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Cited by 486

The DOI matches its Crossref record; 41 of the 41 references it cites were found in a registry or an index.

The Determinants of Leveraged Buyout Activity: Free Cash Flow vs. Financial Distress Costs

OPLER, TIM, TITMAN, SHERIDAN·1993·The Journal of Finance
DOI 10.1111/j.1540-6261.1993.tb05138.x
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Abstract

This paper investigates the determinants of leveraged buyout (LBO) activity by comparing firms that have implemented LBOs to those that have not. Consistent with the free cash flow theory, we find that firms that initiate LBOs can be characterized as having a combination of unfavorable investment opportunities (low Tobin's q) and relatively high cash flow. LBO firms also tend to be more diversified than firms which do not undertake LBOs. In addition, firms with high expected costs of financial distress (e.g., those with high research and development expenditures) are less likely to do LBOs.

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Crossref · 10.1111/j.1540-6261.1993.tb05138.x

Cites

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Metadata

Authors
OPLER, T., & TITMAN, S.
Venue
The Journal of Finance
Publisher
Wiley
Published
1993-12
Volume
48
Issue
5
Pages
1985-1999
ISSN
  • 0022-1082 (ISSN-L)
  • 1540-6261
DOI
10.1111/j.1540-6261.1993.tb05138.x
OpenAlex
W2142202529
Cited by
486
References
41
FWCI
18.40
Type
journal article
Language
en
Open access
closed

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CoChat. (2026). Citation check: The Determinants of Leveraged Buyout Activity: Free Cash Flow vs. Financial Distress Costs. https://app.cochat.ai/papers/10.1111/j.1540-6261.1993.tb05138.x
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OPLER, T., & TITMAN, S. (1993). The Determinants of Leveraged Buyout Activity: Free Cash Flow vs. Financial Distress Costs. The Journal of Finance. https://doi.org/10.1111/j.1540-6261.1993.tb05138.x

Data sources

Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.