Journal of Financial Economics Vol. 91 No. 2 2008
The performance of reverse leveraged buyouts☆
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.
- DOI
- 10.1016/j.jfineco.2008.03.002
- Volume
- 91
- Issue
- 2
- Pages
- 139-157
- Language
- en
- Sources
- bibtex:phds-export.bib crossref openalex