The effect of MBOs on Companies Performance and Capital Structure

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dc.contributor.authorNovaki, Evgeniaen
dc.contributor.authorPetrakopoulou, Stylianiel
dc.date.accessioned2015-03-13T10:22:34Z
dc.date.available2015-09-27T06:05:07Z
dc.date.issued2015-03-13
dc.identifier.urihttps://repository.ihu.edu.gr/xmlui/handle/11544/28
dc.titleThe effect of MBOs on Companies Performance and Capital Structureen
heal.abstractThis study provides an analysis of the changes in performance for a sample of 70 management buyouts (MBOs) of public companies that took place between 1997 and 2007, worldwide. Data for three years pre and post MBO were used to detect differences in profitability, performance, efficiency, liquidity, leverage and investment that occur due to the MBO transaction. The evidence suggests that companies do not experience greater profitability and efficiency in the post MBO period and do not improve their liquidity position. Leverage, on the other hand, increases and investment ratios give no evidence of expansion. These findings suggest that the overall performance of companies after the buyout does not improve.en
heal.academicPublisherSchool of Economics, Business Administration and Legal Studies, MSc in Banking and Financeen
heal.accessfreeel
heal.advisorNameAnagnostopoulouen
heal.bibliographicCitationNovaki Evgenia and Petrakopoulou Styliani, 2010, The effect of weather conditions on IPO performance, Master's Dissertation, International Hellenic Universityen
heal.committeeMemberNameLevisen
heal.committeeMemberNameAnagnostopoulouen
heal.committeeMemberNameLeventisen
heal.fullTextAvailabilitytrue
heal.keywordURI.LCSHMBOsen
heal.keywordURI.LCSHLBOsen
heal.keywordURI.LCSHperformanceen
heal.keywordURI.LCSHcapital structureen
heal.languageen
heal.licensehttp://creativecommons.org/licenses/by-nc/4.0
heal.numberOfPages51
heal.publicationDate2010-09
heal.recordProviderSchool of Economics, Business Administration and Legal Studies, MSc in Banking and Finance
heal.tableOfContentsAbstract .................................................................................................................................. 2 Acknowledgements ................................................................................................................ 3 Table of Contents ................................................................................................................... 4 List of Tables.......................................................................................................................... 6 Chapter 1 ................................................................................................................................ 7 1. Introduction ................................................................................................................. 7 Chapter 2 .............................................................................................................................. 10 2. Literature Review ...................................................................................................... 10 Chapter 3 .............................................................................................................................. 17 3. Methodology ............................................................................................................. 17 3.1. Methodology Description .................................................................................. 17 3.2. Limitations of Methodology .............................................................................. 20 Chapter 4 .............................................................................................................................. 21 4. Sample Selection ....................................................................................................... 21 4.1. Sample Description ............................................................................................ 21 4.2. Potential Sample Selection Biases ..................................................................... 23 Chapter 5 .............................................................................................................................. 27 5. Results and Discussion .............................................................................................. 27 5.1. Performance, Efficiency and Profitability ......................................................... 27 5.2. Liquidity............................................................................................................. 33 5.3. Leverage and Solvency ...................................................................................... 38 5.4. Investment .......................................................................................................... 43 5.5. Comparison to Previous Studies ........................................................................ 46 5 Chapter 6 .............................................................................................................................. 47 6. Conclusion ................................................................................................................ 47 References ............................................................................................................................ 49 Appendix .............................................................................................................................. 57en
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