Advances in Economics and Business Vol. 3(9), pp. 349 - 359
DOI: 10.13189/aeb.2015.030901
Reprint (PDF) (353Kb)

Do Public to Private Buyouts Improve Target's Efficiency?

Miller Lloyd ^1,*, Hawkes Denise ^2
1 Department of International Business & Economics, University of Greenwich, UK
² Institute of Education, University College London, UK

ABSTRACT

This paper uses a sample of 55 companies involved in UK public to private buyouts (P-T-P) and DEA to investigate efficiency in the UK manufacturing industry during the period 1997-2007. For the sample used and period investigated, no evidence is found that companies involved in public to private buyout ownership changes operate more efficiently than a control sample of PLCs not involved in buyouts. The results suggest that the policy rhetoric that buyouts promote efficiency in public companies in the UK is not supported.

KEYWORDS
Buyouts, Efficiency, Private Equity, Public to Private Buyouts

Cite This Paper in IEEE or APA Citation Styles
(a). IEEE Format:
[1] Miller Lloyd , Hawkes Denise , "Do Public to Private Buyouts Improve Target's Efficiency?," Advances in Economics and Business, Vol. 3, No. 9, pp. 349 - 359, 2015. DOI: 10.13189/aeb.2015.030901.

(b). APA Format:
Miller Lloyd , Hawkes Denise (2015). Do Public to Private Buyouts Improve Target's Efficiency?. Advances in Economics and Business, 3(9), 349 - 359. DOI: 10.13189/aeb.2015.030901.