Chou, De-Wai; Gombola, Michael; Liu, Feng-Ying - In: The Quarterly Review of Economics and Finance 49 (2009) 3, pp. 1113-1128
Our results show that the post-offering performance of private equity issuers is related to growth opportunities. We find significant long-run underperformance in stock returns following private placements only for firms with high Tobin's q. High-q firms experience not only poor stock price...