Please use this identifier to cite or link to this item: https://repositorio.insper.edu.br/handle/11224/3957
Type: Artigo Científico
Title: Does Private Equity Investment Work as a Quality Certification for IPOs in Brazil?
Author: Minardi, Andrea Maria Accioly Fonseca
Tavares, Pedro Carvalho Araujo
Publication Date: 2010
Original Abstract: Brazil faced an IPO wave in the last four years, and many Private Equity deals went public. The aim of this paper is to investigate whether private equity backed IPOs performed better in the long run than non-private equity backed firms. We examined the one year cumulative abnormal returns of 53 Brazilian IPOs from January 2004 to February 2007. Our results provide evidences that PE investment works as a quality certification for IPOs in Brazil. One possible interpretation is that Brazilian PE funds have a value creation role in the portfolio companies, preparing them better for public market.
Keywords in original language : Initial Public Offer
Private Equity
Corporate Governance
Long run IPO performance.
Language: Inglês
CNPq Area: Ciências Exatas e da Terra
URI: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1624876
Copyright: O INSPER E ESTE REPOSITÓRIO NÃO DETÊM OS DIREITOS DE USO E REPRODUÇÃO DOS CONTEÚDOS AQUI REGISTRADOS. É RESPONSABILIDADE DOS USUÁRIOS INDIVIDUAIS VERIFICAR OS USOS PERMITIDOS NA FONTE ORIGINAL, RESPEITANDO-SE OS DIREITOS DE AUTOR OU EDITOR
Appears in Collections:Coleção de Artigos Científicos

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