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Giants at the Gate: On the Cross-section of Private Equity Investment Returns
Lopez-de-Silanes, Florencio; Phalippou, Ludovic; … - Volkswirtschaftliche Fakultät, … - 2010
over forty years. The median investment IRR (PME) is 21% (1.3), gross of fees. One in ten investments goes bankrupt …
Persistent link: https://www.econbiz.de/10008833275
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SPACs in Shipping
Shachmurove, Yochanan; Vulanovic, Milos - Volkswirtschaftliche Fakultät, … - 2013
In this study we examine how Specified Purpose Acquisition Companies (SPACs) were used as a financing tool for companies in the shipping industry in period 2004-2011. We confirm that SPACs focused on acquisitions in the shipping industry have similar characteristics as the population of SPACs...
Persistent link: https://www.econbiz.de/10011258716
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A Solar-Home Rental Business Model: Capturing Synergies from Solar Energy and Single Family Rental Properties
Lutey, Robert - Volkswirtschaftliche Fakultät, … - 2013
Abstract. The credit market collapse and housing-led economic recession beginning in 2007-2008 have resulted in several … to four years, a number of private equity investment pools have been buying large blocks of distressed residential … tight credit conditions portend several years of sustained growth in both the demand for rentals and rental rates …
Persistent link: https://www.econbiz.de/10011260145
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Cash Dilution in Illiquid Funds
Everts, Martin - Volkswirtschaftliche Fakultät, … - 2002
-commitment strategy and a formula to calculate the optimal degree of investment in other assets), an evaluation of the effect of cash …
Persistent link: https://www.econbiz.de/10005837078
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The Rise and Fall of Gulf Finance House
khnifer, mohammed - Volkswirtschaftliche Fakultät, … - 2010
This paper dissects the balance sheet and business model of Gulf Finance, and scrutinizes the existence of a "pre-exit premium" in their activities – on top of the usual exit fees and/or performance fees. The study suggests that this practice (uncommon even for conventional Private Equity...
Persistent link: https://www.econbiz.de/10008765627
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India's FDI Inflows: Trends and Concepts
K, S Chalapati Rao; Dhar, Biswajit - Volkswirtschaftliche Fakultät, … - 2011
India’s inward investment regime went through a series of changes since economic reforms were ushered in two decades … individual sectors, raising the hitherto existing caps on foreign holding and improving investment procedures. But after 2005 … finance the current account deficit. To keep FDI flowing in, the investment regime has to be liberalised further and M&As are …
Persistent link: https://www.econbiz.de/10008866119
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A Story on Spacs
Lakicevic, Milan; Vulanovic, Milos - Volkswirtschaftliche Fakultät, … - 2012
We study characteristics of Specified Purpose Acquisition Companies (SPACs) and examine the performance of their securities over time. We find that SPACs represent a fairly unique way to raise capital. The incentives of their founders, underwriters, and investors are interdependent and...
Persistent link: https://www.econbiz.de/10011108459
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Asset sales and the role of buyers: strategic buyers versus private equity
Hege, Ulrich; Lovo, Stefano; Slovin, Myron B.; Sushka, … - Volkswirtschaftliche Fakultät, … - 2009
We model bidding behavior and the interaction of private equity and strategic buyers in corporate asset sales. Private equity bidding and in turn seller gains, and type and time of exit, are determined by private equity's ability to enhance the asset's value. Our empirical results show excess...
Persistent link: https://www.econbiz.de/10011108711
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Private equity and venture capital in South Africa: A comparison of project financing decisions
Portmann, David; Mlambo, Chipo - Volkswirtschaftliche Fakultät, … - 2010
This paper investigates the manner in which private equity and venture capital firms in South Africa assess investment … capitalists. There is also an observable shift in the investment activities away from start-up funding and towards later …
Persistent link: https://www.econbiz.de/10011109647
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Product differentiation and systematic risk: theory and empirical evidence
Bazdresch, Santiago - Volkswirtschaftliche Fakultät, … - 2011
Firms producing differentiated products have high margins and therefore low risk. As a result firms invest more into developing differentiated products when they perceive risk is high. Higher risk also implies higher product skewness towards more differentiated products and therefore higher...
Persistent link: https://www.econbiz.de/10009397195