Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/88734
Authors: 
Gill, Andrej
Visnjic, Nikolai
Year of Publication: 
2013
Series/Report no.: 
SAFE Working Paper Series 24
Abstract: 
This study investigates the transition from being a listed company with a dispersed ownership structure to being a privately held company with a concentrated ownership structure. We consider a sample of private equity backed portfolio companies to evaluate the consequences of the corporate governance changes on operational performance. Our analysis shows significant positive abnormal growth in several performance ratios for the private period of our sample companies relative to comparable public companies. These performance differences come from the increase in ownership concentration after the leveraged buyout transaction.
Subjects: 
private equity
leveraged buyouts
active shareholders
ownership concentration
corporate governance
JEL: 
G23
G24
G32
G34
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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