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Two essays on reverse mergers.

紀錄類型:	書目-語言資料,手稿 : Monograph/item
正題名/作者:	Two essays on reverse mergers./
作者:	Adjei, Frederick Amon.
面頁冊數:	1 online resource (87 pages)
附註:	Source: Dissertations Abstracts International, Volume: 69-12, Section: A.
Contained By:	Dissertations Abstracts International69-12A.
標題:	Finance. -
電子資源:	click for full text (PQDT)
ISBN:	9781109972061

Two essays on reverse mergers.
Adjei, Frederick Amon.

Two essays on reverse mergers. - 1 online resource (87 pages)

Source: Dissertations Abstracts International, Volume: 69-12, Section: A.

Thesis (Ph.D.)--The University of Mississippi, 2006.

Includes bibliographical references

This study examines the motivation for using a reverse merger technique, rather than an IPO, to take a private firm public. I also examine the long-run performance of reverse merged firms. The results indicate that small, young, risky and poorly performing private firms typically use the reverse merger technique. The one-year and three-year buy-and-hold abnormal return (BHAR) of reverse merged firms are -4.1% and 2.92% respectively, compared to control firms. An investigation of the effects of various features proposed as indicators of firm survival following reverse mergers is conducted using the accelerated failure time (AFT) model. The results imply that large, high performance, and low risk private firms that engage in reverse mergers will have longer survival time in the aftermarket. The use of a financial advisor as well as venture capital backing lengthens survival time. Additionally, the most probable delisting time of an average reverse merged firm is in the 24th month with a probability of delisting of 5.69 percent. For NASDAQ reverse merged firms, the maximum probability of delisting is 5.75 percent in the 23rd month and for NYSE/AMEX reverse merged firms; the maximum delisting probability is 5.37 percent in the 27th month.

Electronic reproduction.
Ann Arbor, Mich. :
ProQuest,
2024

Mode of access: World Wide Web

ISBN: 9781109972061Subjects--Topical Terms:

559073
Finance.
Subjects--Index Terms:

Firm survivalIndex Terms--Genre/Form:

554714
Electronic books.

Two essays on reverse mergers.
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504 $a Includes bibliographical references
520 $a This study examines the motivation for using a reverse merger technique, rather than an IPO, to take a private firm public. I also examine the long-run performance of reverse merged firms. The results indicate that small, young, risky and poorly performing private firms typically use the reverse merger technique. The one-year and three-year buy-and-hold abnormal return (BHAR) of reverse merged firms are -4.1% and 2.92% respectively, compared to control firms. An investigation of the effects of various features proposed as indicators of firm survival following reverse mergers is conducted using the accelerated failure time (AFT) model. The results imply that large, high performance, and low risk private firms that engage in reverse mergers will have longer survival time in the aftermarket. The use of a financial advisor as well as venture capital backing lengthens survival time. Additionally, the most probable delisting time of an average reverse merged firm is in the 24th month with a probability of delisting of 5.69 percent. For NASDAQ reverse merged firms, the maximum probability of delisting is 5.75 percent in the 23rd month and for NYSE/AMEX reverse merged firms; the maximum delisting probability is 5.37 percent in the 27th month.
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538 $a Mode of access: World Wide Web
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653 $a Firm survival
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653 $a Reverse mergers
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