Inmitten der internationalen Finanzkrise hat die Bundesregierung im Herbst 2007 das Risikobegrenzungsgesetz verabschiedet. Nun wird der Bundestag über das Gesetz entscheiden. Die einheimischen Private-Equity-/Buy-Out-Anbieter, die bislang nicht unter die Bankenaufsicht fallen, gehören zu den...

Private equity owned firms have more leverage, more intense compensation contracts, and higher productivity than comparable firms. We develop a theory of buyouts in oligopolistic markets that explains these facts. Private equity firms are more aggressive in inducing restructuring compared to...

In the midst of the international financial crisis, the German federal government passed the Risk Limitation Act in autumn 2007. In spring 2008 the Bundestag has finally decided on the law. The domestic private equity/buyout providers, which have not previously been subject to banking...

Inmitten der internationalen Finanzkrise hat die Bundesregierung im Herbst 2007 das Risikobegrenzungsgesetz verabschiedet. Nun wird der Bundestag über das Gesetz entscheiden. Die einheimischen Private-Equity-/Buy-Out-Anbieter, die bislang nicht unter die Bankenaufsicht fallen, gehören zu den...

In the midst of the international financial crisis, the German federal government passed the Risk Limitation Act in autumn 2007. In spring 2008 the Bundestag has finally decided on the law. The domestic private equity/buyout providers, which have not previously been subject to banking...

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...

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...

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...

Private equity owned firms have more leverage, more intense compensation contracts, and higher productivity than comparable firms. We develop a theory of buyouts in oligopolistic markets that explains these facts. Private equity firms are more aggressive in inducing restructuring compared to...

This paper presents a model of the financial structure of private equity firms. In the model, the general partner of the firm encounters a sequence of deals over time where the exact quality of each deal cannot be credibly communicated to investors. We show that the optimal financing arrangement...