Showing 1 - 10 of 71
Persistent link: https://www.econbiz.de/10003247852
, we examine the impact of spatial proximity on the likelihood of an investment. We find that with each triplication of … journey time the relative likelihood of an investment decreases by one third. Venture development stage, the experience of the … entrepreneurial team, knowledge-intensity of the industry and the investment volume moderate the relationship between journey time and …
Persistent link: https://www.econbiz.de/10010305691
, we examine the impact of spatial proximity on the likelihood of an investment. We find that with each triplication of … journey time the relative likelihood of an investment decreases by one third. Venture development stage, the experience of the … entrepreneurial team, knowledge-intensity of the industry and the investment volume moderate the relationship between journey time and …
Persistent link: https://www.econbiz.de/10008659237
We propose a new approach to estimate the equity premium using CDS spreads and structural models of default. Our estimates yield equity premia of 6.50% for the U.S., 5.44% for Europe and 6.21% for Asia based on 5-year CDS spreads from 2003-2007. Due to some conservative assumptions these...
Persistent link: https://www.econbiz.de/10012707097
, we examine the impact of spatial proximity on the likelihood of an investment. We find that with each triplication of … journey time the relative likelihood of an investment decreases by one third. Venture development stage, the experience of the … entrepreneurial team, knowledge-intensity of the industry and the investment volume moderate the relationship between journey time and …
Persistent link: https://www.econbiz.de/10009219908
deals involving very small or very large investment sums, for less experienced venture capitalists and for lead investors … Germany spatial proximity between investor and investee impacts the likelihood of an investment …
Persistent link: https://www.econbiz.de/10013094966
This study examines how family firm characteristics affect capital structure decisions. In our analysis we disentangle the influence of three distinct components of a family firm: ownership, supervisory and management board activities by the founding family. Thereby, we use a unique panel...
Persistent link: https://www.econbiz.de/10010305690
We analyse to what extent the accrual anomaly is related to the choice of the accounting system as well as firm-level heterogeneity in corporate governance mechanisms. Using a unique dataset of listed German firms over the period 1995 to 2005 we first corroborate former results indicating that...
Persistent link: https://www.econbiz.de/10010305701
Around the world (with the U.S. and U.K. as exceptions) concentrated ownership structures and controlling shareholders are predominant even among listed firms. We provide novel empirical evidence how such controlling shareholders, in particular founding families, affect payout policy decisions....
Persistent link: https://www.econbiz.de/10010305703
Market liquidity is the ease of trading an asset. Its risk is the potential loss, because a security can only be traded at high or prohibitive costs. While the omnipresence and importance of market liquidity is widely acknowledged, it has long remained a more or less elusive concept. Treatment...
Persistent link: https://www.econbiz.de/10010305705