In private equity, General Partners (GPs) may receive fee payments from companies whose board they control. This paper describes the related contracts and shows that these fee payments sum up to $20 billion evenly distributed over the last twenty years, representing over 6% of the equity...

This paper analyzes the influence Leveraged Buyouts (LBOs) have on the operating performance of the LBO target companies' direct competitors. A unique and hand-collected data set on LBOs in the United States in the period 1985-2009 allows us to analyze the effects different restructuring...

The objective of this report is to assess the current state of the UK environment for financing scale-up companies (‘scale-ups’), and to identify key recommendations for policy makers, industry leaders and the investment community. While the UK has experienced strong growth in start-up...

In private equity, General Partners (GPs) receive fee payments from companies whose boards they control. Fees amount to $20 billion evenly distributed over time, representing over 6% of equity invested by GPs. They do not vary with business cycles, company characteristics, or GP performance....

This paper analyzes capital market reactions to international bank M&A. We investigate combined stock return patterns of targets, bidders, and their peers upon takeover announcement, and closing or withdrawal. We distinguish five common M&A hypotheses and relate characteristic and mutually...

Kurzinfo: Wer die heutigen Lebensbedingungen in die Zukunft verlängert, steht vor einem Horrorszenario, wie es der ZDF-Dreiteiler Aufstand der Alten im Jahr 2007 ausmalte: Demnach überaltert die Gesellschaft mit Massen von schlecht versorgten Pflegebedürftigen, verarmten Rentnern und...