- Series Information
- The Private Equity Contract
- Direct Investments in Private Firms by Institutional Investors: Issues And Evidence
- The Size and Internal Structure of Private Equity Firms
- Leveraged Buyouts and Public-to-Private Transactions
- Private Equity and Public Corporations
- Private Equity Governance and Financing Decisions
- Syndicate Partner Selection: who Syndicates with Whom?
- Industry Concentration, Syndication Networks, and Competition in the U.K. Private Equity Market for Management Buyouts
- A Competition Law Analysis of Private Equity “Club Deals”
- The Real Effects of Private Equity Buyouts
- Buyouts in Western European Countries: The Impact on Company Growth and Innovation
- The Limits of Private Equity: Evidence from Denmark
- Private Equity: Value Creation and Performance
- Do Private Equity Fund-of-Funds Managers Provide Value?
- Fund Size, Limited Attention, and Private Equity Valuation
- Private Equity Investors, Corporate Governance, and Performance of Ipo Firms
- The Role of Private Equity in Private Acquisitions
- Private Equity Activism and the Consequences for Targets and Rivals In Germany
- The Costs of Issuing Private Versus Public Equity for Entrepreneurial Ventures
- Risk and Return Characteristics of Listed Private Equity
- Listed Private Equity: A Genuine Alternative for an Alternative Asset Class
- Listed Private Equity and the Case of Exits
- Buyouts Around the World
- Leveraged Buyouts and Control-Oriented Investments in Asia
- Private Equity in China
Abstract and Keywords
This article discusses global buyouts. It tries to explain the international differences in buyout markets across countries, but is not concerned with the performance and investment strategies on the fund level. The first section takes a look at the buyout activity of different countries, and then it forms a relationship between buyouts, the institutional environment, and the quality of corporate governance. The following section reviews the present empirical evidence of buyout strategies that are pursued in various geographical regions. Finally, this article tries to relate the findings to the institutional environments.
Christian Andres is full professor of empirical corporate finance at WHU–Otto Beisheim School of Management in Vallendar, Germany. Before joining WHU he held appointments at the universities of Bonn and Mannheim. He holds a master's degree and a PhD from the University of Bonn. During his PhD studies, he spent several months as a visiting scholar at the University of Sheffield and at the University of Florida, Gainesville. His primary research interests are in the areas of empirical corporate finance and corporate governance. He has published in academic journals such as the Journal of Corporate Finance and the Journal of Empirical Finance.
Andre Betzer holds a bachelor's degree in economics from the University of Toulouse. He earned his master's and PhD degrees in economics from the University of Bonn. He is full professor of finance at the University of Wuppertal, Schumpeter School of Business and Economics. His research focuses mainly on issues of corporate finance and corporate governance. He has published in academic journals such as European Financial Management, Journal of Business Finance and Accounting, and Journal of Empirical Finance.
Jasmin Gider is a PhD student at the Bonn Graduate School of Economics. Before obtaining an MSc in economics at the University of Bonn, she studied philosophy and economics at the University of Bayreuth and the National University of Singapore. Her main research interests are topics in empirical corporate finance.
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