Secondary Buyouts

Leveraged Buyouts in Poland

Leveraged Buyouts and Private Equity

Steven N. Kaplan is Neubauer Family Professor of Entrepreneurship and Finance, University of Chicago Graduate School of Business, Chicago, Illinois. Per Strömberg is Professor of Finance at the Stockholm School of Economics and Director of the Swedish Institute of Financial Research (SIFR), both in Stockholm, Sweden. Both authors are also Research Associates, National Bureau of Economic Researc...

Spectrum Buyouts A Mechanism to Open Spectrum

The “shortage” of radio spectrum is usually attributed to the scarcity of spectrum, but it is due to the inefficiency of radio technologies and spectrum management. Regulatory reforms are being proposed to assign exclusive rights to spectrum, but such reforms would be harmful because the spectrum is not a property but a protocol by which information is carried. New packet radio technologies ena...

The performance of reverse leveraged buyouts ¬リニ

Reverse leveraged buyouts (RLBOs) have received increased public scrutiny but attracted little systematic study. We collect a comprehensive sample of 526 RLBOs between 1981 and 2003 and examine the three-year and five-year stock performance of these offerings. RLBOs appear to perform as well as or better than other initial public offerings and the stock market as a whole, depending on the speci...

The Real Effects of Private Equity Buyouts

Private equity buyouts have become a common element in the industrial development process. I survey the literature on the real economic effect of buyouts: employment, wages, productivity, and long-run investments. Employment tend to marginally fall after a buyout in most countries studied, with the exception being France. There are clear evidence of productivity gains following a buyout, with p...