Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/147750
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dc.titleMANAGERIAL ABILITY AND ITS IMPACT ON LEVERAGED BUYOUTS
dc.contributor.authorLOH WEI YANG
dc.date.accessioned2018-09-26T08:56:53Z
dc.date.available2018-09-26T08:56:53Z
dc.date.issued2014
dc.identifier.citationLOH WEI YANG (2014). MANAGERIAL ABILITY AND ITS IMPACT ON LEVERAGED BUYOUTS. ScholarBank@NUS Repository.
dc.identifier.urihttp://scholarbank.nus.edu.sg/handle/10635/147750
dc.description.abstractThis study examines the role of managerial ability in leveraged buyouts decision. We find evidence among 525 leveraged-buyout firms that managerial ability is negatively-related to the decision of leveraged buyouts. Furthermore, we find little evidence that managerial ability predicts premium paid, which suggests that while managerial ability is an important factor in the LBO decision, other factors affect premiums. Surprisingly, we don’t find evidence that managerial ability has predictive powers in determining CEO turnover of acquired firms. Our results is consistent with Jensen agency cost of free cash flow problem, and suggest that PE firms help improve corporate governance of firms.
dc.typeThesis
dc.contributor.departmentNUS Business School
dc.contributor.supervisorEMIR HRNJIC
dc.description.degreeBachelor's
dc.description.degreeconferredBACHELOR OF BUSINESS ADMINISTRATION WITH HONOURS
Appears in Collections:Bachelor's Theses

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