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The role of private equity for firms restructuring: the going private strategy

Author

Listed:
  • Vincenzo Capizzi

    (Università Bocconi)

  • Stefano Caselli

    (Università Bocconi)

  • Renato Giovannini

    (Università Guglielmo Marconi)

  • Valerio Pesic

    (Sapienza - Università di Roma)

Abstract

In this paper we consider the role of private equity for growth and restructuring processes, through the analysis of a comprehensive dataset of European going private deals during the period 1998-2007, for which we explore the post-transaction operating performance of companies gone private and potential variables that can explain this choice. We show that the presence of a private equity provider appears to positively affect long-term performance, especially when the target company is large and needs to embark on a complex restructuring process

Suggested Citation

  • Vincenzo Capizzi & Stefano Caselli & Renato Giovannini & Valerio Pesic, 2012. "The role of private equity for firms restructuring: the going private strategy," BANCARIA, Bancaria Editrice, vol. 12, pages 29-45, December.
  • Handle: RePEc:ban:bancar:v:12:y:2012:m:december:p:29-45
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    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance

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