NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Leveraged Buyouts and Private Equity

Steven N. Kaplan, Per Strömberg

NBER Working Paper No. 14207
Issued in July 2008
NBER Program(s):   CF

We describe and present time series evidence on the leveraged buyout / private equity industry, both firms and transactions. We discuss the existing empirical evidence on the economics of the firms and transactions. We consider similarities and differences between the recent private equity wave and the wave of the 1980s. Finally, we speculate on what the evidence implies for the future of private equity.

download in pdf format
   (406 K)

email paper

This paper is available as PDF (406 K) or via email.

Machine-readable bibliographic record - MARC, RIS, BibTeX

Document Object Identifier (DOI): 10.3386/w14207

Published: Steven N. Kaplan & Per Stromberg, 2009. "Leveraged Buyouts and Private Equity," Journal of Economic Perspectives, American Economic Association, vol. 23(1), pages 121-46, Winter. citation courtesy of

Users who downloaded this paper also downloaded these:
Ljungqvist, Richardson, and Wolfenzon w14180 The Investment Behavior of Buyout Funds: Theory and Evidence
Guo, Hotchkiss, and Song w14187 Do Buyouts (Still) Create Value?
Cao and Lerner w12626 The Performance of Reverse Leveraged Buyouts
Ljungqvist and Richardson w9454 The cash flow, return and risk characteristics of private equity
Moskowitz and Vissing-Jorgensen w8876 The Returns to Entrepreneurial Investment: A Private Equity Premium Puzzle?
 
Publications
Activities
Meetings
NBER Videos
Data
People
About

Support
National Bureau of Economic Research, 1050 Massachusetts Ave., Cambridge, MA 02138; 617-868-3900; email: info@nber.org

Contact Us