碩士 / 國立中興大學 / 財務金融系所 / 95 / This study investigates the tendency of firms that went private in form of leverage buyout would return to the public markets (RLBOs). Their long-run stock performance after the secondary IPO is examined. We also examine the relation between pre-LBO characteristics and post-issue long-run performance. The sample consistent of 541 LBO cases and 122 RLBOs among them happened during 1980-2004. The results show that, buyout participants, idiosyncratic risk, undervaluation, and expected growth opportunities affect the company’s decision to return to the public markets. The secondary IPOs of LBO companies outperform the matching sample and other IPOs over the five years after IPO. The growth rate of capital expenditure, size, and book-to-market ratio prior to the LBOs are associated with the long-run performance of RLBOs.
| Identifer | oai:union.ndltd.org:TW/095NCHU5304018 |
| Date | January 2007 |
| Creators | Yu-Ying Tang, 湯于瑩 |
| Contributors | Jumming Hsu, 徐俊明 |
| Source Sets | National Digital Library of Theses and Dissertations in Taiwan |
| Language | en_US |
| Detected Language | English |
| Type | 學位論文 ; thesis |
| Format | 44 |
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