The Effects of Growth Opportunity and Credit Worthiness on Price Discounts in Private Equity Placement
Date Issued
2014
Date
2014
Author(s)
Chen, Feng-Shih
Abstract
The purpose of this study is to examine the effect of growth opportunity and credit worthiness on the price discount of private equity placement. The sample period starts from the beginning of 2006 to the end of 2012.
The result shows that the discount of private equity placement is negatively related to total assets growth rate and dummy variable for stock dividends payout. The discount of private equity placement is greater when earning-price ratio is larger. In addition, return on assets ratio, interest coverage ratio and cash flow ratio are negatively related to the discount of private equity placement. Finally, the discount of private equity placement is positively related to debt ratio.
Subjects
私募股權
折價
成長機會
信用品質
Type
thesis
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ntu-103-R01724043-1.pdf
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