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Private equity investment and the post-IPO performance: evidence from Brazil

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Bibliographic Details
Summary:Using a dataset comprising 108 Initial Public Offerings (IPOs) between 2005 and 2014, in Brazil, this dissertation studies the influence of Private Equity’s investment in the companies’ post-IPO performance. Following Ritter’s (1991) methodology, two portfolios were created: one with Private Equity backed companies and another with no PE investment. Then, a “Buy and Hold” strategy was performed and the Cumulative Abnormal Returns (CAR) were studied. The main findings were that in this time span there is a loss in the stocks’ returns of companies with recent IPOs and that it is indifferent if the IPOs are Private Equity backed or not, regarding their long-run performance.
Main Authors:Potes, Afonso Maria Themudo de Castro Sacavém
Subject:Cumulative abnormal returns IPO Post-IPO performance Private equity
Year:2019
Country:Portugal
Document type:master thesis
Access type:open access
Associated institution:Universidade Nova de Lisboa
Language:English
Origin:Repositório Institucional da UNL

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