User: Guest  Login
Document type:
Zeitschriftenaufsatz 
Author(s):
Achleitner, A.K.; Braun, R.; Hinterramskogler, B.; Tappeiner, F. 
Non-TUM Co-author(s):
nein 
Cooperation:
Title:
Structure and Determinants of Financial Covenants in Leveraged Buyouts - Evidence from an Economy with Strong Creditor Rights 
Abstract:
This paper provides a detailed view of the structure and determinants of financial covenants in leveraged buyouts (LBOs). Our analysis is based on the proprietary credit documentation of 130 LBOs from Germany, an institutional setting with strong creditor rights where financial covenants are subject to rigorous ex-ante negotiations. The sample includes 23 (66) lead arrangers (private equity sponsors) who largely act on an international basis. We first analyze the covenant structure in sponsored...    »
 
Keywords:
More standardized covenants in sponsored loans; Restrictiveness unclear 
Intellectual Contribution:
Discipline-based Research 
Journal title:
Review of Finance 
Journal listet in FT50 ranking:
Review of Finance 
Year:
2011 
Key publication:
Ja 
Peer reviewed:
Ja 
International:
Ja 
Book review:
Nein 
Commissioned:
not commissioned 
Professional Journal:
Nein 
Interdisciplinarity:
Nein 
Mission statement:
versions