Journal of Financial Transformation, Vol. 28, pp. 87-93, 2010 with Christoph Kaserer, Valentin Liebhart, Alfred Mettler Abstract: Structure and stability of private equity market risk are still nearly unknown, since market prices are mostly unobservable for this asset class. This paper aims to fill this gap by analyzing market risks of listed private equity vehicles. …
Organizational Forms and Risk in Listed Private Equity
The Journal of Private Equity, Vol. 13, 89-99, Winter 2009 with Florian Herschke Abstract: This paper investigates the stock performance of listed private equity vehicles which are grouped into subsamples according to their organizational structure. We identify 274 liquid listed private equity entities in the period from 1986 to 2008. Listed private equity shows an …
Uncertain Private Benefits and the Decision to Go Public
with Olaf Ehrhardt Abstract: This paper focuses on the decision to go public when both seller and potential buyers have private benefits of control. The basic model by Zingales (1995) is extended to account for uncertainty of private benefits. This leads to new implications for the sales process, ownership structure, measurement of private benefits and …