An Analysis of Management Buy-out Failure in Recession
The UK buy-out market went down in the last quarter of 2008 with a significant reduction of deal numbers and deal values. Besides, the exit market has been difficult through 2008 with no buy-out IPOs but large proportion of receiverships. Therefore buy-out failure attracts interest and it would be w...
| Main Author: | |
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| Format: | Dissertation (University of Nottingham only) |
| Language: | English |
| Published: |
2009
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| Online Access: | https://eprints.nottingham.ac.uk/23094/ |
| _version_ | 1848792507856453632 |
|---|---|
| author | Huo, Huan |
| author_facet | Huo, Huan |
| author_sort | Huo, Huan |
| building | Nottingham Research Data Repository |
| collection | Online Access |
| description | The UK buy-out market went down in the last quarter of 2008 with a significant reduction of deal numbers and deal values. Besides, the exit market has been difficult through 2008 with no buy-out IPOs but large proportion of receiverships. Therefore buy-out failure attracts interest and it would be worthwhile to identify factors that leads to or predicts a failure, particularly in a recessional condition.
This study is built on previous studies of Wright et al. (1996) and Wilson et al. (2009) which estimated buy-out failure in recessions of 1990s and 2008 respectively. A logit model is applied in the paper but did not show significant results. Nevertheless, the significant and positive sign of interest cover indicates the impact of leverage and profitability on the probability of failure. |
| first_indexed | 2025-11-14T18:45:31Z |
| format | Dissertation (University of Nottingham only) |
| id | nottingham-23094 |
| institution | University of Nottingham Malaysia Campus |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-14T18:45:31Z |
| publishDate | 2009 |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | nottingham-230942018-01-30T20:43:49Z https://eprints.nottingham.ac.uk/23094/ An Analysis of Management Buy-out Failure in Recession Huo, Huan The UK buy-out market went down in the last quarter of 2008 with a significant reduction of deal numbers and deal values. Besides, the exit market has been difficult through 2008 with no buy-out IPOs but large proportion of receiverships. Therefore buy-out failure attracts interest and it would be worthwhile to identify factors that leads to or predicts a failure, particularly in a recessional condition. This study is built on previous studies of Wright et al. (1996) and Wilson et al. (2009) which estimated buy-out failure in recessions of 1990s and 2008 respectively. A logit model is applied in the paper but did not show significant results. Nevertheless, the significant and positive sign of interest cover indicates the impact of leverage and profitability on the probability of failure. 2009-09-23 Dissertation (University of Nottingham only) NonPeerReviewed application/pdf en https://eprints.nottingham.ac.uk/23094/1/An_Analysis_of_Management_Buy-out_Failure_in_Recession.pdf Huo, Huan (2009) An Analysis of Management Buy-out Failure in Recession. [Dissertation (University of Nottingham only)] (Unpublished) |
| spellingShingle | Huo, Huan An Analysis of Management Buy-out Failure in Recession |
| title | An Analysis of Management Buy-out Failure in Recession |
| title_full | An Analysis of Management Buy-out Failure in Recession |
| title_fullStr | An Analysis of Management Buy-out Failure in Recession |
| title_full_unstemmed | An Analysis of Management Buy-out Failure in Recession |
| title_short | An Analysis of Management Buy-out Failure in Recession |
| title_sort | analysis of management buy-out failure in recession |
| url | https://eprints.nottingham.ac.uk/23094/ |