Title
Financing patterns of European BuyOuts,Used
Delivery time: 8-12 business days (International)
Product Description As BuyOuts became larger and more levered in the mid 2000's the European Leveraged Finance market experienced a wave of innovations. This research is concentrating on the capitalisation process of leveraged BuyOuts in Europe, taking the perspective of an equity investor. We embark on the quest for the optimal capital structure by constructing an integrated model based on traditionalist (irrelevance hypothesis) and modernist (tax, risky debt and costly contracting hypothesis) views. In a second step we review common terms of financing instruments used in European BuyOuts (ie. Senior debt, Mezzanine, High Yield, Preferred Equity, Equity) in the light of these theoretical insights. Finally the capitalisation process is embedded in a broader framework for value levers in BuyOut transactions and an outlook on further research is given. This research provides a solid review of relevant literature on capital structure (eg. Modigliani & Miller, Agency Theory) and can be used as an introduction for the inexperienced reader. The consistent mapping of common financing terms against relevant theoretical hypothesis is unique among related literature. About the Author Sascha Kaumann holds a Master degree in Business Administration from WHU Koblenz in Germany and an MBA from Deusto University in Spain. He is a CFA charterholder and worked for Goldman Sachs and Barclays Capital in New York, London and Frankfurt
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Shipping & Returns
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We ship your order within 2–3 business days for USA deliveries and 5–8 business days for international shipments. Once your package has been dispatched from our warehouse, you'll receive an email confirmation with a tracking number, allowing you to track the status of your delivery.
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We provide a 2-year limited warranty, from the date of purchase for all our products.
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This warranty strictly does not cover damages that arose from negligence, misuse, wear and tear, or not in accordance with product instructions (dropping the product, etc.).
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Your payment information is processed securely. We do not store credit card details nor have access to your credit card information.
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Visa, MasterCard, American Express, Paypal, Shopify Payments, Shop Pay and more.