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...

A common method of valuing the equity in leveraged transactions is the flows-to-equity method whereby the free cash flow available to equity holders is discounted at the cost of equity. This method uses a standard definition of equity free cash flow, but the cost of equity varies over time as...

Der vorliegende Beitrag analysiert die Ausgestaltung der Desinvestition einer Konzerneinheit im Rahmen eines Buy Out an institutionelle Private-Equity-Investoren. Der Arbeitskreis Finanzierung der Schmalenbach-Gesellschaft hat dafür eine explorative empirischeUntersuchung von 33...

This paper extends research in the field of private equity investments in family firms. It contributes to the literature by fundamentally analyzing the decision criteria of family firm owners for using minority investments of private equity investors. This type of financing might be of great...

Gesundheitswirtschaft und Kreativwirtschaft sind bereits heute Branchen, die die Volkswirtschaftin der Bundesrepublik maßgeblich prägen. Dabei bestehen zwischen beiden Sektorendeutliche Verflechtungen und Interdependenzen, von denen beide Branchen maßgeblichprofitieren. Ziel der vorliegenden...

A model of English auction that allows jump bidding is proposed. When twoobjects are sold separately via such English auctions, I construct an equilibrium suchthat bidders signal via jump bids, thereby forming rational expectations of the priceswithout relying on any central mediator. This...

Collaboration between different organisational partners is a process critical tothe success of many organisations. It is also frequently a complex process.There are many reasons to collaborate. Often partners have specific objectivesin mind. Partners may collaborate on the design of a car...

Polish businesses are passing the fifteen year mark of the free market experience. The important processes that could be observed during that time include the formation of groups of companies. What were the establishment paths of these multiple organisations and what was the impact of historical...

Die vorliegende Fallstudienuntersuchung, die auf einem zweistündigem Gesprächzwischen Herrn Schulze und den Herren Dr. Schmidt (Wirtschaftsredakteur und Internet-Koordinator, verantwortlich für Konzeption und Koordination zwischen Printund Internet) und Fallier (Assistent der...