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The Structure of Debt and Active Equity Investors: The Case of The Buyout Specialist
This paper examines the role buyout specialists play in structuring the debt used to finance the LBO and in monitoring management in the post-LBO firm. We find that when buyout specialists controlExpand
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Upheaval in the Boardroom: Outside Director Public Resignations, Motivations, and Consequences
We investigate the motives and circumstances surrounding outside directors' decisions to publicly announce their board resignations. Directors who leave "quietly" are in their mid-sixties andExpand
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The Structure of Debt and Equity Financing and the Likelihood of Subsequent Default in Leveraged Buyouts
This study investigates the structure of the debt and equity financing for a sample of leveraged buyouts for the period 1984 to 1989. We find that as the average maturity of the debt increases, theExpand
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This study investigates whether block acquisitions lead to changes in board and CEO compensation characteristics and finds that block purchasers do not play a significant role in improving the firm’sExpand
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Cost Savings and What Really Matters
In the department of “not seeing the forest for the trees”, something very odd happened a number of years ago to our investment culture despite good research on the topic. In 1986, Gary P. Brinson,Expand
30,000 Products
Diversification, as a principle of risk reduction, is an old concept. To attach a date to it, we would have to go back several hundred years in history. For today’s modern board, however, it is aExpand
Farewell to Uncle Milt
Though socially responsible investing (SRI) has been around for as long as portfolio diversification, if not longer, its widespread and transformative effect on investing culture did not begin toExpand