A popular view is that private equity (PE) firms tend to expropriate other stakeholders of their portfolio companies. Bonds offered during 1992-2011 by companies after their initial public offerings (IPOs) do not reflect this view. We find that yield spreads on bonds offered by PE-backed...

We expect that private firms choose a close relationship with a bank – often based on private information – in order to save on direct or proprietary costs of disclosure. For a large sample of bank relationships in 12 European countries, we find evidence that close bank relationships are...

This study aims to test empirically how contingent convertible (CoCo) bond prices are affected by the main theoretical determinants and design features. The theoretical framework used in this paper is the Equity Derivatives Model suggested by De Spiegeleer and Schoutens [2012]. We test for the...