Publicação
Empirical evidences on voluntary delisting phenomenon
| dc.contributor.advisor | Cunha, Igor | |
| dc.contributor.author | Salzillo, Francesco | |
| dc.date.accessioned | 2015-05-13T09:31:20Z | |
| dc.date.available | 2015-05-13T09:31:20Z | |
| dc.date.issued | 2014-05 | |
| dc.description.abstract | The paper studies what drives firms to voluntary delist from capital markets and what differs in firms’ behavior and fundamentals between public-to-private transactions and M&A deals with listed corporations. Moreover, I study the relationship between ownership percentage in controlling shareholders’ hands and cumulative returns around the delisting public announcement. I perform my tests both for the Italian and the US markets and I compare the findings to better understand how the phenomenon works in these different institutional environments. Consistent with my expectations, I find that the likelihood of delisting is mainly related to size, underperformance and undervaluation, while shareholders are more rewarded when their companies are involved in PTP transactions than in M&As with public firms. | por |
| dc.description.sponsorship | NSBE - UNL | por |
| dc.identifier.tid | 201475499 | |
| dc.identifier.uri | http://hdl.handle.net/10362/14932 | |
| dc.language.iso | eng | por |
| dc.subject | Delisting | por |
| dc.subject | Public-to-private | por |
| dc.subject | Going private | por |
| dc.subject | Controlling shareholders | por |
| dc.title | Empirical evidences on voluntary delisting phenomenon | por |
| dc.type | master thesis | |
| dspace.entity.type | Publication | |
| rcaap.rights | openAccess | por |
| rcaap.type | masterThesis | por |
| thesis.degree.discipline | Corporate Finance | por |
| thesis.degree.level | Masters | por |
| thesis.degree.name | A Work Project, presented as part of the requirements for the Award of a Master Degree in Management from the NOVA – School of Business and Economics | por |