Venture Capital, Private Equity and Earnings Quality
January 01, 2004
The paper examines the quality of financial statements reported by private equity (PE) backed companies in the years around the initial PE investment. The authors study both pre- and post-investment earnings characteristics of a unique hand-collected sample of 556 Belgian unlisted companies, receiving PE financing between 1985 & 1999, and a matched non-PE backed sample.
http://www.FEB.UGent.be/fac/research/WP/Papers/wp_04_221.pdf