Using two sets of hand-collected survey data, we studied the value-adding activities of venture capitalists (VCs) operating in the weak legal environment of China. VCs exert value-enhancing efforts in addition to monitoring through trust considerations. We identified the effects of three types...

Given the increasing importance of private equity in the world economy, we examine the strategic decision to finance a business in an international context by evaluating whether private equity is a substitute for or a complement to other sources of external finance. We find strong evidence that...

Private equity (PE) firms increasingly drift toward investing in software companies. In this paper, we empirically examine this trend and compare software drifts to general style drifts. We use an unbalanced panel of more than 7,000 PE firms that made investments between 1985 and 2020. Our...

We address the attractiveness of 66 countries worldwide for institutional real estate investments through the construction of a composite index. For the index's composition, we refer to the results of prior research on the parameters determining real estate investment activity on an aggregated...

All conceivable solutions to the internal rate of return equation are shown to have meaning as well as use. Internal rates of return are the units in which value is measured and the quantities of such units. This result implies a single internal rate of return cannot be an investment criterion....

We address the attractiveness of 66 countries around the world for institutional real estate investments by constructing a composite index. For the index composition, we refer to the results of prior research on the parameters determining real estate investment activity on an aggregated country...

I address the construction of hurdle rates for 66 countries that adequately compensate investors for the specific real estate market risks involved when investing, operating and exiting a foreign market. To estimate the market-based framework, I run random-effect panel regressions over a...

This paper uses a composite index to examine the attractiveness of 66 countries worldwide for institutional real estate investments. The index construction is based on the parameters found in prior research that determine real estate investment activity on an aggregated country level. The index...

We address the attractiveness of 66 countries worldwide for institutional real estate investments through the construction of a composite index. For the index's composition, we refer to the results of prior research on the parameters determining real estate investment activity on an aggregated...

Sovereign bond issuance by emerging market countries is growing in both volume and frequency. The global credit rating agencies have eagerly assigned ratings to the new issuers. Traditional approaches to measuring country risk, however, may fall short when applied to developing economies. What...