Why Similar Leveraged Buyouts Produce Divergent Outcomes: Comparative Evidence from the Korean Private Equity Market
This paper examines why leveraged buyouts (LBOs) employing similar financial structures generate divergent performance outcomes. Based on comparative case analysis of leading Korean private equity firms—MBK Partners, IMM Private Equity, and Hahn & Company—including the Homeplus, AirFirst, and K Car cases, the study arg...