Private Equity Investments
Drivers and Performance Implications of Investment Cycles| By: | Claudia Sommer |
| Publisher: | Springer Nature |
| Print ISBN: | 9783658002336 |
| eText ISBN: | 9783658002343 |
| Edition: | 0 |
| Copyright: | 2013 |
| Format: | Page Fidelity |
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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.