We study the certification role of fairness opinions in corporate transactions in a simple non-cooperative setting with asymmetric information and possibly misaligned managerial incentives, and discuss the effect of different regulatory scenarios. Specifically, we compare three settings: one in...

This paper studies the growth strategies, the operational performance and the deal performance of 357 world-wide, back-to-back buyout cycles, containing both, the Primary Buyout (PBO) and the consecutive Secondary Buyout (SBO) of the same portfolio firm between 1997 and 2012. I find that...