This paper investigates the wealth effects of private equity (PE) investor purchases of shares in German quoted companies. It is the first study to analyze these effects for the German market which is particularly interesting due to its distinct characteristics with regard to the ownership...

Using a hand collected data set of 138 buy-outs, this paper presents the first analysis of the impact effects of public to private transactions (PTPs) in the UK during a period (1998–2004) in which PTPs became a significant part of the market for corporate control. We find that for all PTPs...

Private equity is invested mostly in established firms, of which family businesses are the dominant form. Under the pecking order hypothesis, private equity is a finance of last resort. Tests of the pecking order and its assumptions have provided conflicting results. For family firms, the...