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Unternehmensnachfolgen in Deutschland: Aktuelle Trends
Moog, Petra; Kay, Rosemarie; Schlömer-Laufen, Nadine; … - Institut für Mittelstandsforschung (IfM) Bonn - 2012
Da in Deutschland im Jahr 1989 letztmalig eine großzahlige, bundesweite Unternehmensbefragung zum Thema Nachfolge … Unternehmensnachfolge an der Universität Siegen in Kooperation mit dem IfM Bonn im Winter 2008/2009 eine Befragung von bundesweit 14 … SME Research Bonn among 14,203 businesses. Finally, 1,171 businesses owners participated in the survey. Owners, who will …
Persistent link: https://www.econbiz.de/10010981737
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Hedge funds versus private equity funds as shareholder activists in Germany — differences in value creation
Mietzner, Mark; Schweizer, Denis - In: Journal of Economics and Finance 38 (2014) 2, pp. 181-208
We investigate the valuation effects of German firms targeted by hedge funds and by private equity investors. We argue that both types of investors differ from other blockholders by their strong motivation and ability to actively engage and reduce agency costs. Consequently, we find positive...
Persistent link: https://www.econbiz.de/10010999014
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Performance benefits of tight control
Gill, Andrej; Visnjic, Nikolai - Research Center SAFE (Sustainable Architecture for … - 2013
This study investigates the transition from being a listed company with a dispersed ownership structure to being a privately held company with a concentrated ownership structure. We consider a sample of private equity backed portfolio companies to evaluate the consequences of the corporate...
Persistent link: https://www.econbiz.de/10010955138
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Private equity investments and disclosure policy
BEUSELINCK, Christophe; DELOOF, Marc; MANIGART, Sophie - Faculteit Toegepaste Economische Wetenschappen, … - 2004
We investigate whether a firm’s disclosure policy is affected by the changing corporate setting and intensified corporate governance associated with private equity (PE) investments. For a unique sample of unquoted PE backed firms we observe a significant switch to increased financial...
Persistent link: https://www.econbiz.de/10005252266
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When Do Managers Seek Private Equity Backing in Public-to-Private Transactions?
Fidrmuc, J.P.; Roosenboom, P.G.J.; Dijk, D.J.C. van - Erasmus Research Institute of Management (ERIM), ERIM … - 2007
interesting for private equity investors that are looking to partner with incumbent management. This offers managers the choice to … managers decide for a management buyout without any involvement of private equity in case they are less financially constrained …: when their firms are undervalued, have high cash levels, are smaller and less financially visible, and the managers own a …
Persistent link: https://www.econbiz.de/10005016282
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Economic consequences of private equity investments on the German stock market
Achleitner, Ann-Kristin; Andres, Christian; Betzer, André - Fakultät für Wirtschaftswissenschaften, Technische … - 2008
= -1 to t = 0). In addition, we find that the wealth effects of PE investor involvement in Germany are positively related …
Persistent link: https://www.econbiz.de/10009219893
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Do corporate governance motives drive hedge funds and private equity activities?
Achleitner, Ann-Kristin; Betzer, André; Gider, Jasmin - Fakultät für Wirtschaftswissenschaften, Technische … - 2008
activities in a typical Continental European market like Germany promises to offer interesting insights about how HF and PE …
Persistent link: https://www.econbiz.de/10009219915
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Private Equity investment performance : Do social ties between venture capitalists and CEOs matter
Bonnet, Christophe - HAL - 2001
Our area of interest is the relationship between Private Equity professionals and the CEOs of companies. Building on previous research on board-CEO relationship and on venture capital and management buyout governance, we aim at complementing the frequently used agency theory perspective by way...
Persistent link: https://www.econbiz.de/10010549128
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When Do Managers Seek Private Equity Backing in Public-to-Private Transactions?
van Dijk, Dick; Fidrmuc, Fidrmuc, J.P.; Roosenboom, … - Erasmus Research Institute of Management (ERIM), … - 2007
interesting for private equity investors that are looking to partner with incumbent management. This offers managers the choice to … managers decide for a management buyout without any involvement of private equity in case they are less financially constrained …: when their firms are undervalued, have high cash levels, are smaller and less financially visible, and the managers own a …
Persistent link: https://www.econbiz.de/10010837590
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Monitoring Managers: Does it Matter?
Cornelli, Francesca; Kominek, Zbigniew; Ljungqvist, … - Fondazione ENI Enrico Mattei (FEEM) - 2010
We test under what circumstances boards discipline managers and whether such interventions improve performance. We …
Persistent link: https://www.econbiz.de/10008540409