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Title:

Structure and determinants of financial covenants in leveraged buyouts

Document type:
Zeitschriftenaufsatz
Author(s):
Achleitner, A.K.; Braun, R.; Hinterramskogler, B.; Tappeiner, F.
Non-TUM Co-author(s):
nein
Cooperation:
-
Abstract:
We use a proprietary dataset to explore (i) the financial cove nant structure and (ii) the determinants of their restrictiveness in levera ged buyouts. With respect to (i) we find that the covenant structure is more standardized in s ponsored than in non-sponsored loans: the former show less variation in the in cluded types and combinations of covenants and include more financial covenants than the latter. With resp ect to (ii) we measure financial covenant restrictiveness precisely as th e dist...     »
Intellectual Contribution:
Discipline-based Research
Journal title:
Review of Finance
Journal listet in FT50 ranking:
Review of Finance
Year:
2012
Journal volume:
16
Journal issue:
3
Pages contribution:
647-684
Print-ISSN:
1572-3097
Judgement review:
0
Key publication:
Nein
Peer reviewed:
Ja
International:
Ja
Book review:
Nein
Commissioned:
not commissioned
Professional Journal:
Nein
Interdisciplinarity:
Ja
Mission statement:
;
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