Skip navigation
Logo
User training | Reference and search service

Library catalog

Retrievo
EDS
b-on
More
resources
Content aggregators
Please use this identifier to cite or link to this item:

acessibilidade

http://hdl.handle.net/10071/11744
acessibilidade
Title: States as LBO specialists: evidence from Portugal
Authors: Alpalhão, R.
Alves, P.
Keywords: Nationalizations
Privatizations
LBO
Wealth transfer
Issue Date: 2013
Publisher: Sciedu Press
Abstract: The paper’s purpose is to quantify the performance of a State in its action as a de facto LBO specialist, taking companies private to restructure them and subsequently reselling them in the share market. A sample comprising all the listed companies nationalized in Portugal in 1975 and 1976 that were subsequently privatised through a relisting by means of a share issue is constructed. The returns earned by the Portuguese Republic are computed, comparing the market values of nationalised companies at the time of their privatization with their theoretical value in a non-nationalization scenario. A negative abnormal return for the Portuguese Republic’s investment in shares is found. This negative return is much worse than the ones computed in similar work for France.
Peer reviewed: yes
URI: https://ciencia.iscte-iul.pt/public/pub/id/22448
http://hdl.handle.net/10071/11744
DOI: 10.5430/ijfrv4n2p68
ISSN: 1923-4023
Appears in Collections:DF-RI - Artigos em revistas internacionais com arbitragem científica

Files in This Item:
acessibilidade
File Description SizeFormat 
publisher_version_Alpalhao_Alves_2655_8413_1_SM.pdf250.42 kBAdobe PDFView/Open


FacebookTwitterDeliciousLinkedInDiggGoogle BookmarksMySpace
Formato BibTex MendeleyEndnote Currículo DeGóis 

Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.