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What influences investors' perceptions of private equity firm window dressing at IPO?
Ross, Donald; Hopkins, Mike - In: International Journal of Behavioural Accounting and Finance 2 (2011) 3/4, pp. 259-272
Fear of private equity (PE) firms 'putting lipstick on the pig' when divesting investee companies is common in the IPO investor market. PE firms wishing to maximise their exit value showcase investee companies in the best possible light. While PE firms are thought to add considerable value to...
Persistent link: https://www.econbiz.de/10010668772
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Private matters
Helwege, Jean; Packer, Frank - Bank for International Settlements (BIS) - 2008
Why do private firms stay private? Empirical evidence on this issue is sparse, as most private firms in the US do not report their financial results. We investigate why private status matters by taking advantage of a unique dataset of large, leveraged private firms with SEC filings. Unlike a...
Persistent link: https://www.econbiz.de/10005157609
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Germany; Technical Note on Banking Sector Structure
International Monetary Fund (IMF); International … - 2011
This Technical Note focuses on banking sector structure in Germany. Germany’s banking system comprises three “pillarsâ€â€”private commercial banks, public sector banks, and cooperative banks—distinguished by the ownership structure and business orientation. The German...
Persistent link: https://www.econbiz.de/10011244755
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Private Equity, Corporate Governance and Out-Performance of High-Growth Firms
Badunenko, Oleg; Karber, Moritz Fabien; Schäfer, Dorothea - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2010
The paper investigates how Private Equity (PE) ownership influences out-performance of a high-growth firm, and whether it differs from the effect of two other important types of financial investors: banks and non-bank financial firms. We transform the levered return on equity into a unlevered...
Persistent link: https://www.econbiz.de/10010661265
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Private Equity, Corporate Governance and Out-Performance of High-Growth Firms
Badunenko, Oleg; Karber, Moritz Fabien; Schäfer, Dorothea - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2010
The paper investigates how Private Equity (PE) ownership influences out-performance of a high-growth firm, and whether it differs from the effect of two other important types of financial investors: banks and non-bank financial firms. We transform the levered return on equity into a unlevered...
Persistent link: https://www.econbiz.de/10011128093
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The Impact of Private Equity Ownership on Corporate Tax Avoidance
Badertscher, Brad; Katz, Sharon P.; Rego, Sonja Olhoft - Harvard Business School, Harvard University - 2009
This study investigates whether private equity (PE) firms influence the tax practices of their portfolio firms. Prior research documents that PE firms create economic value in portfolio firms through effective governance, financial, and operational engineering. Given PE firms' focus on value...
Persistent link: https://www.econbiz.de/10005061520
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Financial intermediaries, ownership structure and the provision of venture capital to SMEs: evidence from Japan
Cumming, Douglas; Fleming, Grant; Schwienbacher, Armin - In: Small Business Economics 31 (2008) 1, pp. 59-92
Persistent link: https://www.econbiz.de/10005722496
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Financing innovation: an historical approach
Matouk, Jean - In: Journal of Innovation Economics n° 6 (2010) 2, pp. 147-161
Persistent link: https://www.econbiz.de/10008694085
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Innovation and R&D investments by leveraged buyout companies in times of crisis
Bertoni, Fabio; Nadant, Anne-Laure Le; Perdreau, Frédéric - In: Economics Bulletin 34 (2014) 2, pp. 856-864
We study innovation and R&D investments made from 2008 to 2010 by UK companies that were the targets of leveraged … buyout (LBO) in previous years. We find that overall, LBO companies do not exhibit lower innovation and R&D investments than … non-LBO companies during the crisis, with other things being equal. However, innovation and R&D investments decline …
Persistent link: https://www.econbiz.de/10010770412
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Corporate Finance: The Role of the Private Equity Funds in Restructuring of the Economic Productive Tissue
Benslimane, Sonia; Poix, Michel - Université Paris-Dauphine (Paris IX) - 2009
based on innovation. Private equity activity is in this regard a better mode of financing innovative enterprises added to …
Persistent link: https://www.econbiz.de/10010861399