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Main Drivers of LBO in Asia
Sannajust, Aurélie; Khamlichi, Abdelbari El - Institut de Préparation à l'Administration et à la … - 2014
We extend the research on private equity by studying the drivers of LBO operating performance in Asia. We consider a large set of candidate drivers (financial, governance, macroeconomic, cultural, microeconomic and industry variables) and study their effects on performance over the short- and...
Persistent link: https://www.econbiz.de/10010929405
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The delisting decision: The case of buyout offer with squeeze-out (BOSO)
Martinez, Isabelle; Serve, Stéphanie - In: International Review of Law and Economics 31 (2011) 4, pp. 228-239
delisting. The passage of the FSL has strengthened the impact of these characteristics on the decision to go private. Mature … private because they cannot afford the listing status anymore. Finally, we show that the driving factors of delisting differ …
Persistent link: https://www.econbiz.de/10010576123
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Excess control, agency costs and the probability of going private in France
Belkhir, Mohamed; Boubaker, Sabri; Rouatbi, Wael - Institut de Préparation à l'Administration et à la … - 2014
The current study investigates the determinants of going private (GP) in France. It contrasts a sample of 161 firms that went private between 1997 and 2009 with a propensity-score-matched sample of firms that remained public during the same period. The results indicate that, unlike for firms...
Persistent link: https://www.econbiz.de/10010930518
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Going private transactions by U.S.-Listed Chinese companies: What drives the premiums paid?
Chen, Yea-Mow; Huang, Ying Sophie; Wang, David K.; Wu, … - In: International Review of Economics & Finance 32 (2014) C, pp. 79-91
This paper examines the premiums paid by U.S.-listed Chinese companies in going-private transactions over the period from 2010 to 2012 and tests several incentive hypotheses for taking public companies private. Apart from the factors representing perceived difficulties and potential litigation...
Persistent link: https://www.econbiz.de/10010930972
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The sources of shareholder wealth gains from going private transactions: The role of controlling shareholders
Boubaker, Sabri; Cellier, Alexis; Rouatbi, Wael - Institut de Préparation à l'Administration et à la … - 2014
The present study investigates the sources of shareholder wealth gains –as measured by cumulative abnormal returns and premiums– from going private transactions (GPTs). Using data for 314 GPTs from 18 Western European countries, we find that the announcements of GPTs generate a cumulative...
Persistent link: https://www.econbiz.de/10010754814
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Excess control, agency costs and the probability of going private in France
Belkhir, Mohamed; Boubaker, Sabri; Rouatbi, Wael - In: Global Finance Journal 24 (2013) 3, pp. 250-265
The current study investigates the determinants of going private (GP) in France. It contrasts a sample of 161 firms that went private between 1997 and 2009 with a propensity-score-matched sample of firms that remained public during the same period. The results indicate that, unlike for firms...
Persistent link: https://www.econbiz.de/10010868608
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The sources of shareholder wealth gains from going private transactions: The role of controlling shareholders
Boubaker, Sabri; Cellier, Alexis; Rouatbi, Wael - In: Journal of Banking & Finance 43 (2014) C, pp. 226-246
The present study investigates the sources of shareholder wealth gains – as measured by cumulative abnormal returns and premiums – from going private transactions (GPTs). Using data for 314 GPTs from 18 Western European countries, we find that the announcements of GPTs generate a cumulative...
Persistent link: https://www.econbiz.de/10010777124
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What do we know about delistings? A survey of the literature
Djama, Constant; Martinez, Isabelle; Serve, Stéphanie - HAL - 2012
, regarding delisting in an international context (Anglo-Saxon countries and Continental Europe). We provide a review of the … growing research on delisting based on the distinction between voluntary and involuntary delistings. For voluntary delistings … characteristics of these firms. Next, we focus on involuntary delistings: why do firms undergo a delisting (violation of stock …
Persistent link: https://www.econbiz.de/10010736419
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Why Companies Go Private in Emerging Markets? Evidence from Poland
Kowalewski, Oskar; Jackowicz, Krzysztof - EconWPA - 2005
In recent years the number of going private transactions has sharply increased in emerging markets. The purpose of this study is to establish the financial characteristics of companies that have gone private using a dataset comprising of Polish companies. We use a probit model to distinguish the...
Persistent link: https://www.econbiz.de/10005077039
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Public versus private takeovers of Australian stock exchange listed targets
Bugeja, Martin; Sinelnikov, Kosta - In: Australian Journal of Management 37 (2012) 3, pp. 391-414
In this study we investigate the association between bidding firm listing status and the abnormal returns and characteristics of target firms, in the context of Australian takeovers. Similar to the US, target abnormal returns are significantly lower in private bids. However, this difference is...
Persistent link: https://www.econbiz.de/10010604027