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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
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The dynamics of venture capital contracts
Bienz, Carsten; Hirsch, Julia - Center for Financial Studies - 2005
expected distribution of bargaining power between the contracting parties when new funding becomes necessary and the … expected bargaining power - the maximum level depending on the predictability of the development process. …
Persistent link: https://www.econbiz.de/10010986443
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Why do contracts differ between VC types? Market segmentation versus corporate governance varieties
Hirsch, Julia; Walz, Uwe - Center for Financial Studies - 2006
The main objective of the present paper is to disentangle observed differences in the design of contracts across VC types into firm selection effects and corporate governance differences between VC types (different contracts). Based on a theoretical approach developed in the first part of the...
Persistent link: https://www.econbiz.de/10010958526
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Venture capital exit rights
Bienz, Carsten; Walz, Uwe - Center for Financial Studies - 2008
power and the degree of pledgeable income that drive the allocation of exit rights. …
Persistent link: https://www.econbiz.de/10010958744
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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
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Why Do Contracts Differ between VC Types? Market Segmentation versus Corporate Governance Varieties
Hirsch, Julia; Walz, Uwe - Center for Financial Studies - 2006
The main objective of the present paper is to disentangle observed differences in the design of contracts across VC types into firm selection effects and corporate governance differences between VC types (different contracts). Based on a theoretical approach developed in the first part of the...
Persistent link: https://www.econbiz.de/10005120763
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Institutional investors in Germany : insurance companies and investment funds
Maurer, Raimond (contributor) - 2003 - [Elektronische Ressource]
Persistent link: https://www.econbiz.de/10001815192
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The Basle scuritisation framework explained: The regulatory treatment of asset securitisation
Jobst, Andreas A. - Center for Financial Studies - 2005
The paper provides a comprehensive overview of the gradual evolution of the supervisory policy adopted by the Basle Committee for the regulatory treatment of asset securitisation. We carefully highlight the pathology of the new securitisation framework to facilitate a general understanding of...
Persistent link: https://www.econbiz.de/10010986448
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Regulation and Competition in German Banking: An Assessment
Fischer, Karl-Hermann; Pfeil, Christian - Center for Financial Studies - 2003
In Germany a public discussion on the power of banks has been going on for decades now with the term power having at … least two meanings. On the one hand, it denotes the power of banks to control public corporations through direct … shareholdings or the exercise of proxy votes this is the power of banks in corporate control. On the other hand, the market power …
Persistent link: https://www.econbiz.de/10010986452
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The determinants of inflation differentials in the euro area
Moretti, Laura - Center for Financial Studies - 2014
Inflation differentials in the euro area have been persistent since the adoption of the single currency. This paper analyzes the impact of product and labor market regulation on inflation in a sample of 11 countries. The results show that, after the adoption of the euro, product market...
Persistent link: https://www.econbiz.de/10010958496