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Dokumenttyp:
Zeitschriftenaufsatz 
Autor(en):
Braun, R.; Engel, N.; Hieber, P.; Zagst, R. 
Nicht-TUM Koautoren:
nein 
Kooperation:
Titel:
The Risk Appetite of Private Equity Sponsors 
Abstract:
Using a unique proprietary data set of 460 realized buyouts completed between 1990 and 2005, we examine the risk appetite of private equity (PE) sponsors in different states of the PE market and analyse key determinants of deal-level equity risk. We develop a new approach to mathematically model PE investment equity risk based on the Black-Cox default model. We find higher equity volatilities in boom periods. Further, deals conducted by more reputed PE sponsors have lower equity volatilities as...    »
 
Stichworte:
model for deal-level equity risk; higher volatility in boom periods; reputation of GP lowers risk; risk appetite negatively relates to ownership stakes in investment 
Intellectual Contribution:
Discipline-based Research 
Zeitschriftentitel:
Journal of Empirical Finance 
Journal gelistet in FT50 Ranking:
nein 
Jahr:
2011 
Band / Volume:
18 
Heft / Issue:
Seitenangaben Beitrag:
815-832 
Key publication:
Nein 
Peer reviewed:
Ja 
International:
Ja 
Book review:
Nein 
commissioned:
not commissioned 
Professional Journal:
Nein 
Interdisziplinarität:
Nein