Using a unique dataset, we examine financial performance, and venture capital (VC) involvement in 167 MBOs exiting through IPOs (MBO-IPOs) on the London Stock Exchange, during the period 1964 -1997. VC backed MBOs seem to be more under-priced than MBOs without venture capital backing, based on...

Using a hand-collected dataset of 1,225 buy-outs, we examine post buy-out and post exit long term abnormal operating performance of UK management buy-outs, during the period 1980-2009. Our univariate and panel data analysis of post buy-out performance conclusively show positive changes in...

We examine the impact of the allocation of initial public offerings (IPOs) to specific investor groups on post-IPO performance in terms of how long an IPO remains listed. We focus on the Hong Kong IPO market, where detailed data on share allocation are publicly available. In this context, we...

For private equity (PE) firms, follow-on funds provide additional streams of management fees for a considerable time. When prospective limited partners (LPs) evaluate the performance of a PE firm’s latest funds, they have to rely on valuations reported by PE firms. The link between PE firms’...

This study examines the operating performance of privatized firms in three Central European Transition Economies between 1990 and 1998. Overall, we find no evidence of a significant improvement in operating performance for the first six years after privatization. Contrary to the increasing...