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|Does Private Equity Investment Work as a Quality Certification for IPOs in Brazil?
|Minardi, Andrea Maria Accioly Fonseca
Tavares, Pedro Carvalho Araujo
|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
Long run IPO performance.
|Ciências Exatas e da Terra
|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
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|Coleção de Artigos Científicos
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|R_Artigo_2010_Does Private Equity Investment_TC.pdf
|R_Artigo_2010_Does Private Equity Investment_TC
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