• On the Impact of Leveraged Buyouts on Bank Systemic Risk 

      Grupp, Marcel (2015-04-01)
      Although banks are at the center of systemic risk, there are other institutions that contribute to it. With the publication of the leveraged lending guideline in March 2013, the U.S. regulators show that they are especially ...
    • Taking the Lead: When Non-Banks Arrange Syndicated Loans 

      Grupp, Marcel (2015-04-01)
      In the mid-1990s, institutional investors entered the syndicated loan market and started to serve borrowers as lead arrangers. Why are non-banks able to compete for this role against banks? How do the composition of ...
    • The Influence of Leveraged Buyouts on Target Firms’ Competitors 

      Grupp, Marcel; Rauch, Christian; Umber, Marc P.; Walz, Uwe (2015-04-01)
      This paper analyzes the influence Leveraged Buyouts (LBOs) have on the operating performance of the LBO target companies’ direct competitors. A unique and hand-collected data set on LBOs in the United States in the period ...