In this paper, we investigate a primary potential impact of leveraged buyout (LBOs) transactions: the effects of LBOs on the peers of the LBO target in the same industry. Using a data sample based on US LBO transactions between 1985 and 2016, we investigate the impact of the peer firms in the...

Using intellectual property rights (IPR) as collateral to secure debt financing can form a promising strategy, in particular for small, financially constrained firms. Despite an ongoing shift to a more technology-based economy, the collateralizing of IPR is still trailing behind the use of...

In this paper, we investigate a primary potential impact of leveraged buyout (LBOs) transactions: the effects of LBOs on the peers of the LBO target in the same industry. Using a data sample based on US LBO transactions between 1985 and 2016, we investigate the impact of the peer firms in the...

Private equity managers are required to invest in the funds they manage. We examine the incentive effects of this ownership on the delegated acquisition decision. A simple model shows that managers select less risky firms and apply more debt, the higher their fund ownership. We test these...

We investigate the differential effect of the COVID‐19 shock on the share prices of firms with different levels of ESG (environmental, social and governance) scores. Thereby, we analyse whether and to what extent higher ESG ratings provided insurance for investors in the stocks of those firms...

We investigate the differential effect of the COVID-19 shock to the stock market shock on the share prices of firms with different levels of ESG (Environmental, Social and Governance) scores. Thereby, we analyse whether and to what extent better ESG ratings provided insurance for investors in...

We analyze the impact of decreases in available lending resources on quantitative and qualitative dimensions of firms' patenting activities. We thereby make use of the European Banking Authority's capital exercise to carve out the causal effect of bank lending on firm innovation. In order to do...

Many industries, in particular high-tech industries, have experienced the (re-)emergence of patent pools that potentially co-exist with each other. In this paper, we provide a theoretical framework which allows us to understand the main determinants of co-existing patent pools. In this...