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The Effect of Leverage Buyouts on Innovation (view source)
Revision as of 18:06, 3 July 2019
, 18:06, 3 July 2019→LBO data
There are also 498 'good' LBO records, which are in E:\projects\lbo\LBOBase.txt, as well as the 'Export to Dbase' sheet of the spreadsheet. Note that GENERAL HOST CORP and SBARRO INC aren't currently included because we don't have LBO dates for them. Of the 498, 490 have CS data in t=0, t=-1 or t=-2. Extending this to t=-3 adds just a single LBO and so isn't worth it. Moving to just t=0 and t=-1 reduces the count to 434, which was a big loss.
===Multiple LBOs===
We can't use all of the LBOs because sometimes they are the same firm having more than one LBO. The following records have that issue:
SELECT gvkey, count(*) FROM LBO GROUP BY gvkey ORDER BY COUNT(*) DESC;
/*
gvkey count
013657 2
029909 2
013394 2
005976 2
009502 2
*/
SELECT * FROM LBO WHERE GVKEY IN ('013657', '029909', '013394', '005976', '009502') ORDER BY GVKEY;
dealnum fyear gvkey name gopvtdate gopvtyear exitdate exityear lbodurdays lboduryears exittype exitcode sic
281 1997 005976 Insilco Corp 1998-08-17 1998 2002-12-15 2002 1581 4.3315067 Bankruptcy 5 3678
178 1987 005976 Insilco Corp 1988-12-14 1988 1991-01-15 1991 762 2.0876713 Bankruptcy 5 3678
47 1984 009502 SCOA Industries Inc 1985-12-10 1985 2012-07-15 2012 9714 26.613699 Still Private 4 5331
555 1984 009502 SCOA 1985-12-01 1985 1997-03-01 1997 4108 11.254794 Financial Buyer 3 5331
77 1986 013394 Budget Rent-A-Car Corp 1986-09-30 1986 1987-04-15 1987 197 0.539726 IPO 1
191 1988 013394 Budget Rent-A-Car Corp 1989-03-30 1989 1996-08-15 1996 2695 7.3835616 Strategic Buyer 2 7510
561 1996 013657 Alliance Imaging Inc acquired by Apollo 1997-07-15 1997 1999-11-03 1999 841 2.3041096 Financial Buyer 3 8071
185 1987 013657 Alliance Imaging Inc 1988-11-16 1988 1991-11-15 1991 1094 2.9972603 IPO 1 8071
347 1999 029909 Petco Animal Supplies Inc 2000-10-02 2000 2002-02-15 2002 501 1.3726027 IPO 1 5990
476 2005 029909 Petco Animal Supplies Inc_2 2006-10-26 2006 2012-07-15 2012 2089 5.7232876 Still Private 4 5990
===Code===
