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→Weir 2005
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Considers public to private transitions of non-financial firms in UK (1998-2000) compared to matched controls (by size and industry). This includes management buyouts as well as LBOs. Finds the following relations:
*US and UK PTPs are unrelatedhave different causes, probably due to tax differences with respect to debt versus equity financing.
*Identifies three hypotheses: market for corporate control, incentive alignment, and monitoring.
**Market for corporate control: Free cash control, threat of takeover insignificant
