Leveraged Buyouts and Control Oriented Investments in Asia

Abstract

This chapter contributes to the new body of research on Asian private equity markets. We describe the institutional development of Asian LBO markets, drawing on historical comparative studies. Financial returns to Asian LBOs and growth investments are analyzed with reference to returns to going private transactions and realized private equity investments. Finally, we present evidence on governance and operational change in Asian LBOs using a new dataset comprising company-level data across all major Asian economies.

Keywords: Leveraged buyouts, Private equity, Asia

JEL Classification: G24, G34