Title

The PCCW going private saga : what is a fair deal?

Document Type

Journal article

Source Publication

Issues in Accounting Education

Publication Date

2-1-2013

Volume

28

Issue

1

First Page

93

Last Page

114

Publisher

American Accounting Association

Keywords

Going private; buyout; firm value; business ethics; minority shareholder protection; PCCW

Abstract

This instructional case discusses the process and maneuvers of a going private scheme in which the controlling shareholders of Pacific Century CyberWorks (PCCW) proposed to buy out all the shares of the minority shareholders and to then delist the company. The case highlights the importance of applying accounting knowledge in evaluating the value of a company. It also exposes students to the real-world ethical issues relating to vote manipulation and minority shareholder protection in the voting process of a going private deal.

DOI

10.2308/iace-50299

Print ISSN

07393172

E-ISSN

15587983

Publisher Statement

Copyright © 2013 American Accounting Association.

Access to external full text or publisher's version may require subscription.

Full-text Version

Publisher’s Version

Recommended Citation

Cheng, S. L. S. (2013). The PCCW going private saga: What is a fair deal? Issues in Accounting Education, 28(1), 93-114. doi: 10.2308/iace-50299