1 Corporate Governance and Value Creation : Evidence from Private Equity 1 by Viral

@inproceedings{Acharya20081CG,
  title={1 Corporate Governance and Value Creation : Evidence from Private Equity 1 by Viral},
  author={Viral Acharya},
  year={2008}
}
We examine deal-level data on private equity transactions in the UK initiated during the period 1996 to 2004 by mature private equity houses. We un-lever the deal-level equity return and adjust for (un-levered) return to quoted peers to extract a measure of "alpha" or out-performance of the deal. The alpha out-performance is significant on average and robust during sector downturns. In the cross-section of deals, alpha is related to enterprise-level operating performance, especially to greater… CONTINUE READING

References

Publications referenced by this paper.
SHOWING 1-10 OF 26 REFERENCES

Value Creation and Corporate Governance in Leveraged Buy-outs

E. Nikoskelainen, M.. Wright
  • Journal of Corporate Finance,
  • 2007
VIEW 4 EXCERPTS
HIGHLY INFLUENTIAL

Forthcoming

J. Lerner, A. Schoar, W. Wong.
  • “Smart Institutions, Foolish Choices? The Limited Partner Performance Puzzle.” Journal of Finance.
  • 2007