Financial characteristics of leveraged buyouts

Article Abstract:

A leveraged buyout (LBO) is the financial restructuring of a firm by through the use of debt to buy all of its outstanding stocks. Seven assumptions on the financial profile of firms that experience LBOs were analyzed and the possibility of forecasting LBOs was studied. Samples of LBO firms and manufacturing firms that did not experience LBOs or mergers were taken and studied. Results revealed that LBO firms had more free cash flow and more debt and are more efficient than non-LBO firms. It was also found that forecasting LBOs is possible based on firms' financial profiles and the use of a binary logit model and split-sampling.

Leveraged buyouts

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How certain firm-specific characteristics affect the accuracy and dispersion of analysts' forecasts: a latent variables approach

Article Abstract:

A latent variable approach was used to determine the effect of firm-specific attributes on the uncertainty of analysts' earnings forecasts. Business risk, financial risk and ownership concentration were considered as firm-specific attributes of production, investment and financial activities. The amount of information about firms was also regarded as a firm-specific attribute. The results show that uncertainty of analysts' earnings forecasts is a function of business risk, financial risk and ownership concentration, and is negatively correlated with the amount of available information.

Business forecasting

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Matching electronic distribution channels to product characteristics: the role of congruence in consideration set formation

Article Abstract:

Functionality of distribution channels may be of higher significance as compared to the ease of use. Retail stores are the most widely used distribution channels followed by banks, mail and phones, among others.In delivering banking services, distribution channels are judged to be appropriate in terms of high technology and traditional. Consumers aiming to open a savings account are more likely to do so with a bank than using a PC with a modem since banks are more preferred than PC as a delivery vehicle.

Distribution Channels, Evaluation, Financial services industry, Financial services, Marketing

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