Showing 1 - 10 of 10,368
This paper presents a long overdue reassessment of entrepreneurship through acquisition (ETA). Traditionally considered … simply a niche occurrence of small company leveraged buyouts (LBO), ETA is actually a meaningful contributor to a nation … entrepreneurial intents and outcomes of ETA. By examining the theoretical streams of LBO and entrepreneurship finance in practical …
Persistent link: https://www.econbiz.de/10010762496
China's short stock market history has already seen three merger waves, yet little is known of the performance drivers … measure. A larger acquirer size is associated with a larger takeover size, but a lesser target ratio is relative to the size …
Persistent link: https://www.econbiz.de/10010790710
This Paper compares the financing of new ventures in start-ups (entrepreneurship) and in established firms … can arise (and sometimes coexist). In a low (high) entrepreneurship equilibrium, the market for failed entrepreneurs is … (entrepreneurship). We also characterize conditions under which there can be too little or too much entrepreneurial activity in …
Persistent link: https://www.econbiz.de/10005789057
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 majority remain as independent buy-outs for at least eight years after the …
Persistent link: https://www.econbiz.de/10010790670
In the bank-borrower setting, a firm's existing lender may exploit its positional advantage to extract rents from the firm in subsequent financings. Analogously, a startup's existing venture capital investors (VCs) may dilute the founder through a follow-on financing from these same VCs (an...
Persistent link: https://www.econbiz.de/10011052898
We examine the effect of trust on financial investment and contracting decisions in a micro-economic environment where trust is exogenous. Using hand-collected data on European venture capital, we show that the Eurobarometer measure of trust among nations significantly affects investment...
Persistent link: https://www.econbiz.de/10011090711
This article analyzes the determinants of the European venture capital market, extending the equilibrium model from Jeng and Wells (2000). Our empirical model includes many of the determinants already tested in previous studies. In addition, we test whether the unemployment rate, the trade sale...
Persistent link: https://www.econbiz.de/10005549331
The current downturn in the American and Western European economies, combined with increasing regulatory pressure on private equity throughout the developed world, made emerging markets an attractive destination for private equity. As part of the emerging markets, Central and Eastern Europe's...
Persistent link: https://www.econbiz.de/10005404535
strategies toward the LBO transactions implementation, and 2) to compute the direct/reverse LBO transaction probability number … toward the LBO transactions implementation at the resonant absorption of discrete information in the diffusion - type …
Persistent link: https://www.econbiz.de/10011156987
The authors perform an original research on the fundamentals of winning virtuous strategies creation toward the leveraged buyout transactions implementation during the private equity investment in the conditions of the resonant absorption of discrete information in the diffusion - type financial...
Persistent link: https://www.econbiz.de/10011107335