Capital Structure Decisions in Institutional Buyouts
Paperback Engels 2006 9783835002296Samenvatting
Christian Kühn explores the impact of institutional buyouts (IBOs) characteristics on the transaction's capital structure and examines the robustness of established theories in a context which deviates substantially from most empirical studies. With regard to capital structure theories the identified relationships suggest a renaissance of the static trade-off theory while the relevance of the agency theory could only be confirmed in part. However, it appears that agency cost of debt assume a more influential role than do agency cost of equity.
Specificaties
Lezersrecensies
Inhoudsopgave
Overview of corporate finance theories, the trade-off between taxes and financial distress, capital structure and agency conflicts
IBO financing layers
Hypothesis of IBO capital structures and operationalisation of variables
Empirical results on IBO capital structures
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