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Private equity's unintended dark side : on the economic consequences of excessive delistings
Ljungqvist, Alexander; Persson, Lars; Tåg, Joacim - 2016
popular support for business-friendly policies. This can lead to long-term reductions in aggregate investment, productivity …
Persistent link: https://www.econbiz.de/10011436675
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U.S. Exchange Upgrades : Reducing Uncertainty Through a Two-Stage IPO
Cole, Rebel A. - 2018
We examine the effects on IPO uncertainty of an alternative going-public mechanism - the two-stage IPO, where a firm first gets quoted on the OTC market, and then upgrades to a national exchange where it first issues public equity. We find that a two-stage IPO firm experiences lower underpricing...
Persistent link: https://www.econbiz.de/10012935880
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Private matters
Helwege, Jean; Packer, Frank - In: Journal of financial intermediation 18 (2009) 3, pp. 362-383
Persistent link: https://www.econbiz.de/10003878942
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Bank capital and value in the cross section
Mehran, Hamid; Thakor, Anjan V. - 2009
capital requirements, too-big-to-fail, target profitability, risk, and mechanical effects. -- Bank capital ; bank value …
Persistent link: https://www.econbiz.de/10003947552
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Consistent valuation of project finance and LBO's using the flows-to-equity method
Cooper, Ian; Nyborg, Kjell G. - 2010
A common method of valuing the equity in highly leveraged transactions is the flows-to-equity method. When applying this method various formulas can be used to calculate the time-varying cost of equity. In this paper we show that some commonly used formulas are inconsistent with the assumptions...
Persistent link: https://www.econbiz.de/10008797682
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Going public - going private : the case of VC-backed firms
Gill, Andrej; Walz, Uwe - 2012
We investigate the decisions of listed firms to go private once again. We start by revealing that while a significant number of firms which go public is VC-backed, an overproportional share of these VC-backed firms go private later on (they stay on the exchange for an average of 8.5 years). We...
Persistent link: https://www.econbiz.de/10009488848
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Is rated debt arm's length? : evidence from mergers and acquisitions
Gropp, Reint; Hirsch, Christian; Krahnen, Jan Pieter - 2011
borderline between investment grade and junk. Finally, we are able to empirically exclude a large number of alternative …
Persistent link: https://www.econbiz.de/10008934787
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Empirical research on corporate credit-ratings : a literature review
Matthies, Alexander B. - 2013
We report on the current state and important older findings of empirical studies on corporate credit ratings and their relationship to ratings of other entities. Specifically, we consider the results of three lines of research: The correlation of credit ratings and corporate default, the...
Persistent link: https://www.econbiz.de/10009681828
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Do U.S. Insurance Firms Offer the 'Wrong' Incentives to Their Executives?
Milidonis, Andreas - 2011
We examine the relation between executive compensation and market-implied default risk for listed insurance firms from … 1992-2007. Shareholders are expected to encourage managerial risk-sharing through equity-based incentive compensation. We … find that long-term incentives and other share-based plans do not affect the default risk faced by firms. However, the …
Persistent link: https://www.econbiz.de/10013130368
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The (heterogenous) economic effects of private equity buyouts
Davis, Steven J.; Haltiwanger, John C.; Handley, Kyle; … - 2022
The effects of private equity buyouts on employment, productivity, and job reallocation vary tremendously with macroeconomic and credit conditions, across private equity groups, and by type of buyout. We reach this conclusion by examining the most extensive database of U.S. buyouts ever...
Persistent link: https://www.econbiz.de/10013163171