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LBO Lit Review (view source)

346 bytes added , 11:02, 21 June 2016

===Annotated===

====Lehn and Poulsen 1989====

@article{lehn_free_1989,

pages = {771--787}

}

Supports free cash flow hypothesis.

Data:

*PTP sample from Wall Street Journal Index (1980 through 1989)- see Appendix in paper

*Firm characteristics from COMPUSTAT

Variables:

*CF = INC-TAX-INTEXP-PFDDIV-COMDIV

*CF/EQUITY

*Lagged SALESGR

*TAX/EQUITY

*FOOTSTEPS (=1 if competing bid or takeover speculation in WSJ)

*Low cash flow, high q

*Diversified, low q

===Unsorted===

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