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2018 | OriginalPaper | Buchkapitel

3. The Decision to Delist: International Empirical Evidence

verfasst von : Barbara Fidanza

Erschienen in: The Decision to Delist from the Stock Market

Verlag: Springer International Publishing

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Abstract

This chapter reviews the empirical literature. There are essentially three streams of empirical literature on delisting. The first one studies, in voluntary delisting, the link between the decision to undertake the operation and the determinants in accordance with the different theoretical models. The other two literature streams highlight the reasons that lead to involuntary delisting and study the effects of delisting on firm value. Except for company size, ex-ante performance and company age, other variables do not show clear-cut results. Small firms, firms with poor ex-ante performance, and young firms are more likely to go private. In terms of value effect, voluntary delisting increases shareholders’ wealth, whereas involuntary delisting leads to value destruction.

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Vorheriges Kapitel Leveraged Buyouts, Going Dark and the Change of the Trading Venue

Nächstes Kapitel Voluntary Delisting and Agency Costs: The Case of the London Stock Exchange

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Titel: The Decision to Delist: International Empirical Evidence
verfasst von: Barbara Fidanza
Verlag: Springer International Publishing
Buch: The Decision to Delist from the Stock Market
Print ISBN: 978-3-319-95048-8

Electronic ISBN: 978-3-319-95049-5

Copyright-Jahr: 2018
DOI: https://doi.org/10.1007/978-3-319-95049-5_3