Hello, Everyone,
Recently, I've been analyzing restricted stock data with some colleagues at California State University Northridge, Professors Monica Hussein and James Dow, to better understand how various factors relate to discounts. The primary analytical methodology is a multiple regression, where we regressed restricted stock discounts on a variety of variables to find out what factors are statistically significantly related to the discounts. For comparison purposes, we also performed univariate regressions of discounts on one variable.
Some results may interest you. We found that registration rights in the univariate regression were statistically significantly related to observed discounts, but in the multiple regression, registration rights were not statistically significantly related. In other words, in isolation, registration rights are associated with lower discounts, but in the bigger picture, their impact is not statistically significant because they are simply a feature of the overall deal, which is affected by many other factors that...
