This paper empirically investigates the financial characteristics that differentiate firms that go private from firms that remain publicly quoted. Using the multiple discriminant analysis, the study finds that operating profit margin, return on equity, cash per share, controlling shareholding,...

This paper examines the impact of privatization on stock market size and liquidity in a multinational sample of 31 emerging markets. We find that the intensity of privatization and the use of privatization offerings on the stock market contribute to enhance stock market development (market...

In this paper we consider the role of private equity for growth and restructuring processes, through the analysis of a comprehensive dataset of European going private deals during the period 1998-2007, for which we explore the post-transaction operating performance of companies gone private and...

Disclosure in going private transactions has become a topic of increasing interest for regulators and policymakers. Going private transactions are subject to special SEC rules that mandate management to provide detailed disclosure to all shareholders before a general vote. We examine the role of...