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Informed Capital in a Hostile Environment: The Case of Relational Investors in Germany
Schäfer, Dorothea; Schilder, Dirk - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2006
Informed capital is a crucial ingredient to a well-functioning market for start-up finance, especially in times of difficult market conditions. For bank-based systems, the question regarding which investors actually supply informed capital has not yet been answered. To fill this gap, we conduct...
Persistent link: https://www.econbiz.de/10005068684
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Drivers of Private Equity Investment in CEE and Western European Countries
Bernoth, Kerstin; Colavecchio, Roberta; Sass, Magdolna - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2010
investigate the macro-determinants of private equity investment in Europe, focusing on the comparison between CEE and Western …
Persistent link: https://www.econbiz.de/10010661266
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Drivers of Private Equity Investment in CEE and Western European Countries
Bernoth, Kerstin; Colavecchio, Roberta; Sass, Magdolna - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2010
investigate the macro-determinants of private equity investment in Europe, focusing on the comparison between CEE and Western …
Persistent link: https://www.econbiz.de/10010783950
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The Impact of Introducing an Interest Barrier: Evidence from the German Corporation Tax Reform 2008
Buslei, Hermann; Simmler, Martin - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2012
' capital structure, investment and profitability. The identification of the causal effects is based on the escape clauses in … base. In general, in the short term, no negative investment effects are caused by the TCR. This suggests that a part of the …, investment might also be fixed in the short-run for example due to long-lasting contracts. …
Persistent link: https://www.econbiz.de/10010552491
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The Private Equity Premium Puzzle Revisited: New Evidence on the Role of Heterogeneous Risk Attitudes
Fossen, Frank M. - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2008
The empirical finding that entrepreneurs tend to invest a large share of their wealth in their own firms despite comparably low returns and high risk has become known as the private equity premium puzzle. This paper provides evidence supporting the hypothesis that lower risk aversion of...
Persistent link: https://www.econbiz.de/10005068887
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Financial Constraints and Continental Business Groups: Evidence from German Konzerns
Schäfer, Dorothea; Gorodnichenko, Yuriy; Talavera, … - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2006
sensitivity of investment to cash flow. The main finding is that the reduction in the sensitivity is small for small firms and …
Persistent link: https://www.econbiz.de/10005069012
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Are Private Equity Investors Good or Evil?
Badunenko, Oleg; Barasinska, Nataliya; Schäfer, Dorothea - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2009
. Investment of a PE firm is not viewed unambiguously. First, it is claimed that PE investment is made for the sake of seeking …
Persistent link: https://www.econbiz.de/10004963859
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Bad Bank(s) and Recapitalization of the Banking Sector
Schäfer, Dorothea; Zimmermann, Klaus F. - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2009
government. The risk to taxpayers from this investment would be acceptable, however, once the banks are freed from toxic assets …
Persistent link: https://www.econbiz.de/10004963885
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Does the Tenure of Private Equity Investment Improve the Performance of European Firms?
Badunenko, Oleg; Baum, Christopher F.; Schäfer, Dorothea - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2010
The paper investigates whether the presence and tenure of Private Equity (PE) investment in European companies improves … performance of a firm that has PE backing is lower than that of a firm without PE backing in the first year of PE investment. Such …
Persistent link: https://www.econbiz.de/10008541302
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Drivers of Private Equity Investment in CEE and Western European Countries
Bernoth, Kerstin; Colavecchio, Roberta; Sass, Magdolna - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2010
investigate the macro-determinants of private equity investment in Europe, focusing on the comparison between CEE and Western …
Persistent link: https://www.econbiz.de/10008468135