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of stocks and bonds, the concept of risk diversification, and the working of financial markets. We also find that the …
Persistent link: https://www.econbiz.de/10010958673
that many households are unfamiliar with even the most basic economic concepts needed to make saving and investment …
Persistent link: https://www.econbiz.de/10010958719
market risk. From the viewpoint of unconstrained investors with complete investment freedom, risk can be optimally reduced by …In this article, we investigate risk return characteristics and diversification benefits when private equity is used as … and simultaneous investment simulation in stocks, as well as the construction of stock portfolios for benchmarking …
Persistent link: https://www.econbiz.de/10010958618
We study optimal investment in self-protection of insured individuals when they face interdependencies in the form of …
Persistent link: https://www.econbiz.de/10010986430
Diese Arbeit analysiert die wesentlichen Elemente der Vertragsstrukturen in der Venture Capital-Industrie. Aufbauend auf einem sehr umfangreichen und detaillierten Datensatz, der die Verträge zwischen Venture Capital-Investoren und deren Portfoliounternehmen abbildet, werden die Kontroll-,...
Persistent link: https://www.econbiz.de/10010986442
We analyze the degree of contract completeness with respect to staging of venture capital investments using a hand-collected German data set of contract data from 464 rounds into 290 entrepreneurial firms. We distinguish three forms of staging (pure milestone financing, pure round financing and...
Persistent link: https://www.econbiz.de/10010986443
We analyze the venture capitalist's decision on the timing of the IPO, the offer price and the fraction of shares he sells in the course of the IPO. A venture capitalist may decide to take a company public or to liquidate it after one or two financing periods. A longer venture capitalist's...
Persistent link: https://www.econbiz.de/10010986467
Theorists argue that exit rights can mitigate hold-up problems in venture capital. Using a hand-collected data-set of venture capital contracts from Germany we show that exit rights are included more frequently in venture capital contracts when a hold-up problem associated with the venture...
Persistent link: https://www.econbiz.de/10010958744
We investigate the decisions of listed firms to go private once again. We start by revealing that while a significant number of firms which go public is VC-backed, an overproportional share of these VC-backed firms go private later on (they stay on the exchange for an average of 8.5 years). We...
Persistent link: https://www.econbiz.de/10010958816
The German Retirement Saving Act instituted a new funded system of supplementary pensions coupled with a general reduction in the level of state pay-as-you-go old-age pensions. In order to qualify for tax relief, the providers of supplementary savings products must offer a guarantee of the...
Persistent link: https://www.econbiz.de/10010986377