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Title: The firm lifecycle as a determiant of going private decisions
Authors: Schroeter, Lucia 
Gutsche, Robert 
Issue Date: 2017
Journal: International Conference on Advances in Business, Management and Law (ICABML) 2017 
Conference: University of Dubai (UD) -International Conference on Advances in Business Management and Law- 2017 
Abstract: We examine the impact of corporate lifecycle on the likelihood of becoming a voluntary going private firm. We apply the firm’s capital mix as a measure for the stage in a firm’s lifecycle. In doing so, we provide a framework and evidence on firm characteristics of going private firms. We find that the decision to go private depends on the firm’s lifecycle. Young firms, with low retained earnings are more likely to go private than mature or old firms. We also find that relative firm characteristics of going private and non-going private firms are consistent with the findings on relative firm characteristics in M & A activity research for acquirers (bidders, non-targets) vs. non-acquirer (non-bidders, and targets) and that these relative firm characteristics of going private and non-going private firms stay constant throughout all stages of the corporate lifecycle
DOI: 10.30585/icabml-cp.v1i1.14
Appears in Collections:Conference Papers

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