Determinants of Public-to-Private Transactions. Evidence from the London Stock Exchange

Inhaltsverzeichnis (Table of Contents)

• INTRODUCTION
• CHAPTER 1. THEORETICAL BACKGROUND
  • 1.1. Public-to-Private Transactions: Literature Review
  • 1.2. Determinants of Public-to-Private Transactions: Classification
  • 1.3. Case Studies: Buyouts of Alliance Boots and Regent Inns.
  • 1.4. Hypotheses Formulation
• CHAPTER 2. EMPIRICAL STUDY
  • 2.1. Research Design
  • 2.2. Sampling and Data Collection.
  • 2.3. Empirical Results & Discussion
• CONCLUSIONS
• LIST OF REFERENCES

Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)

This thesis examines the factors influencing public-to-private transactions on the London Stock Exchange. It aims to establish the relationship between analyst following, insider ownership, and the probability of a company being taken private. The thesis will critically analyze relevant literature, classify determinants of public-to-private transactions, conduct an empirical study for UK-listed firms, and analyze the results to draw conclusions and suggest managerial implications.

• Determinants of public-to-private transactions
• Analyst following and its impact on company valuation
• Insider ownership and its role in public-to-private transactions
• Empirical analysis of UK-listed firms
• Managerial implications of the findings

Zusammenfassung der Kapitel (Chapter Summaries)

The introduction sets the context for the thesis by discussing the different ways in which companies can be delisted from the London Stock Exchange, focusing on public-to-private transactions, including institutional buyouts (IBOs), management buyouts (MBOs), and management buy-ins (MBIs). It highlights the growing prominence of public-to-private transactions in the UK since the late 1990s.

Chapter 1 delves into the theoretical background of public-to-private transactions. It provides a comprehensive literature review on the subject, classifying the determinants of these transactions and examining case studies of buyouts of Alliance Boots and Regent Inns. The chapter culminates in the formulation of hypotheses related to the relationship between analyst following, insider ownership, and the likelihood of a company being taken private.

Chapter 2 outlines the empirical study conducted to test the hypotheses. It details the research design, sampling methods, and data collection procedures. The chapter concludes with a discussion of the empirical results.

Schlüsselwörter (Keywords)

The core concepts explored in this thesis include public-to-private transactions, institutional buyout, management buyout, analyst following, insider ownership, UK-listed firms, empirical analysis, and managerial implications. The study focuses on establishing the link between these factors and the likelihood of a company being taken private.