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| Tekijä: | Ainina, M. F. Mohan, N. K. |
| Otsikko: | When LBOs go IPO |
| Lehti: | Journal of Business Finance and Accounting
1991 : APR, VOL. 18:3, p. 393-403 |
| Asiasana: | COMPANY OWNERSHIP MANAGEMENT BUY-OUTS PUBLIC SECTOR PRIVATIZATION LITERATURE METHODOLOGY |
| Kieli: | eng |
| Tiivistelmä: | Recently several leveraged buyouts (LBOs) have returned to public status through initial public offerings (IPOs). This phenomenon (LBO-IPO) is studied here. Specifically, it examines the immediate after market returns provided by an investment in LBO-IPOs versus non LBO-IPOs. Initial trading day returns were low for both groups but smaller for LBO-IPOs. The low initial trading day return is a surprising result. A description of the LBO-IPO phenomenon and subsequent public criticism of that phenomenon are provided. A review of the initial public offering literature and a discussion of the methodology and results are given. |
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