The theory of behavioral economics examines the behavior of individuals in markets in order to examine, explain and predict individual behavior. The psychology of behavior has evolved in order to explain the impact of emotions and most common cognitive errors in the decision-making process of...

We extend the research on the drivers of holding period firm-level returns in private equity (PE)-backed buyouts by examining deal-, industry-, and macroeconomic-level drivers and their interaction. To conduct our study, we use a comprehensive and hand-collected dataset covering exited buyouts...

This paper provides an overview of the possible linkages between state-owned banks, privatization, and banking sector crises. Data on privatizations in over 65 countries is used together with data from the banking crisis literature to consider the relationship between state-owned banks and...

This paper develops and tests new theory about the determinants of value creation in unrelated multibusiness firms from a resource-based perspective. The authors argue that the availability of "headquarter resources", which are at the basis of headquarter services provided to the business units,...

Abstract: To address the question as to whether managers manipulate accounting numbers downwards prior to management buyouts (MBOs), we implement an industry-adjusted buyout-specific approach and receive an affirmative answer. In UK buyout companies, negative earnings manipulation (understating...

"This article uses the total population of firms, as contained in the Employee History ('Beschäftigten-Historik') of the IAB, to analyse the dynamics of employment in establishments of different size classes. This analysis is therefore the first of its kind to include all economic sectors for...

Der vorliegende Beitrag zeigt die Formulierung, Implementierung und Auswertung eines mathematischen Optimierungsmodells anhand eines Falls aus der Beratungspraxis, der die schrittweise Weiterentwicklung einer patentbasierten Technologie durch eine neu zu gründende Gesellschaft zum Gegenstand...

Die Unternehmensdatenbank der Weltbank stellt Indikatoren bereit, anhand derer sich unternehmensbezogene Regulierungen von mehr als 130 Ländern vergleichen lassen, unter anderem auch Daten und Informationen zur Gründung von Unternehmen. Danach können kleine und mittelgroße Unternehmen in...

"The transformation process in the new Federal states is often subdivided into a 'transformation from above' (the splitting up of the old enterprises) and a 'transformation from below' (establishment of new enterprises). In this article these two partial processes are considered both with regard...

"This paper focuses on the question of whether improving the competence of new business founders by means of coaching and training programs enhances the duration of self-employment. In our analysis we focus on support activities that are provided in addition to a financial subsidy and which...