Private Equity, Leveraged Buyouts and Governance
Douglas J. Cumming
York University - Schulich School of Business
Nottingham University Business School
Donald S. Siegel
University at Albany, SUNY
Journal of Corporate Finance, Vol. 13, pp. 439-460
This paper provides an overview of the literature on private equity and leveraged buyouts, focusing on global evidence related to both governance and returns to private equity and leveraged buyouts. We distinguish between financial and real returns to this activity, where the latter refers to productivity and broader performance measures. We also outline a research agenda on this topic.
Number of Pages in PDF File: 43
Keywords: management buyouts, private equity, total factor productivity, financial and real returns, corporate governance
JEL Classification: G34, G32Accepted Paper Series
Date posted: May 2, 2007 ; Last revised: September 10, 2008
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