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Why do public firms go private in the UK? The impact of private equity investors, incentive realignment and undervaluation

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  • Renneboog, Luc
  • Simons, Tomas
  • Wright, Mike

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Corporate Finance.

Volume (Year): 13 (2007)
Issue (Month): 4 (September)
Pages: 591-628

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Handle: RePEc:eee:corfin:v:13:y:2007:i:4:p:591-628

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Web page: http://www.elsevier.com/locate/jcorpfin

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References

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  21. Renneboog, L.D.R. & Szilagyi, P.G., 2006. "How do Mergers and Acquisitions Affect Bondholders in Europe? Evidence on the Impact and Spillover of Governance and Legal Standards," Discussion Paper 2006-011, Tilburg University, Tilburg Law and Economic Center.
  22. Marc Goergen & Luc Renneboog, 2004. "Shareholder Wealth Effects of European Domestic and Cross-border Takeover Bids," European Financial Management, European Financial Management Association, vol. 10(1), pages 9-45.
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  35. Aghion, Philippe & Bolton, Patrick, 1992. "An Incomplete Contracts Approach to Financial Contracting," Review of Economic Studies, Wiley Blackwell, vol. 59(3), pages 473-94, July.
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Cited by:
  1. Fonseka, M.M. & Colombage, Sisira R.N. & Tian, Gao-Liang, 2014. "Effects of regulator's announcements, information asymmetry and ownership changes on private equity placements: Evidence from China," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 29(C), pages 126-149.
  2. Chahine, Salim & Arthurs, Jonathan D. & Filatotchev, Igor & Hoskisson, Robert E., 2012. "The effects of venture capital syndicate diversity on earnings management and performance of IPOs in the US and UK: An institutional perspective," Journal of Corporate Finance, Elsevier, vol. 18(1), pages 179-192.
  3. Fidrmuc, J.P. & Roosenboom, P.G.J. & van Dijk, D.J.C., 2007. "When Do Managers Seek Private Equity Backing in Public-to-Private Transactions?," ERIM Report Series Research in Management ERS-2007-028-F&A, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus Uni.
  4. Belkhir, Mohamed & Boubaker, Sabri & Rouatbi, Wael, 2013. "Excess control, agency costs and the probability of going private in France," Global Finance Journal, Elsevier, vol. 24(3), pages 250-265.
  5. Achleitner, Ann-Kristin & Andres, Christian & Betzer, André & Weir, Charlie, 2008. "Economic consequences of private equity investments on the German stock market," CEFS Working Paper Series 2008-05, Center for Entrepreneurial and Financial Studies (CEFS), Technische Universität München.
  6. Constant Djama & Isabelle Martinez & Stéphanie Serve, 2012. "What do we know about delistings? A survey of the literature," THEMA Working Papers 2012-38, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
  7. Nikoskelainen, Erkki & Wright, Mike, 2007. "The impact of corporate governance mechanisms on value increase in leveraged buyouts," Journal of Corporate Finance, Elsevier, vol. 13(4), pages 511-537, September.
  8. Bajo, Emanuele & Barbi, Massimiliano & Bigelli, Marco & Hillier, David, 2013. "The role of institutional investors in public-to-private transactions," Journal of Banking & Finance, Elsevier, vol. 37(11), pages 4327-4336.
  9. Sabri Boubaker & Alexis Cellier & Wael Rouatbi, 2014. "The sources of shareholder wealth gains from going private transactions: The role of controlling shareholders," Working Papers 2014-186, Department of Research, Ipag Business School.
  10. Hamid Mehran & Stavros Peristiani, 2009. "Financial visibility and the decision to go private," Staff Reports 376, Federal Reserve Bank of New York.
  11. Pei Ling Lee & Roy Wye Leong Khong & Suganthi Ramasamy, 2010. "Characteristics of Firms Going Private in the Malaysian Stock Exchange," Economics Bulletin, AccessEcon, vol. 30(2), pages 1307-1319.
  12. Kashefi Pour, Eilnaz & Lasfer, Meziane, 2013. "Why do companies delist voluntarily from the stock market?," Journal of Banking & Finance, Elsevier, vol. 37(12), pages 4850-4860.
  13. Pop, Diana & Pop, Adrian & Chemla, Gilles, 2010. "Privatization and governance regulation in frontier emerging markets: The case of Romania," Economics Papers from University Paris Dauphine 123456789/7707, Paris Dauphine University.
  14. Constant Djama & Isabelle Martinez & Stéphanie Serve, 2012. "What do we know about delistings? A survey of the literature," Post-Print hal-00937899, HAL.
  15. Johan, Sofia & Najar, Dorra, 2011. "The Role of Law Corruption and Culture in Investment Fund Manager Fees," Economics Papers from University Paris Dauphine 123456789/5830, Paris Dauphine University.
  16. Cumming, Douglas & Siegel, Donald S. & Wright, Mike, 2007. "Private equity, leveraged buyouts and governance," Journal of Corporate Finance, Elsevier, vol. 13(4), pages 439-460, September.
  17. Achleitner, Ann-Kristin & Betzer, André & Gider, Jasmin, 2008. "Do corporate governance motives drive hedge funds and private equity activities?," CEFS Working Paper Series 2008-11, Center for Entrepreneurial and Financial Studies (CEFS), Technische Universität München.
  18. repec:pab:fiecac:14.02 is not listed on IDEAS
  19. Valkama, Petri & Maula, Markku & Nikoskelainen, Erkki & Wright, Mike, 2013. "Drivers of holding period firm-level returns in private equity-backed buyouts," Journal of Banking & Finance, Elsevier, vol. 37(7), pages 2378-2391.

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