The performance of reverse leveraged buyouts

Jerry Cao and Josh Lerner

Journal of Financial Economics, 2009, vol. 91, issue 2, 139-157

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.

Keywords: Initial; public; offerings; Private; equity; Exiting (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (63)

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Related works:
Working Paper: The Performance of Reverse Leveraged Buyouts (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jfinec:v:91:y:2009:i:2:p:139-157

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