文章基本信息

标题：The Relationship between LBOs, IPOs and Market Risk Premium: An Empirical Analysis of the European Market
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作者：Antonio Salvi ; Emanuele Teti ; Anastasia Giakoumelou 等
期刊名称：International Journal of Business and Management
印刷版ISSN：1833-3850
电子版ISSN：1833-8119
出版年度：2019
卷号：14
期号：7
页码：160-170
DOI：10.5539/ijbm.v14n7p160
出版社：Canadian Center of Science and Education
摘要：This paper investigates the relationship between leveraged buyouts (LBOs) and initial public offerings (IPOs) with the market risk premium in the European market. We expand our study to the period spanning from the first quarter of 1999 to the fourth quarter of 2016. Our longitudinal analysis finds evidence of an inverse relationship between market risk premium and the volume of LBOs, as well as a direct relationship between the latter and the stock index STOXX Europe 600. Additionally, our analysis of IPO operations confirms the significance of all factors considered in predicting the IPO trends in Europe, with a persisting accentuated impact generated by the market risk premium and the stock index STOXX Europe 600, also in this case. While previous analyses majorly focused on the US market, this paper is among first attempts to examine the topic of interest in the European context.
关键词：risk premium; IPOs; leveraged buyouts; stock market