Ebook: Private Equity Investments: Drivers and Performance Implications of Investment Cycles
Author: Claudia Sommer (auth.)
- Tags: Finance/Investment/Banking
- Series: Schriften zum europäischen Management
- Year: 2013
- Publisher: Gabler Verlag
- Edition: 1
- Language: English
- pdf
Private Equity experienced dramatic flutuations in investment activity in line with the turbulences of financial markets in recent years. Claudia Sommer develops a theoretical framework of factors driving private equity investment activity and the resulting performance implications. Using a data set of more than 40,000 European transations between 1990 and 2009 she applies a variety of econometrial approaches and shows how neoclassical aspects, information asymmetries, agency conflicts, and market timing contribute to the dynamics in the private equity market. In a performance analysis of more than 1,300 European private equity funds, she reveals how fund performance is linked to investment activity.
Private equity experienced dramatic fluctuations in investment activity in line with the turbulences of financial markets in recent years. Claudia Sommer develops a theoretical framework of factors driving private equity investment activity and the resulting performance implications. Using a data set of more than 40,000 European transactions, she applies a variety of econometrical approaches and shows how neoclassical aspects, information asymmetries, agency conflicts, and market timing contribute to the dynamics in the private equity market. In a performance analysis of more than 1,300 European funds she reveals the resulting performance implications.
Private equity experienced dramatic fluctuations in investment activity in line with the turbulences of financial markets in recent years. Claudia Sommer develops a theoretical framework of factors driving private equity investment activity and the resulting performance implications. Using a data set of more than 40,000 European transactions, she applies a variety of econometrical approaches and shows how neoclassical aspects, information asymmetries, agency conflicts, and market timing contribute to the dynamics in the private equity market. In a performance analysis of more than 1,300 European funds she reveals the resulting performance implications.
Content:
Front Matter....Pages 1-1
Introduction....Pages 1-11
Background....Pages 13-26
Theoretical Framework....Pages 27-63
Data and Methodology....Pages 65-93
Empirical Part I: Drivers at Aggregate Level....Pages 95-167
Empirical Part II: Drivers at Industry Level....Pages 169-208
Empirical Part III: Performance Implications....Pages 209-239
Practical Implications....Pages 241-252
Summary and Conclusion....Pages 253-258
Back Matter....Pages 11-11
Private equity experienced dramatic fluctuations in investment activity in line with the turbulences of financial markets in recent years. Claudia Sommer develops a theoretical framework of factors driving private equity investment activity and the resulting performance implications. Using a data set of more than 40,000 European transactions, she applies a variety of econometrical approaches and shows how neoclassical aspects, information asymmetries, agency conflicts, and market timing contribute to the dynamics in the private equity market. In a performance analysis of more than 1,300 European funds she reveals the resulting performance implications.
Content:
Front Matter....Pages 1-1
Introduction....Pages 1-11
Background....Pages 13-26
Theoretical Framework....Pages 27-63
Data and Methodology....Pages 65-93
Empirical Part I: Drivers at Aggregate Level....Pages 95-167
Empirical Part II: Drivers at Industry Level....Pages 169-208
Empirical Part III: Performance Implications....Pages 209-239
Practical Implications....Pages 241-252
Summary and Conclusion....Pages 253-258
Back Matter....Pages 11-11
....