (2008), Axelson et al. (2009), and Axelson et al. (2012)).”