Management buyouts: distinguishing characteristics and operating changes prior to public offering
Article Abstract:
Companies that go private as a consequence of management buyouts (MBOs) experience greater takeover speculation before the MBO, usually have higher cash flow levels as a percentage of sales, and have lower levels of receivables as a percentage of sales than other firms in their industries. The revenues of privately held companies grow faster than industry averages in the three years before the public offering of their stock. Research results reveal that private firms resulting from MBOs maintain better-than-average inventory management, accounts receivable, and operating income, suggesting better management performance following MBOs.
Publication Name: Strategic Management Journal
Subject: Business
ISSN: 0143-2095
Year: 1990
User Contributions:
Comment about this article or add new information about this topic:
The diffusion of technological innovation in the commercial banking industry
Article Abstract:
One hundred fifty-two of the largest banks in the US were studied to examine the factors determining a firm's propensity to implement technological innovation, specifically video-banking services. Results of the study show that the banks' decision to adopt innovations are influenced by accumulated information technology experiences and their inclination to network with information techonology firms. Banks with more exposure to information technology and with greater interfirm linkages are the ones most likely to adopt video banking.
Publication Name: Strategic Management Journal
Subject: Business
ISSN: 0143-2095
Year: 1992
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: An explanation for accounting income smoothing. Determinants of auditor change in the public sector. Selecting experimental and comparison samples for use in studies of auditor reporting decisions
- Abstracts: Venture capitalist certification in initial public offerings. Initial public offering underpricing: the issuer's view - a comment
- Abstracts: Accounting measurement, price-earnings ratio, and the information content of security prices. Incentives for accruing costs and efficiency in regulated monopolies subject to ROE constraint
- Abstracts: Decision making, cognitive science and accounting: an overview of the intersection. The efficacy of a red flags questionnaire for assessing the possibility of fraud
- Abstracts: Uses and abuses of advertising. How to build a contented workforce. People power