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Financial literacy and stock market participation

van Rooij, Maarten; Lusardi, Annamaria; Alessie, Rob J. M. - Center for Financial Studies - 2007

of stocks and bonds, the concept of risk diversification, and the working of financial markets. We also find that the …

Persistent link: https://www.econbiz.de/10010958673

Financial literacy and retirement preparedness: Evidence and implications for financial education programs

Lusardi, Annamaria; Mitchell, Olivia S. - Center for Financial Studies - 2007

that many households are unfamiliar with even the most basic economic concepts needed to make saving and investment …

Persistent link: https://www.econbiz.de/10010958719

Private equity-, stock- and mixed asset-portfolios: A bootstrap approach to determine performance characteristics, diversification benefits and optimal portfolio allocations

Schmidt, Daniel - Center for Financial Studies - 2003

market risk. From the viewpoint of unconstrained investors with complete investment freedom, risk can be optimally reduced by …In this article, we investigate risk return characteristics and diversification benefits when private equity is used as … and simultaneous investment simulation in stocks, as well as the construction of stock portfolios for benchmarking …

Persistent link: https://www.econbiz.de/10010958618

Venture capital exit rights

Bienz, Carsten; Walz, Uwe - Center for Financial Studies - 2008

Theorists argue that exit rights can mitigate hold-up problems in venture capital. Using a hand-collected data-set of venture capital contracts from Germany we show that exit rights are included more frequently in venture capital contracts when a hold-up problem associated with the venture...

Persistent link: https://www.econbiz.de/10010958744

Going public - going private: The case of VC-backed firms

Gill, Andrej; Walz, Uwe - Center for Financial Studies - 2012

We investigate the decisions of listed firms to go private once again. We start by revealing that while a significant number of firms which go public is VC-backed, an overproportional share of these VC-backed firms go private later on (they stay on the exchange for an average of 8.5 years). We...

Persistent link: https://www.econbiz.de/10010958816

Self-protection and insurance with interdependencies

Kunreuther, Howard; Muermann, Alexander - Center for Financial Studies - 2007

We study optimal investment in self-protection of insured individuals when they face interdependencies in the form of …

Persistent link: https://www.econbiz.de/10010986430

Governance und Vertragsstrukturen in der deutschen VC Industrie: Eine empirische Einschätzung

Bienz, Carsten; Hirsch, Julia; Walz, Uwe - Center for Financial Studies - 2008

Diese Arbeit analysiert die wesentlichen Elemente der Vertragsstrukturen in der Venture Capital-Industrie. Aufbauend auf einem sehr umfangreichen und detaillierten Datensatz, der die Verträge zwischen Venture Capital-Investoren und deren Portfoliounternehmen abbildet, werden die Kontroll-,...

Persistent link: https://www.econbiz.de/10010986442

The dynamics of venture capital contracts

Bienz, Carsten; Hirsch, Julia - Center for Financial Studies - 2005

We analyze the degree of contract completeness with respect to staging of venture capital investments using a hand-collected German data set of contract data from 464 rounds into 290 entrepreneurial firms. We distinguish three forms of staging (pure milestone financing, pure round financing and...

Persistent link: https://www.econbiz.de/10010986443

The role of the value added by the venture capitalists in timing and extent of IPOs

Tykvová, Tereza - Center for Financial Studies - 2003

We analyze the venture capitalist's decision on the timing of the IPO, the offer price and the fraction of shares he sells in the course of the IPO. A venture capitalist may decide to take a company public or to liquidate it after one or two financing periods. A longer venture capitalist's...

Persistent link: https://www.econbiz.de/10010986467

Art as an alternative asset class: Risk and return characteristics of the Middle Eastern & Northern African art markets

Kräussl, Roman - Center for Financial Studies - 2014

This chapter analyzes the risk and return characteristics of investments in artists from the Middle East and Northern …

Persistent link: https://www.econbiz.de/10011076248