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Our study shows that the ownership of private equity funds influences the investments' performances. Our analysis focuses on the universe of PE investments, made by Italian closed-end funds, from 1999 to 2005. We find that bank-owned funds are able to carry into effect a weaker monitoring of the...
Persistent link: https://www.econbiz.de/10013038140
We find that credit rating is the most important variable in determining tranche spread at issue on Collateralized Debt Obligations (CDOs) issues backed by project finance (PF) loans. Factors that are important for pricing in the case of corporate bonds, such as market liquidity and weighted...
Persistent link: https://www.econbiz.de/10013144773
We study the drivers of financial sophistication in small family firms. Sophistication is defined as the use of non-basic financial products such as options, swaps, debt restructuring, and mergers and acquisitions (Mamp;A) advisory services. Our analysis is based on a unique dataset with...
Persistent link: https://www.econbiz.de/10012714363
This book, now in its second edition, provides an in-depth overview of all segments of the structured finance business, with particular reference to market trends, deal characteristics and deal structuring. The goal is to assist readers in gaining a clear understanding of the common features of...
Persistent link: https://www.econbiz.de/10012397530
A number of dramatic changes are currently reshaping infrastructure, a sector that investors and asset managers have traditionally considered to be a safe harbor in the field of alternative investments. Understanding the future of infrastructure is indispensable to guaranteeing a sustainable...
Persistent link: https://www.econbiz.de/10012399426
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The infrastructure financing market has gone through a process of radical transformation starting from the mid-2000s. Different reasons – including a changed macroeconomic environment, more stringent regulations on financial intermediaries, and a modified appetite for long-term asset...
Persistent link: https://www.econbiz.de/10011007278
M&A transactions expose both the bidder and target shareholders to a number of major risks both prior to the close of the deal and during the post-close integration phase. The main pre-closing risk is the possibility that fl uctuations of bidder and target stock prices will affect the terms of...
Persistent link: https://www.econbiz.de/10005315241
"In this paper we test two hypotheses concerning the presence of innovation in venture capital investments and the growth of innovative venture backed firms. To examine these hypotheses we considered sample of 37 Italian venture backed firms that went public on the Italian Stock Exchange between...
Persistent link: https://www.econbiz.de/10005334923