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Private equity funds and hedge funds: a primer
Achleitner, Ann-Kristin; Kaserer, Christoph - 2005
Private equity funds and hedge funds are both alternative asset classes that are continuously growing in importance. Although they have different focuses, they share some characteristics. First of all, both have or allegedly have a significant impact on the economy as well as the financial...
Persistent link: https://www.econbiz.de/10010305729
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Private equity funds and hedge funds: a primer
Achleitner, Ann-Kristin; Kaserer, Christoph - Fakultät für Wirtschaftswissenschaften, Technische … - 2005
Private equity funds and hedge funds are both alternative asset classes that are continuously growing in importance. Although they have different focuses, they share some characteristics. First of all, both have or allegedly have a significant impact on the economy as well as the financial...
Persistent link: https://www.econbiz.de/10009219903
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Does family matter? Venture capital cross-fund cash flows
Kräussl, Roman; Rinne, Kalle; Sunc, Huizhu - 2023
Venture capital (VC) funds backed by large multi-fund families tend to perform substantially better due to cross-fund cash flows (CFCFs), a liquidity support mechanism provided by matching distributions and capital calls within a VC fund family. The dynamics of this mechanism coincide with the...
Persistent link: https://www.econbiz.de/10013557355
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How much for a haircut? : illiquidity, secondary markets, and the value of private equity
Bollen, Nicolas P. B.; Sensoy, Berk A. - 2016
Limited partners (LPs) of private equity funds commit to invest with extreme levels of illiquidity and significant uncertainty regarding the timing of capital flows. Secondary markets have emerged which alleviate some of the associated cost. This paper develops a subjective valuation model...
Persistent link: https://www.econbiz.de/10011772208
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Does family matter? : venture capital cross-fund cash flows
Kräussl, Roman; Rinne, Kalle; Sunc, Huizhu - 2022
Venture capital (VC) funds backed by large multi-fund families tend to perform substantially better due to cross-fund cash flows (CFCFs), a liquidity support mechanism provided by matching distributions and capital calls within a VC fund family. The dynamics of this mechanism coincide with the...
Persistent link: https://www.econbiz.de/10013555504
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Differential Effects of Law, Culture and Political Risk on Performance and Risk-taking Behavior of Fund Managers
Mehri, Meryem - Université Paris-Dauphine (Paris IX) - 2014
, and political risk affect the performance and risk-taking behavior of mutual funds. Overall, the results show strongly … that legal conditions, culture, and political risk have robust differential effects on performance and risk-taking behavior … conditions, higher corruption and political risk have higher performance. Likewise, in such conditions, both of Islamic and …
Persistent link: https://www.econbiz.de/10011082472
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The Differential Effects of Law, Culture and Political Risk on Fees, Performance and Risk-Taking Behavior of Islamic and Conventional Funds
Mehri, Meryem - Université Paris-Dauphine (Paris IX) - 2014
, and political risk affect the performance, risk-taking behavior and compensation fees of mutual funds. Overall, the … results show strongly that legal conditions, culture, and political risk have robust differential effects on fees, performance … management fees and weaker expense ratio. In such conditions, conventional and Islamic fund managers have lower performance and …
Persistent link: https://www.econbiz.de/10010760434
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Stochastic modeling of private equity: an equilibrium based approach to fund valuation
Buchner, Axel; Kaserer, Christoph; Wagner, Niklas - 2006
In this paper, we present a new approach to measure the returns of private equity investments based on a stochastic model of the dynamics of a private equity fund. Our stochastic model of a private equity fund consists of two independent stages: the stochastic model of the capital drawdowns and...
Persistent link: https://www.econbiz.de/10010305730
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What drives cash flow based European private equity returns? Fund inflows, skilled GPs and/or risk?
Kaserer, Christoph; Diller, Christian - 2004
This paper analyzes the determinants of returns generated by European private equity funds. It starts from the presumption that this asset class is characterized by illiquidity, stickiness and segmentation. As a consequence, Gompers and Lerner (2000) have shown that venture deal valuations are...
Persistent link: https://www.econbiz.de/10010305813
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What drives cash flow based European private equity returns? Fund inflows, skilled GPs and/or risk?
Kaserer, Christoph; Diller, Christian - Fakultät für Wirtschaftswissenschaften, Technische … - 2004
This paper analyzes the determinants of returns generated by European private equity funds. It starts from the presumption that this asset class is characterized by illiquidity, stickiness and segmentation. As a consequence, Gompers and Lerner (2000) have shown that venture deal valuations are...
Persistent link: https://www.econbiz.de/10009219909