Título: | POST-IPO PERFORMANCE OF PRIVATE EQUITY AND VENTURE CAPITAL INVESTED COMPANIES | ||||||||||||
Autor(es): |
ALLAN HOFSTRA |
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Colaborador(es): |
MARCELO CABUS KLOTZLE - Orientador |
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Catalogação: | 18/OUT/2019 | Língua(s): | PORTUGUESE - BRAZIL |
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Tipo: | TEXT | Subtipo: | SENIOR PROJECT | ||||||||||
Notas: |
[pt] Todos os dados constantes dos documentos são de inteira responsabilidade de seus autores. Os dados utilizados nas descrições dos documentos estão em conformidade com os sistemas da administração da PUC-Rio. [en] All data contained in the documents are the sole responsibility of the authors. The data used in the descriptions of the documents are in conformity with the systems of the administration of PUC-Rio. |
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Referência(s): |
[pt] https://www.maxwell.vrac.puc-rio.br/projetosEspeciais/TFCs/consultas/conteudo.php?strSecao=resultado&nrSeq=45769@1 [en] https://www.maxwell.vrac.puc-rio.br/projetosEspeciais/TFCs/consultas/conteudo.php?strSecao=resultado&nrSeq=45769@2 |
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DOI: | https://doi.org/10.17771/PUCRio.acad.45769 | ||||||||||||
Resumo: | |||||||||||||
The purpose of the study is to compare the performance of Private Equity and Venture Capital (PE/VC) invested companies after going public on the Brazilian stock market, evaluating whether their presence exerts significant influence in the long-term returns of the investees. Considering the period between 2009 and 2015, the final sample consisted of 23 IPOs, 13 of which related to PE/VC backed companies and 10 without these investors. The companies were gathered into groups, whose final variation was given by the individual return balanced by the market capitalization on the IPO date. Using the Buy-and-Hold method, the performance of the companies were evaluated considering their trading prices first time when going public and comparing it after three years of negotiation. The results reveal a better performance by the group supported by Private Equity and Venture Capital, implying the notion that such agents influence in a positive way the investee returns.
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