Search Results - subject:"risk capital"

Understanding the Economic Value of Legal Covenants in Investment Contracts : A Real-Options Approach to Venture Equity Contracts

Cossin, Didier; Leleux, Benoit; Saliasi, Entela - Institut für Schweizerisches Bankwesen <Zürich>; … - 2002

Valuing early-stage high-technology growth-oriented companies is a challenge to current valuation methodologies. Efforts are redirected towards the design of investment contracts which materially skew the distribution of payoffs in favor of the venture investors. In effect, limitations in...

Persistent link: https://www.econbiz.de/10005859127

The Choice of Outside Equity: An Exploratory Analysis of Privately Held Firms

Boehmer, Ekkehart; Ljungqvist, Alexander - 2001

We analyze the choice between public and private equity financing of a unique, hand-collected sample of privately held firms that have indicated their willingness to raise outside equity.(...)

Persistent link: https://www.econbiz.de/10005846662

Mean Variance Portfolio Allocation with a Value at Risk Constraint

Sentana, Enrique - C.E.P.R. Discussion Papers - 2001

In this Paper, I first provide a simple unifying approach to static Mean-Variance analysis and Value at Risk, which highlights their similarities and differences. Then I use it to explain how fund managers can take investment decisions that satisfy the VaR restrictions imposed on them by...

Persistent link: https://www.econbiz.de/10005792433

The Biotechnology Industry in Germany and Japan

Müller, Christian - Institut für Technologie- und Innovationsmanagement … - 2001

Biotechnology is considered as one of the key high-technology sectors in the future. It has been increasingly accepted that small, innovative businesses were the major stimulus for the development of this emerging industry. Many studies on new entrepreneurial entrants in biotechnology are mainly...

Persistent link: https://www.econbiz.de/10005867159

Zum Einsatz „fundamentaler“ Faktorenmodelle im Portfoliomanagement

Hamerle, Alfred; Rösch, Daniel - Universität <Hannover> / Institut für Banken und … - 1998

In jüngerer Zeit sind im professionellen Portfoliomanagement zunehmend Faktorenmodelle in den Vordergrund bei der Investment-Analyse gerückt und haben klassische Modelle wie das CAPM mehr und mehr verdrängt. Charakte-ristisch für diese Modelle ist, daß lediglich ein...

Persistent link: https://www.econbiz.de/10005867484

Concentration Risk under Pillar 2: When are Credit PortfoliosInfinitely Fine Grained?

Gürtler, Marc; Heithecker, Dirk; Hibbeln, Martin - Institut für Wirtschaftswissenschaften <Braunschweig> …

The ongoing debate concerning credit concentration risk is mainly driven by the requirementson credit risk management due to Pillar 2 of Basel II since risks (e.g. concentration risk) that arenot fully captured by Pillar 1 should be adequately considered in the banks’ risk management....

Persistent link: https://www.econbiz.de/10005869358

Stochastic modelling of catastrophe risks in internal models

Diers, Dorothea

’s entire risk capital is committed to natural catastrophes.The following study aims to present two actual approaches in … very important issue, as a substantial share of the company’s entire risk capital is committed to natural ca- tastrophes … value and risk-based management. Finally, the study tests the impact of strategies on risk capital requirement. Keywords …

Persistent link: https://www.econbiz.de/10005865927

Agency Risk and Firm Valuation : An Empirical Analysis of Venture Capitalists’ Private Expectations

Hartmann-Wendels, Thomas; Keienburg, Georg; Sievers, Soenke - Corporate Finance Seminar <Köln>

This study empirically evaluates the price impact of agency risk in firm valuation. Using aunique data set comprised of internal valuation documents, we find that venture capitalistsuse risk discounts to cope with expected agency risks...

Persistent link: https://www.econbiz.de/10005866808