We examine management buy-out (MBO) transactions announced from 2003-2009 in order to study the wealth effects of MBOs and the role of process. We find that there is “value” in corporate process. MBO offer premiums are positively associated with competitive contracts and the existence of...

We examine management buy-out ("MBO") transactions announced from 2003-2009 in order to study the wealth effects of MBOs and the role of process. We find that there is "value" in corporate process. MBO offer premiums are positively associated with competitive contracts and the existence of...

We examine firm lifecycles of 3,081 IPOs from 1996-2012. We find that small IPOs have a different lifecycle than other, larger companies. Within five years of an IPO, only 55% of small IPOs remain listed on a public exchange, compared to 61.3% and 67.1% for middle and large capitalized...