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Predicting the duration and reversal probability of leveraged buyouts

  • Van de Gucht, Linda M.
  • Moore, William T.
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    File URL: http://www.sciencedirect.com/science/article/B6VFG-3V72TB1-C/2/04cbaafaddaf9e83827a7987d310acc9
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    Article provided by Elsevier in its journal Journal of Empirical Finance.

    Volume (Year): 5 (1998)
    Issue (Month): 4 (October)
    Pages: 299-315

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    Handle: RePEc:eee:empfin:v:5:y:1998:i:4:p:299-315
    Contact details of provider: Web page: http://www.elsevier.com/locate/jempfin

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    1. Marco Pagano & Fabio Panetta & and Luigi Zingales, 1998. "Why Do Companies Go Public? An Empirical Analysis," Journal of Finance, American Finance Association, vol. 53(1), pages 27-64, 02.
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    3. Andrei Shleifer & Lawrence H. Summers, 1987. "Breach of Trust in Hostile Takeovers," NBER Working Papers 2342, National Bureau of Economic Research, Inc.
    4. Peter Schmidt & Ann Dryden Witte, 1987. "Predicting Criminal Recidivism Using "Split Population" Survival Time Models," NBER Working Papers 2445, National Bureau of Economic Research, Inc.
    5. Kristiaan Helsen & David C. Schmittlein, 1993. "Analyzing Duration Times in Marketing: Evidence for the Effectiveness of Hazard Rate Models," Marketing Science, INFORMS, vol. 12(4), pages 395-414.
    6. Heckman, James & Singer, Burton, 1984. "A Method for Minimizing the Impact of Distributional Assumptions in Econometric Models for Duration Data," Econometrica, Econometric Society, vol. 52(2), pages 271-320, March.
    7. Hite, Gailen L & Vetsuypens, Michael R, 1989. " Management Buyouts of Divisions and Shareholder Wealth," Journal of Finance, American Finance Association, vol. 44(4), pages 953-70, September.
    8. Bruce D. Meyer, 1988. "Unemployment Insurance And Unemployment Spells," NBER Working Papers 2546, National Bureau of Economic Research, Inc.
    9. Asquith, Paul & Wizman, Thierry A., 1990. "Event risk, covenants, and bondholder returns in leveraged buyouts," Journal of Financial Economics, Elsevier, vol. 27(1), pages 195-213, September.
    10. Kaplan, Steven N. & Stein, Jeremy C., 1990. "How risky is the debt in highly leveraged transactions?," Journal of Financial Economics, Elsevier, vol. 27(1), pages 215-245, September.
    11. Steven N. Kaplan, 1993. "The Staying Power Of Leveraged Buyouts," Journal of Applied Corporate Finance, Morgan Stanley, vol. 6(1), pages 15-24.
    12. Smart, Scott B & Waldfogel, Joel, 1994. "Measuring the Effect of Restructuring on Corporate Performance: The Case of Management Buyouts," The Review of Economics and Statistics, MIT Press, vol. 76(3), pages 503-11, August.
    13. Ippolito, Richard A & James, William H, 1992. " LBOs, Reversions and Implicit Contracts," Journal of Finance, American Finance Association, vol. 47(1), pages 139-67, March.
    14. Douglas 0. Cook & John C. Easterwood & John D. Martin, 1992. "Bondholder Wealth Effects of Management Buyouts," Financial Management, Financial Management Association, vol. 21(1), Spring.
    15. Lehn, Kenneth & Poulsen, Annette, 1989. " Free Cash Flow and Stockholder Gains in Going Private Transactions," Journal of Finance, American Finance Association, vol. 44(3), pages 771-87, July.
    16. Jensen, Michael C. & Meckling, William H., 1976. "Theory of the firm: Managerial behavior, agency costs and ownership structure," Journal of Financial Economics, Elsevier, vol. 3(4), pages 305-360, October.
    17. Frank R Lichtenberg & Donald Siegel, 1989. "The Effects Of Leveraged Buyouts On Productivity And Related Aspects Of Firm Behavior," Working Papers 89-5, Center for Economic Studies, U.S. Census Bureau.
    18. DeAngelo, Harry & DeAngelo, Linda & Rice, Edward M, 1984. "Going Private: Minority Freezeouts and Stockholder Wealth," Journal of Law and Economics, University of Chicago Press, vol. 27(2), pages 367-401, October.
    19. Smith, Abbie J., 1990. "Corporate ownership structure and performance *1: The case of management buyouts," Journal of Financial Economics, Elsevier, vol. 27(1), pages 143-164, September.
    20. Jensen, Michael C, 1986. "Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers," American Economic Review, American Economic Association, vol. 76(2), pages 323-29, May.
    21. Gerald D. Newbould & Robert E. Chatfield & Ronald F. Anderson, 1992. "Leveraged Buyouts and Tax Incentives," Financial Management, Financial Management Association, vol. 21(1), Spring.
    22. Kaplan, Steven, 1989. "The effects of management buyouts on operating performance and value," Journal of Financial Economics, Elsevier, vol. 24(2), pages 217-254.
    23. Christopher J. Flinn & James J. Heckman, 1982. "Models for the Analysis of Labor Force Dynamics," NBER Working Papers 0857, National Bureau of Economic Research, Inc.
    24. Han, Aaron & Hausman, Jerry A, 1990. "Flexible Parametric Estimation of Duration and Competing Risk Models," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 5(1), pages 1-28, January-M.
    25. Muscarella, Chris J & Vetsuypens, Michael R, 1990. " Efficiency and Organizational Structure: A Study of Reverse LBOs," Journal of Finance, American Finance Association, vol. 45(5), pages 1389-1413, December.
    26. Degeorge, Francois & Zeckhauser, Richard, 1993. " The Reverse LBO Decision and Firm Performance: Theory and Evidence," Journal of Finance, American Finance Association, vol. 48(4), pages 1323-48, September.
    27. Fama, Eugene F & Jensen, Michael C, 1983. "Separation of Ownership and Control," Journal of Law and Economics, University of Chicago Press, vol. 26(2), pages 301-25, June.
    28. Vanhuele, Marc & Dekimpe, Marnik G. & Sharma, Sunil & Morrison, Donald G., 1995. "Probability Models for Duration: The Data Don't Tell the Whole Story," Organizational Behavior and Human Decision Processes, Elsevier, vol. 62(1), pages 1-13, April.
    29. W. V. Harlow & John S. Howe, 1993. "Leveraged Buyouts and Insider Nontrading," Financial Management, Financial Management Association, vol. 22(1), Spring.
    30. Asquith, Paul, 1948- & Wizman, Thierry A., 1990. "Event risk, covenants, and bondholder returns in leveraged buyouts," Working papers WP 3173-90., Massachusetts Institute of Technology (MIT), Sloan School of Management.
    31. Heckman, James J. & Singer, Burton, 1984. "Econometric duration analysis," Journal of Econometrics, Elsevier, vol. 24(1-2), pages 63-132.
    32. Mikkelson, Wayne H. & Partch, M. Megan, 1988. "Withdrawn Security Offerings," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 23(02), pages 119-133, June.
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