Essays on Private Equity

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Essays on Private Equity

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dc.contributor.author Vinten, Frederik Christian en_US
dc.date.accessioned 2009-02-04T10:28:09Z
dc.date.available 2009-02-04T10:28:09Z
dc.date.issued 2008-04-30T00:00:00Z en_US
dc.identifier.isbn 9788759383469 en_US
dc.identifier.uri http://hdl.handle.net/10398/7682
dc.description.abstract We study the impact of stock market valuations on delistings from European stock exchanges 1996-2004. Previous research has found that mergers and acquisitions (M&A) occur more often when market valuations are high. This is paradoxical since it implies that companies are more likely to engage in M&A when it is most expensive. In accordance with prior research we find that delistings by mergers and acquisitions are more likely when industry market-to-book values (q) are high. In contrast, we find no effect of industry q on going private transactions. The data also suggest that M&A are more likely to take place in bull years while going private transactions are relatively more likely in bear years. Our study is the first comprehensive study of delistings in Europe and the first study to demonstrate that going private transactions appear to be driven by different causal mechanisms than M&A. en_US
dc.format.extent 181 en_US
dc.language eng en_US
dc.relation.ispartofseries Ph.d.serie;1 en_US
dc.subject.other ph.d.-afhandlinger en_US
dc.title Essays on Private Equity en_US
dc.type phd en_US
dc.accessionstatus modt30april08 ligamo en_US
dc.contributor.corporation Copenhagen Business School. CBS en_US
dc.contributor.department Økonomisk Institut en_US
dc.contributor.departmentshort ECON en_US
dc.contributor.departmentuk Department of Economics en_US
dc.contributor.departmentukshort ECON en_US
dc.idnumber 9788759383469 en_US
dc.publisher.city København en_US
dc.publisher.year 2008 en_US


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