As most other countries, Germany also faces dramatic regional differences in terms of socioeconomic development. One important driver of such development is the existence of a healthy entrepreneurial activity and the creation of new companies. We argue that venture capital (VC) and especially...

Real-Estate-Private-Equity (REPE)-Finanzierungen haben sich in den Vereinigten Staaten beginnend Ende der achtziger Jahre bis Ende der neunziger Jahre zu einer bedeutenden Finanzierungsform für Immobilienprojekte entwickelt. Investoren haben jüngst auch im deutschen Immobilienmarkt...

In January 2010 the Deutsche Börse Group introduced two family firm stock indices. Both indices are calculated as price and performance indices and extend the number of investment strategy indices of Deutsche Börse Group. The DAXplus Family is an all-share index whereas the DAXplus Family 30...

This paper extends research in the field of private equity investments in family firms. It contributes to the literature by fundamentally analyzing the decision criteria of family firm owners for using minority investments of private equity investors. This type of financing might be of great...

This paper investigates the wealth effects of private equity (PE) investor purchases of shares in German quoted companies. It is the first study to analyze these effects for the German market which is particularly interesting due to its distinct characteristics with regard to the ownership...

Entrepreneurship education plays a crucial role in shaping the attitudes of students towards entrepreneurship as well as spurring the creation of future young companies. It is a crucial topic in any economy and increasingly becoming key on the agenda for universities around the world. In this...

We address the question of whether hedge fund and private equity investments in public firms are motivated by corporate governance improvements. As opposed to traditional financial investors both HF and PE are likely to have the incentives to alleviate agency conflicts. However, against the...

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...

We apply control rights theory to explain the structure and determinants of financial covenants in private equity backed leveraged buyouts. We analyze 130 German transactions from 2000 to 2008, covering about 40 percent of the LBO market during this period. We consider Germany to be a superior...

A survey conducted by the Center for Entrepreneurial and Financial Studies (CEFS) at Technische Universität München in cooperation with the chamber of commerce (IHK) for Munich and Oberbayern showed that mid-sized businesses show great interest in private equity. However, nearly 60% of the 266...