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| Tekijä: | Cao, J. Lerner, J. |
| Otsikko: | The performance of reverse leveraged buyouts |
| Lehti: | Journal of Financial Economics
2009 : FEB, VOL. 91:2, p. 139-157 |
| Asiasana: | stock markets initial public offerings equities |
| Vapaa asiasana: | exiting |
| Kieli: | eng |
| Tiivistelmä: | Reverse leveraged buyouts (RLBOs) have received increased public interest, yet attracted little systematic study. Based on a comprehensive sample of more than 520 RLBOs from 1981 to 2003, this stidy examines the three-year and five-year stock performance of these offerings. RLBOs seem to perform as well as or better than other initial public offerings (IPOs) and the stock market as a whole, depending on the specification. Evidence exists of a deterioration of returns over time. |
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