| Abstract |
In this paper, we investigate how management team characteristics might influence LBO syndication decision, which might be able to alleviate risks and uncertainties arising from the pre-deal screening and the post-deal value-added services. By using a unique hand-collected dataset, we find that investment size and geographic distance matter for syndication decision. Moreover, management teams dominated by consulting experience and higher homogeneity in education background are prone to syndication. In contrast, teams dominated by business degrees are not.
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