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Liquidity Externalities and Buyout Delisting Activity

Gaspar, Jose-Miguel - 2009

firms in the same industry as the LBO target drops during the month of the LBO delisting. This temporary decrease is …

Persistent link: https://www.econbiz.de/10013157683

The Role of Disclosure in Closing Going Private Deals

Bianchi, Pietro A. - 2020

There is a perceived conflict of interests in going private transactions, resulting fromtransferring a company's ownership and control to affiliated parties and terminatingits public status. These deals are subject to mandatory disclosure requirements, aimedto inform shareholders before the...

Persistent link: https://www.econbiz.de/10012851710

Going Private and Innovation

Demir, Tolga - 2019

In this paper, we investigate how going private affects corporate innovation activities. We compare the innovation activities of firms that went private to the innovation activities of firms that received a going-private offer but stayed as public for reasons unrelated to innovation. Using...

Persistent link: https://www.econbiz.de/10012860073

The U.S. Listing Gap

Doidge, Craig - 2015

The U.S. had 14% fewer exchange-listed firms in 2012 than in 1975. Relative to other countries, the U.S. now has abnormally few listed firms given its level of development and the quality of its institutions. We call this the “U.S. listing gap” and investigate possible explanations for it....

Persistent link: https://www.econbiz.de/10013022772

Going Private Transactions and Firm Innovation : Evidence from Japanese Management Buy-outs

Kawanishi, Takuya - 2021

This paper empirically examines the impact of exiting the stock market on corporate innovation activities using Japanese going private type MBO data. Difference-in-differences analysis in regression framework is implemented on panel data consisting of firms that conducted public-to-private MBO...

Persistent link: https://www.econbiz.de/10013235467

Going Private Transactions by U.S.-Listed Chinese Companies : What Drives the Premiums Paid?

Chen, Yea-Mow - 2015

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/10013033847

The U.S. listing gap

Doidge, Craig; Karolyi, G. Andrew; Stulz, René M. - 2016

Relative to other countries, the U.S. now has abnormally few listed firms. This “U.S. listing gap” is consistent with a decrease in the net benefit of a listing for U.S. firms. Since the listing peak in 1996, the propensity to be listed is lower for all firm size categories and industries,...

Persistent link: https://www.econbiz.de/10011772166

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

Follow the assets : is the US listing gap "real"?

Eckbo, B. Espen; Lithell, Markus - 2020

We adjust the US stock-exchange listing count for all significant transactions that move corporate assets into or out of the stock market - in particular mergers and acquisitions. In contrast to the actual listing count, the US merger-adjusted count hardly peaks over 1980--2017 and does not...

Persistent link: https://www.econbiz.de/10012174243

The Timing of Voluntary Delisting

El Kalak, Izidin - 2020

We develop a theoretical real options model that advises firms on the timing of voluntary delisting. We apply this … on the likelihood of delisting, and examine the mean differences between the GD and BD samples. Most of the mean … turnover, turnover growth and turnover volatility are largely neglected by the delisting literature, and conclude that these …

Persistent link: https://www.econbiz.de/10012845435