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dc.contributor.authorHsu, WHen_US
dc.contributor.authorYoung, Men_US
dc.coverage.spatialAuckland, New Zealanden_US
dc.identifier.citationpp. ? - ? (23)en_US
dc.description.abstractThis paper examines the market response to the announcements of receiving investments from the private equity (PE) firms. It is found that the positive market reaction is due to the certification effect that the PE firms may have inside information about the company value. This insider hypothesis is also found in the subsample of repeated investments: market reacts positively when the underperformed companies receive funding from the same PE firms again. On the other hand, when the companies receive investments from the PE firms for the first time, the investors recognises the monitoring role of the PE investors as well as their certification role.en_US
dc.format.extent? - ? (23)en_US
dc.relation.urihttps://acfr.aut.ac.nz/conferences-And-events/past-conferences-and-events/auckland-finance-meeting/academic-programme-for-afm-2016en_US
dc.sourcethe 2016 Auckland Finance Meetingen_US
dc.titleMonitors or certifiers? Different roles of private equity firms at different timing of investmentsen_US
dc.typeConference Paper
dc.identifier.elements-id339822
pubs.organisational-group/Massey University
pubs.organisational-group/Massey University/College of Business
pubs.organisational-group/Massey University/College of Business/School of Economics and Finance
dc.identifier.harvestedMassey_Dark
pubs.notesNot knownen_US
pubs.confidentialfalseen_US
pubs.finish-date2017-12-18en_US
pubs.start-date2016-12-16en_US


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