Financial reporting quality in privaty equity backed companies: the impact of ownership concentration

Christof Beuselinck and Sophie Manigart

Vlerick Leuven Gent Management School Working Paper Series from Vlerick Leuven Gent Management School

Abstract: We argue and empirically show on a sample of 270 unquoted, private equity backed companies that the shareholder structure of private companies influences the quality of their accounting information. We show that companies in which private equity (PE) investors have a higher equity stake produce accounting information that is of lower quality than companies in which PE investors have a lower equity stake, controlling for company size and age. We argue that this is evidence that a large equity stake is a substitute for high earnings quality

Pages: 55 pages
Date: 2006-01-15
New Economics Papers: this item is included in nep-fin and nep-fmk
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Related works:
Journal Article: Financial Reporting Quality in Private Equity Backed Companies: The Impact of Ownership Concentration (2007)
Working Paper: Financial Reporting Quality in Private Equity Backed Companies: The Impact of Ownership Concentration (2007)
Working Paper: Financial reporting quality in private equity backed companies: The impact of ownership concentration (2007)
Working Paper: Financial Reporting Quality in Private Equity Backed Companies: The Impact of Ownership Concentration (2005)
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Persistent link: https://EconPapers.repec.org/RePEc:vlg:vlgwps:2005-23

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