Disciplining management or guiding management: aligning interests in securitized leveraged buyouts
Leveraged buyouts (LBOs) are generally explained in terms of a governance mechanism that disciplines management. It is operationalized by increasing the leverage of a firm, which has an implicit consequence of constraining management in the use of free cash flows. However, under a relatively new for...
| Main Authors: | , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
2015-01.
|
| Subjects: | |
| Online Access: | Get fulltext |