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The Exit of Private Equity after IPOs: Evidence from Secondary Equity Offerings


Abstract This dissertation provides an analysis of the effects of public secondary equity offerings by private equity sponsors at portfolio firms that have become publicly traded entities via initial public offerings. Such secondary offerings were rare prior to 2000, but in recent years have become an increasingly common form of financial activity. A large sample of these offerings is analyzed within the framework of corporate finance theory, taking into account that they allow a private equity sponsor to sell off a large, controlling block of common stock to dispersed investors. This work provides a basis to draw conclusions about the effects of these secondary offerings on shareholder wealth and the implications for the firm's subsequent opera... (more)
Created Date 2015
Contributor Dong, Qi (Author) / Sushka, Marie E. (Advisor) / Slovin, Myron B. (Advisor) / Stein, Luke C.D. (Committee member) / Arizona State University (Publisher)
Subject Finance
Type Doctoral Dissertation
Extent 203 pages
Language English
Copyright
Reuse Permissions All Rights Reserved
Note Doctoral Dissertation Business Administration 2015
Collaborating Institutions Graduate College / ASU Library
Additional Formats MODS / OAI Dublin Core / RIS


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Description Dissertation/Thesis