In diesem Aufsatz wird ein lagerhaltungstheoretischer Ansatz der Gründungsfinanzierung entwickelt. Die Parameter des Standardmodells der Lagertheorie lassen sich im Hinblick auf ein Gründungsfinanzierungsproblem uminterpretieren. Die Einstandspreise des externen Kapitals sind dabei...

Based on a survey conducted among German Mittelstand firms and capital structure data on the Mittelstand, this paper sheds light on the current and future financing situation of the Mittelstand. The paper documents the equity shortage and dependence on bank debt typically associated with the...

There is now extensive evidence on short-term performance improvements in buy-outs, but little relating to the longer-term. This paper examines the relatively neglected area of the longevity and longer-term effects of smaller buy-outs. In terms of longevity, the evidence presented shows that the...

This study utilizes a human capital framework to explore whether business ownership experience is associated with the number of business opportunities identified, the number of identified opportunities that are pursued, and the nature of those opportunities. Information from a large...

The paper analyses the impact of private equity (PE) backed leveraged buyouts (LBOs) on innovation output (patenting). Using a sample of 407 UK deals we find that LBOs have a positive causal effect on patent stock and quality-adjusted patent stock. Our results imply a 6% increase in...