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Literature review on LBOs and private equity. Researchers have explored the following in relation to PTP transitions (table 4):
*Eddey et al (1996): Takeover threat
*Evans et al (2002): Liquidity, growth rate, leverage, R&D
*Weir et al (2005a): CEO ownership share, institutional ownership share, CEO Board Chair duality
In addition, should consider difference between hedge fund and private equity-financed buyouts (hedge funds less hands-on).
====Opler and Titman 1993====