The Performance of Reverse Leveraged Buyouts

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 b...

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Main Authors:	CAO, Jerry, Lerner, Josh
Format:	text
Language:	English
Published:	Institutional Knowledge at Singapore Management University 2009
Subjects:	Initial public offerings Private equity Exiting Finance and Financial Management Portfolio and Security Analysis
Online Access:	https://ink.library.smu.edu.sg/lkcsb_research/1075 https://ink.library.smu.edu.sg/context/lkcsb_research/article/2074/viewcontent/performance_of_reverse_leveraged_buyouts_sv.pdf
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Institution:	Singapore Management University
Language:	English

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spelling	sg-smu-ink.lkcsb_research-20742020-01-08T05:57:14Z The Performance of Reverse Leveraged Buyouts CAO, Jerry Lerner, Josh 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. 2009-02-01T08:00:00Z text application/pdf https://ink.library.smu.edu.sg/lkcsb_research/1075 info:doi/10.1016/j.jfineco.2008.03.002 https://ink.library.smu.edu.sg/context/lkcsb_research/article/2074/viewcontent/performance_of_reverse_leveraged_buyouts_sv.pdf http://creativecommons.org/licenses/by-nc-nd/4.0/ Research Collection Lee Kong Chian School Of Business eng Institutional Knowledge at Singapore Management University Initial public offerings Private equity Exiting Finance and Financial Management Portfolio and Security Analysis
institution	Singapore Management University
building	SMU Libraries
continent	Asia
country	Singapore Singapore
content_provider	SMU Libraries
collection	InK@SMU
language	English
topic	Initial public offerings Private equity Exiting Finance and Financial Management Portfolio and Security Analysis
spellingShingle	Initial public offerings Private equity Exiting Finance and Financial Management Portfolio and Security Analysis CAO, Jerry Lerner, Josh The Performance of Reverse Leveraged Buyouts
description	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.
format	text
author	CAO, Jerry Lerner, Josh
author_facet	CAO, Jerry Lerner, Josh
author_sort	CAO, Jerry
title	The Performance of Reverse Leveraged Buyouts
title_short	The Performance of Reverse Leveraged Buyouts
title_full	The Performance of Reverse Leveraged Buyouts
title_fullStr	The Performance of Reverse Leveraged Buyouts
title_full_unstemmed	The Performance of Reverse Leveraged Buyouts
title_sort	performance of reverse leveraged buyouts
publisher	Institutional Knowledge at Singapore Management University
publishDate	2009
url	https://ink.library.smu.edu.sg/lkcsb_research/1075 https://ink.library.smu.edu.sg/context/lkcsb_research/article/2074/viewcontent/performance_of_reverse_leveraged_buyouts_sv.pdf
_version_	1770569787501445120

The Performance of Reverse Leveraged Buyouts

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