Article ID Journal Published Year Pages File Type
960466 Journal of Financial Economics 2009 19 Pages PDF
Abstract

Reverse leveraged buyouts (RLBOs) have received increased public scrutiny but attracted little systematic study. We collect a comprehensive sample of 526 RLBOs between 1981 and 2003 and examine the three-year and five-year stock performance of these offerings. RLBOs appear to perform as well as or better than other initial public offerings and the stock market as a whole, depending on the specification. Evidence exists of a deterioration of returns over time.

Related Topics
Social Sciences and Humanities Business, Management and Accounting Accounting
Authors
, ,