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Privatization decisions of Australian firms: An empirical investigation

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  • Akhtar, Shumi

Abstract

This study revisits the determinants of Australian public firms that choose to go private. The new determinants hypothesized in this study - the presence of financial crises, stock salience and excessive foreign operations - are found to be crucial to a firm's decision to go private. While these determinants are found to be present at the time of the Initial Public Offering (IPO), it still takes an average of thirteen and a half years post-IPO for a public firm to back to being private.

Suggested Citation

  • Akhtar, Shumi, 2016. "Privatization decisions of Australian firms: An empirical investigation," Pacific-Basin Finance Journal, Elsevier, vol. 39(C), pages 243-255.
    • Handle: RePEc:eee:pacfin:v:39:y:2016:i:c:p:243-255
    DOI: 10.1016/j.pacfin.2016.06.010
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