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Cash Dilution in Illiquid Funds
Everts, Martin - Volkswirtschaftliche Fakultät, … - 2002
Cash dilution, the effect of performance reduction through cash, exists in almost every illiquid fund. This article provides a brief overview of the problems of cash dilution in illiquid private equity fund of funds, a formula for the calculation of the cost of cash dilution, two possible...
Persistent link: https://www.econbiz.de/10005837078
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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 million distressed homes in the U.S. that are in various stages of delinquency, default, and foreclosure. Over the past three to four years, a number of private equity...
Persistent link: https://www.econbiz.de/10011260145
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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 back. The expectation of the policy makers was that an “investor friendly” regime will help India establish itself as a preferred destination of foreign investors. These...
Persistent link: https://www.econbiz.de/10008866119
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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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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 opportunities. The analysis was facilitated using a survey containing both Likert-scale and open-ended questions. The key findings show that both private equity and venture...
Persistent link: https://www.econbiz.de/10011109647
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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
We examine the determinants of private equity returns using a newly constructed database of 7,500 investments worldwide over forty years. The median investment IRR (PME) is 21% (1.3), gross of fees. One in ten investments goes bankrupt, whereas one in four has an IRR above 50%. Only one in eight...
Persistent link: https://www.econbiz.de/10008833275
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The Theoretical Framework and System of Innovation within Enterprises: Based on the Perspective of Ownership
Chen, Yan; Zhang, Bin - Volkswirtschaftliche Fakultät, … - 2013
This paper proposed a theoretical framework of innovation based on the perspective of ownership, and constructed an … empirical research system of the relationship between ownership structure and innovation. In view of existing theme scattered … innovation which was regarded as a general theoretical framework for scholars in this domain. Meanwhile, this paper constructed …
Persistent link: https://www.econbiz.de/10011257988