@article { , title = {Undervaluation, private information, agency costs and the decision to go private.}, abstract = {There is widespread anecdotal evidence that poor stock market performance is an important reason for taking a company private. The results support the perceived undervaluation hypothesis. The finding also applies to management buy-outs, which indicates that the management of these firms had private information. It is also found that firms going private had non-optimal governance structures, higher board and institutional ownership. The last finding is consistent with going private transactions providing institutions with a means of existing firms with poor market valuation, particularly during a time of very limited pressure from the market for corporate control.}, doi = {10.1080/09603100500278221}, eissn = {1466-4305}, issn = {0960-3107}, issue = {13}, journal = {Applied financial economics}, note = {COMPLETED}, pages = {947-961}, publicationstatus = {Published}, publisher = {Taylor and Francis}, url = {http://hdl.handle.net/10059/277}, volume = {15}, keyword = {Private companies, Undervaluation, Leveraged buyouts, LBOs, Public to private transactions}, year = {2005}, author = {Weir, C. and Laing, D. and Wright, M.} }