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Corporate Ownership and Performance. Going Public versus Going Private in Europe

Hahn, Franz R.; Egger, Peter - 2010

This paper conducts an in-depth analysis of the impact of acquisitions, initial public offerings and management buyouts on productivity and profitability of a large sample of Europe-based manufacturing companies covering the period from 1996 to 2005. At the center of our analysis is the...

Persistent link: https://www.econbiz.de/10011435268

Kapitalmarktinduzierte Veränderungen von Unternehmensstrategien und Marktstrukturen im TK-Markt

Elixmann, Dieter; Metzler, Anette; Schäfer, Ralf G. - 2004

Persistent link: https://www.econbiz.de/10012320663

Scale-up financing and IPOs: Evidence from three surveys

Botsari, Antonia; Kiefer, Kilian; Lang, Frank; Pal, Kristian - 2021

In light of recent EU policy initiatives such as the Capital Markets Union (CMU) action plan, this working paper provides unique insights from Venture Capital (VC) general partners/management companies, Private Equity Mid-Market (PE MM) managers and Business Angels (BA). Specifically, based on...

Persistent link: https://www.econbiz.de/10012424903

Der Börsengang und die interne Organisation des Unternehmens

Bias, Daniel; Lochner, Benjamin; Obernberger, Stefan; … - In: Wirtschaft im Wandel 30 (2024) 1, pp. 7-9

(initial public offering, IPO). Im Zuge des Börsengangs wandeln sich Unternehmen in eine hierarchischere Organisation um und …

Persistent link: https://www.econbiz.de/10014512019

Debt, hedging, and human capital

Smith, Stephen D.; Wall, Larry D. - 2005

This paper provides a theory of debt and hedging based on human capital. We distinguish human capital from physical capital in two ways: (1) human capital is inalienable and can exercise a one-sided option to leave the firm, and (2) human capital is not perfectly replaceable. We show that a firm...

Persistent link: https://www.econbiz.de/10010397619

Private equity's unintended dark side: On the economic consequences of excessive delistings

Ljungsqvist, Alexander; Persson, Lars; Tåg, Joacim - 2016

Over the past two decades, private equity has contributed to a shrinking of the U.S. stock market. We develop a political economy model of private equity activity to study the wider economic consequences of this trend. We show that private and social incentives to delist firms from the stock...

Persistent link: https://www.econbiz.de/10011794581

Ökonometrische Modellierung von Transaktionsintensitäten auf Finanzmärkten

Grammig, Joachim; Hujer, Reinhard; Kokot, Stefan; … - 1998

Conditional Duration (ACD) Modelle zur ökonometrischen Analyse der Transaktionsintensitäten während der Börseneinführung (IPO) der … Deutsche Telekom Aktie. In diesem Fallbeispiel wird die Leistungsfähigkeit des neu entwickelten Burr-ACD-Modells mit den …

Persistent link: https://www.econbiz.de/10010316257

Who knows what when? The Information content of pre-IPO market prices

Löffler, Gunter; Panther, Patrick F.; Theissen, Erik - 2002

To resolve the IPO underpricing puzzle it is essential to analyze who knows what when during the issuing process. In …

Persistent link: https://www.econbiz.de/10010316258

Determinants of Capital Market Reactions to Seasoned Equity Offers by German Corporations

Gebhardt, Günther; Heiden, Stefan; Daske, Holger - 2001

Our study provides evidence on the share price reactions to the announcement of equity issues in Germany, where capital …

Persistent link: https://www.econbiz.de/10010316306

Ist der Ablauf der Lock-up-Frist bei Neuemissionen ein kursrelevantes Ereignis

Nowak, Eric; Gropp, Alexandra - 2000

shares after the initial public offering (IPO). We examine 172 lock-up agreements of 142 IPOs floated on Germany’s New Market …. Since the date of the lock-up expiration is common knowledge at the IPO, we would not expect to find abnormal returns … IPO, and low free float. The results of our study raise important regulatory issues with respect to disclosure rules of …

Persistent link: https://www.econbiz.de/10010316317