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Flying the nest - an analysis of Kiwi firms delisting from the NZX

Author

Listed:
  • Lawrence, Gillian

    (Ministry of Economic Development, New Zealand)

  • Sharman, Amelia

    (Ministry of Economic Development, New Zealand)

  • Chapple, Bryan

    (Ministry of Economic Development, New Zealand)

Abstract

Recent commentary has suggested an increasing trend in delistings from the NZX, driven by offshore takeovers. However, some of that commentary has been driven by anecdotal evidence. In order to shed light on this discussion, we examine the extent and nature of delisting activity over the past 15 years. Our results indicate no increase in offshore takeovers, with well under half of the delistings in the sample period the result of foreign takeovers.

Suggested Citation

  • Lawrence, Gillian & Sharman, Amelia & Chapple, Bryan, 2009. "Flying the nest - an analysis of Kiwi firms delisting from the NZX," Occasional Papers 09/1, Ministry of Economic Development, New Zealand.
    • Handle: RePEc:ris:nzmedo:2009_001
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    More about this item

    Keywords

    NZX; New Zealand stock market; delistings; listings;
    All these keywords.

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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