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We compare the characteristics of conglomerates and private equity entities. This is done by examining the differences among their business models. We analyze the relations of the two entity types to their investors on the one hand and to their investments on the other hand. The distinguishing...
Persistent link: https://www.econbiz.de/10005870386
Private equity funds and hedge funds are both alternative asset classes that are continuouslygrowing in importance. Although they have different focuses, they share some characteristics.First of all, both have or allegedly have a significant impact on the economy as well as thefinancial system...
Persistent link: https://www.econbiz.de/10005870406
The paper offers a new explanation for the widely observed use of redeemable and convertible preferred stock in venture capital finance. Redeemable and convertible preferred stocks can be used to endogenously allocate cash flow and control rights as a function of the state of nature, the...
Persistent link: https://www.econbiz.de/10005840141
This paper presents a theory of inititial public offerings based on the idea that the optimal ownership structure of a company changes over the life cycle of the firm. Insiders take the company public when they have lost the comparative advantage over outsiders in gathering information to...
Persistent link: https://www.econbiz.de/10005841036
Published annually, this fact book provides statistics from the Tokyo Stock Exchange.
Persistent link: https://www.econbiz.de/10005842917
This paper investigates the determinants of European financial analysts' forecasts differential accuracy.
Persistent link: https://www.econbiz.de/10005843252
This paper estimates the issuers' demand for the banker's underwriting service across different varieties of equity-linked securities.
Persistent link: https://www.econbiz.de/10005843436
This paper investigates the relative performance of local and foreign financial analysts on Latin American emerging markets.
Persistent link: https://www.econbiz.de/10005843437
This paper shows how this becomes an informational first-mover advantage that turns innovators into the market leader.
Persistent link: https://www.econbiz.de/10005843438
This paper shows how a financial institution can profit from the development of financial products even if they are unpatentable.
Persistent link: https://www.econbiz.de/10005843480