Wealth effects of private equity investments on the German stock market
Document type:
Zeitschriftenaufsatz
Author(s):
Achleitner, A.K.; Andres, C.; Betzer, A.; Weir, C.
Non-TUM Co-author(s):
ja
Cooperation:
international
Abstract:
This paper investigates the wealth effects of private equity (PE) investor purchases of shares in German quoted companies. It is the first study to analyse these effects for the German market, which is particularly interesting due to its distinct characteristics with regard to the ownership structure of publicly listed companies and the protection of minority shareholders. We find that PE investors generate positive wealth effects for target shareholders of 5.90