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Document type:
Zeitschriftenaufsatz 
Author(s):
Braun, R.; Engel, N.; Hieber, P.; Zagst, R. 
Non-TUM Co-author(s):
ja 
Cooperation:
national 
Title:
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 during boom periods. Further, deals conducted by more reputed PE sponsors have lower equity volatilities...    »
 
Keywords:
Risk Appetite, Equity Volatility, Private Equity 
Intellectual Contribution:
Discipline-based Research 
Journal title:
Journal of Empirical Finance 
Year:
2011 
Journal volume:
18 
Journal issue:
Pages contribution:
815–832 
Reviewed:
ja 
Language:
en 
Semester:
SS 02 
Format:
Text 
Key publication:
Nein 
Peer reviewed:
Ja 
International:
Ja 
Book review:
Nein 
Commissioned:
not commissioned 
Professional Journal:
Nein 
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