Success Factors of Buyout-backed Initial Public Offerings in Continental Europe
Type
dissertation project
Start Date
December 1, 2009
End Date
May 30, 2010
Status
ongoing
Keywords
Buyouts
Private Equity
Initial Public Offerings
Corporate Finance
Performance Measurement
Value Generation
Description
My research goal is to develop a conceptual framework for value generation in buyouts from a post-IPO performance perspective by adopting value creation models derived in the context of value generation with respect to buyout investors. I intend to operationalize this framework and to derive quantitative factors explaining post-IPO performance by testing potential success factors using single and multiple regression models with respect to a variety of both market and accounting based performance measures.
The academic relevance of my research is distinct primarily for two reasons: firstly, it fills a significant research gap concerning the theoretical understanding of value generation for buyout-backed IPOs. Secondly, it provides empirical evidence for the Continental Europe market enabling practical implications regarding buyout investors, buyout firms as well as IPO investors. It addresses a phenomenon of potentially growing social relevance as the role of private equity firms has been debated critically in public and as growing numbers of pending leveraged buyouts (LBOs) will exit through an IPO in forthcoming years.
The academic relevance of my research is distinct primarily for two reasons: firstly, it fills a significant research gap concerning the theoretical understanding of value generation for buyout-backed IPOs. Secondly, it provides empirical evidence for the Continental Europe market enabling practical implications regarding buyout investors, buyout firms as well as IPO investors. It addresses a phenomenon of potentially growing social relevance as the role of private equity firms has been debated critically in public and as growing numbers of pending leveraged buyouts (LBOs) will exit through an IPO in forthcoming years.
Leader contributor(s)
Partner(s)
Centre for Management Buyout and Private Equity Research (CMBOR), University of Nottingham Business School, UK
Funder
Topic(s)
Buyouts
Private Equity
Initial Public Offerings
Corporate Finance
Performance Measurement
Value Generation
Method(s)
multiple regression analysis
Range
School
Range (De)
School
Eprints ID
57465