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Organizational Structure and Earnings Quality of Private and Public Firms

Bonacchi, Massimiliano - 2019

comparison between public and private firm earnings quality. This comparison matters, because it attests to the net effects of …

Persistent link: https://www.econbiz.de/10012902663

Do Public and Private Firms Behave Differently? An Examination of Investment in the Chemical Industry

Sheen, Albert - 2019

I compare the U.S. capacity expansion decisions of public and private producers of seven commodity chemicals from 1989-2006. I find that private firms invest differently than public firms. Private firms are more likely than public firms to increase capacity prior to a positive demand shock (an...

Persistent link: https://www.econbiz.de/10012903255

Covenant Violations, Collateral and Credit Access : Public and Private Firms

Barakova, Irina - 2018

We study the impact of covenant violations on credit access for privately-held and publicly-traded firms, using a rich supervisory dataset of syndicated loans from 2006-2012. Leveraging the unique information on covenant compliance, collateral and default risk in the data, we show that banks are...

Persistent link: https://www.econbiz.de/10012936200

Organizational Structure and Earnings Quality of Private and Public Firms

Bonacchi, Massimiliano - 2019

important unexplored factor in the study of private firms, affecting the comparison between public and private firm earnings …

Persistent link: https://www.econbiz.de/10012867561

Private Equity Monitoring in Public Firms

Petry, Stefan - 2015

This paper finds private equity (PE) firms to have an active monitoring role in stock market-listed companies. Little is known about the governance role of PE investors in publicly listed firms. Using a novel dataset of the ownership structures of firms listed on the German stock market, I find...

Persistent link: https://www.econbiz.de/10013021744

A Spark from the Public Sector : Co-Lending by Government-Owned and Private-Sector Lenders

Fotak, Veljko - 2016

Co-lending by private-sector and government-owned lenders accounts for nearly one-tenth of all syndicated-loan funding to corporate borrowers over the three decades spanning 1980 to 2010. I find evidence that private-sector institutions co-lend with government-owned lenders to benefit from...

Persistent link: https://www.econbiz.de/10012986231

The Secular Decline in Private Firm Leverage

Dobridge, Christine L.; Gilje, Erik P.; Whitten, Andrew - National Bureau of Economic Research - 2022

Using firm-level administrative tax data on the 43% of business liabilities in the United States tied to privately held firms, we document dramatic reductions in leverage since the Great Recession. Leverage for the average private firm fell fifteen percent between 2004 and 2018. In contrast,...

Persistent link: https://www.econbiz.de/10013210062

Does Public Firms’ Mandatory IFRS Reporting Crowd Out Private Firms’ Capital Investment?

Liu, Jiancheng (Duncan); Shi, Wei; Zeng, Cheng (Colin); … - 2023

We investigate how the mandatory adoption of International Financial Reporting Standards (IFRS) by publicly listed firms in the European Union affects peer private firms. We find that private firms’ capital investment decreases significantly after the IFRS mandate, relative to public firms....

Persistent link: https://www.econbiz.de/10014350647

The motives for issuing exchangeable bonds in the privatization of state-owned enterprises

Kaźmierczak, Damian - In: Comparative economic research : Central and Eastern Europe 26 (2023) 2, pp. 33-49

investigates the role of hybrid debt in the privatization of state‑owned enterprises (SOEs) via government‑controlled investment … in Europe and Asia. Moreover, in some cases, the privatization of SOEs by means of exchangeables can prove to be a more … shareholders. Third, the entire privatization process tends to be more flexible for issuers in that they can perceive exchangeables …

Persistent link: https://www.econbiz.de/10014339792

Underpricing of venture-backed and non venture-backed IPOs : Germany's Neuer Markt

Franzke, Stefanie A. - 2003 - This version: November 6, 2003

This paper analyzes a comprehensive data set of 160 non venture-backed, 79 venture-backed and 61 bridge financed companies going public at Germany´s Neuer Markt between March 1997 and March 2002. I examine whether these three types of issues differ with regard to issuer characteristics, balance...

Persistent link: https://www.econbiz.de/10009767675