Impact of leverage buyouts on target companies
Name
1119391155-MIT.pdf
Size
4.96 MB
Format
Adobe PDF
Checksum (MD5)
b2af1369500c42a363d2674f4f9f5ae1
Author(s)
Ma, Xingjian,S.M.Sloan School of Management.
Advisor(s)
Christopher Francis Noe.
Alternative Title
Impact of LBOs on target companies
Date Issued
2019
Publisher
Massachusetts Institute of Technology
Abstract
This research studies the impact of LBO buyers' operation on target companies, mainly from the perspective of financial indicators and stock performance after a subsequent IPO. The results show that, on average, target companies show weaker profitability, lower operational efficiency and higher solvency risk. LBO buyers' operation is also shown to improve target companies' cash flow condition. After a subsequent IPO, target companies' stocks tend to under-perform the market during the first year, but three-year returns outperformed the market, on average.
Description
Thesis: S.M. in Management Studies, Massachusetts Institute of Technology, Sloan School of Management, 2019
Cataloged from PDF version of thesis.
Includes bibliographical references (page 52).
Subjects
Sloan School of Management.
MIT Department
Sloan School of Management
Terms of Use
MIT theses are protected by copyright. They may be viewed, downloaded, or printed from this source but further reproduction or distribution in any format is prohibited without written permission.
Persistent DSpace Link
