Essays about: "Private Equity-Backed Initial Public Offerings"
Showing result 6 - 10 of 13 essays containing the words Private Equity-Backed Initial Public Offerings.
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6. Long-Run Performance Trends of Private Equity-Backed IPOs: Evidence from the Nordics
University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomiAbstract : This study examines the long-run performance, measured as the 36-month buy-and-hold abnormal return, of private equity-backed initial public offerings (IPOs), and compares it to the long-run performance of non-backed IPOs. Using a sample of 130 IPOs listed on the four main exchanges in the Nordics from October 2006 to December 2016, we first show that private equity-backed IPOs, on average, are larger, use more leverage, and have higher asset turnover than non-backed IPOs. READ MORE
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7. Corporate Window-Dressing: A Study of Earnings Management Across Ownership Groups in European IPOs
University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomiAbstract : This paper studies earnings management in European IPOs and examines how it differs by three groups of issuers: private equity-backed, venture capital-backed, and non-sponsored. Using a sample of 2,126 IPOs between 1995 and 2015, we find compelling evidence of earnings management around the time of issuance. READ MORE
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8. Underpricing of private equity backed and non-backed IPOs
University essay from Handelshögskolan i Stockholm/Institutionen för redovisning och finansieringAbstract : The aim of this paper is to contribute to the discussion on the effects of private equity ownership in general and the initial public offering underpricing conundrum in particular. In this thesis I describe initial public offering patterns, specifically I examine short-run underpricing differences between private equity backed and non-backed initial public offerings by evaluating 67 transactions between 2010 and 2017 on the Nasdaq Stockholm, out of which 35 offerings were private equity backed. READ MORE
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9. Underpricing of Sponsor Backed and Non-Sponsor Backed IPOs in US Market
University essay from Lunds universitet/Nationalekonomiska institutionenAbstract : The dissertation examines the underpricing of sponsor-backed (private equity backed and venture capital backed) and non-sponsor backed initial public offerings (IPOs) listed on all US stock exchanges between January 1997 and December 2017. The authors identify 403 PE-backed IPOs, 179 VC-backed IPOs and 1469 non-sponsor (non-PE and non-VC) backed IPOs. READ MORE
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10. The Influence of a Private Equity Fund's Holding Period on the Performance of IPOs: Empirical Evidence from the UK
University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomiAbstract : This paper analyses the effect of a private equity fund's holding period on the after-market performance of initial public offerings (IPOs) in the United Kingdom. We use a hand-collected sample of 166 sponsor-backed IPOs, which occurred on the London Stock Exchange's Main Market and Alternative Investment Market in the period from 2005 to 2015, to analyse the one-year and three-year buy-and-hold excess returns in relation to the private equity fund's holding period. READ MORE
