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Smit, Han T. J.; Berg, Ward A. van den - 2006

This study presents a dynamic model for the private equity market in which information revelation and uncertainty rationally explain the cyclical pattern of investment flows into private equity. The net benefit of private equity over public equity is i) uncertain and ii) agents have private...

Persistent link: https://www.econbiz.de/10011349200

Cross-border mergers and acquisitions : the role of private equity firms

Humphery-Jenner, Mark; Sautner, Zacharias; Suchard, Jo-Ann - 2012

Persistent link: https://www.econbiz.de/10010191017

Can private equity funds act as strategic buyers? : evidence from buy-and-build strategies

Bansraj, Dyaran S.; Smit, Han T. J.; Volosovych, Vadym - 2020

By holding assets longer and increasingly focusing on growth strategies private equity firms enter the territory of strategic buyers. In one such strategy, a private equity firm buys a company and then builds on that "platform" through add-on acquisitions. We ask whether such serial...

Persistent link: https://www.econbiz.de/10012241756

The political economy of dominant investors

Perotti, Enrico C.; Thadden, Ernst-Ludwig von - 2005

We allow the preference of a political majority to determine boththe corporate governance structure and the division of profits betweenhuman and financial capital. In a democratic society where financialwealth is concentrated, a political majority may prefer to restraingovernance by dispersed...

Persistent link: https://www.econbiz.de/10011337975

Buyouts and agglomeration bonuses in wildlife corridor auctions

Dijk, Justin; Ansink, Erik; Soest, Daniël Pieter van - 2017

predicts individual landowners' bids, overall participation rates in the auction, as well as the expected net benefits to the … conservation agency. We find that market efficiency of the auction increases in the number of potential corridors. We use … simulations to compare a benchmark auction with two policy scenarios in a hypothetical landscape. In one scenario, members of a …

Persistent link: https://www.econbiz.de/10011636462

Giants at the gate : on the cross-section of private equity investment returns

López-de-Silanes, Florencio; Phalippou, Ludovic; … - 2010

We examine the determinants of private equity returns using a newly constructed database of 7,500investments worldwide over forty years. The median investment IRR (PME) is 21% (1.3), gross offees. One in ten investments goes bankrupt, whereas one in four has an IRR above 50%. Only one ineight...

Persistent link: https://www.econbiz.de/10011383185