2016

2016/03/30Women on Corporate Boards: Good or Bad?
[SSRN]
Thomas Schmid (University of Hong Kong), Daniel Urban (CEFS)
2016/06/23Employee Representation and Financial Leverage
[SSRN]
Chen Lin, Thomas Schmid and Yuhai Xuan

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2015

2015/12/21How Persistent is Private Equity Performance? Evidence from Deal-Level Data
[SSRN]
Prof. Dr. Reiner Braun, Tim Jenkinson (University of Oxford), Ingo Stoff
2015/06/23Alternative Indexierung Am Deutschen Aktienmarkt (Alternative Indexation on the German Stock Market)
[SSRN]
Joachim Lauterbach, Maximilian Overkott

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2014

2014/08/29International Evidence on Value Creation in Private Equity Transactions
Paper can be found here
Benjamin Puche, Reiner Braun, Ann-Kristin Achleitner

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2012

2012 No. 1Do Investors Value Cash Flow Stability of Listed Infrastructure Funds?
[SSRN]
Florian Bitsch

2011

2011 No. 4The Capital Gains Tax: A Curse but also a Blessing for Venture Capital Investment
[SSRN]
Ann-Kristin Achleitner, Carolin Bock, Martin Watzinger
2011 No. 3Disentangling Gut Feeling - Assessing the Integrity of Social Entrepreneurs
[SSRN]
Ann-Kristin Achleitner, Eva Lutz, Judith Mayer, Wolfgang Spiess-Knafl
2011 No. 2Modeling Electricity Spot Prices - Combining Mean-Reversion, Spikes and Stochastic Volatility
[SSRN]
Klaus Mayer, Thomas Schmid, Florian Weber
2011 No. 1Risikofaktoren und Multifaktormodelle für den deutschen Aktienmarkt
[SSRN]
Matthias Hanauer, Christoph Kaserer, Marc Steffen Rapp

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2010

2010 No. 9                 Considering the Shareholder Perspective: Value-based Management Systems and Stock Market Performance
[SSRN]
Marc Steffen Rapp, Daniel A. Schellong, Maximilian Schmidt, Michael Wolff
2010 No. 8Information Asymmetries and the Value-Relevance of Cash Flow and Accounting Figures - Empirical Analysis and Implications for Managerial Accounting
[SSRN]
Marc Steffen Rapp
2010 No. 7 Determinanten der Vorstandsvergütung - Eine empirische Untersuchung der deutschen Prime-Standard-Unternehmen
[SSRN]
Marc Steffen Rapp, Michael Wolff (University of Karlsruhe (TH))
2010 No. 6Determinants of Director Compensation in Two-Tier Systems: Evidence from German Panel Data
[SSRN]
Jörn Michael Andreas (Karlsruhe institute of technology), Marc Steffen Rapp, Michael Wolff (Karlsruhe institute of technology)
2010 No. 5DAXplus Family - Primer on a Family Firm Stock Index in Germany (DAXplus Family - Ein Aktienindex zur Darstellung der Performance von Familienunternehmen)
[SSRN]
Ann-Kristin Achleitner (CEFS/TU München), Christoph Kaserer (CEFS/TU München), Tobias Kauf (CEFS/TU München), Sarah Volk (CEFS/TU München)
2010 No. 4Loss of Control vs. Risk Reduction - Decision Factors for Hiring Non-Family CFOs in Family Firms
[SSRN]
Ann-Kristin Achleitner (CEFS/TU München), Eva Lutz (CEFS/TU München), Stephanie Schraml (CEFS/TU München)
2010 No. 3Simulation-Based Valuation of Project Finance - Does Model Complexity Really Matter?
[SSRN]
Florian Weber (CEFS/TU München), Thomas Schmid (CEFS/TU München), Matthäus Pietz (CEFS/TU München), Christoph Kaserer (CEFS/TU München)
2010 No. 2Importance of Spatial Proximity between Venture Capital Investors and Investees in Germany
[SSRN]
Ann-Kristin Achleitner (CEFS/TU München), Marko Bender (CEFS/TU München), Christoph Kaserer (CEFS/TU München), Eva Lutz (CEFS/TU München)
2010 No. 1Corporate Governance and Payout Policy: Do Founding Families Have a Special 'Taste for Dividends'?
[SSRN]
Thomas Schmid (CEFS/TU München), Markus Ampenberger (CEFS/TU München), Christoph Kaserer (CEFS/TU München), Ann-Kristin Achleitner (CEFS/TU München)

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2009

2009 No. 15               Structure and Determinants of Financial Covenants in Leveraged Buyouts - Evidence from an Economy with Strong Creditor Rights
[SSRN]
Ann-Kristin Achleitner (CEFS/TU München), Reiner Braun (CEFS/TU München), Florian Tappeiner (CEFS/TU München)
2009 No. 14Influence of Internal Factors on the Use of Equity- and Mezzanine-Based Financing in Family Firms
[SSRN]
Ann-Kristin Achleitner (CEFS/TU München), Eva Lutz (CEFS/TU München), Stephanie Schraml (CEFS/TU München)
2009 No. 13The German Entrepreneurial Index (GEX®) - A Primer on an Ownership-Based Style Index in Germany
[SSRN]
Ann-Kristin Achleitner (CEFS/TU München), Christoph Kaserer (CEFS/TU München), Markus Ampenberger (CEFS/TU München), Florian Bitsch (CEFS/TU München)
2009 No. 12Net Asset Value Discounts in Listed Private Equity Funds
[SSRN]
Henry Lahr (CEFS/TU München), Christoph Kaserer (CEFS/TU München)
2009 No. 11Risk Premia in Electricity Wholesale Spot Markets - Empirical Evidence from Germany
[SSRN]
Matthäus Pietz (CEFS/TU München)
2009 No. 10Angels or Demons? Evidence on the Impact of Private Equity Firms on Employment
[SSRN]
Eva Nathusius (CEFS/TU München), Ann-Kristin Achleitner (CEFS/TU München)
2009 No. 9International Financial Reporting Standards and Earnings Quality: The Myth of Voluntary vs. Mandatory Adoption
[SSRN]
Nina Günther (CEFS/TU München), Bernhard Gegenfurtner (CEFS/TU München), Christoph Kaserer (CEFS/TU München), Ann-Kristin Achleitner (CEFS/TU München)
2009 No. 8Goal Structures in Family Firms: Empirical Evidence on the Relationship between Firm and Family Goals
[SSRN]
Ann-Kristin Achleitner (CEFS/TU München), Reiner Braun (CEFS/TU München), Stephanie Schraml (CEFS/TU München), Juliane Welter
2009 No. 7Risk Premia in the German Electricity Futures Market
[SSRN]
Matthäus Pietz (CEFS/TU München)
2009 No. 6Patterns in Spatial Proximity between Venture Capital Investors and Investees in Germany - An Empirical Analysis
[SSRN]
Marko Bender (CEFS/TU München), Eva Nathusius (CEFS/TU München)
2009 No. 5Capital structure decisions in family firms - empirical evidence from a bank-based economy
[SSRN]
Markus Ampenberger (CEFS/TU München), Thomas Schmid (CEFS/TU München), Ann-Kristin Achleitner (CEFS/TU München), Christoph Kaserer (CEFS/TU München)
2009 No. 4Market Liquidity Risk - An Overview
[SSRN]
Sebastian Stange (CEFS/TU München), Christoph Kaserer (CEFS/TU München)
2009 No. 3Stock-based Incentives in Executive Compensation Packages - Evidence from German Prime Standard Firms
[SSRN]
Marc Steffen Rapp (CEFS/TU München), Philipp Schaller (CEFS/TU München), Michael Wolff (University of Karlsruhe (TH))
2009 No. 2The Impact of Managerial Ownership, Monitoring and Accounting Standard Choice on Accrual Mispricing
[SSRN]
Bernhard Gegenfurtner (CEFS/TU München), Markus Ampenberger (CEFS/TU München), Christoph Kaserer (CEFS/TU München)
2009 No. 1Measuring Market Liquidity Risk - Which Model Works Best?
[SSRN]
Cornelia Ernst (CEFS/TU München), Sebastian Stange (CEFS/TU München), Christoph Kaserer (CEFS/TU München)

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2008

2008 No. 15                    Private Equity Investors as Corporate Governance Mechanism in Continental Europe
[SSRN]
Ann-Kristin Achleitner (CEFS/TU München), André Betzer (University of Bonn), Bastian Hinterramskogler (CEFS/TU München)
Best Paper Prize, 7th International Conference on Corporate Governance, Birmingham Business School
2008 No. 14Accounting for Non-Normality in Liquidity Risk
[SSRN]
Cornelia Ernst (CEFS/TU München), Sebastian Stange (CEFS/TU München), Christoph Kaserer (CEFS/TU München)
2008 No. 13Family Firms, Agency Costs and Risk Aversion - Empirical Evidence from Diversification and Hedging Decisions
[SSRN]
Thomas Schmid (CEFS/TU München), Markus Ampenberger (CEFS/TU München), Christoph Kaserer (CEFS/TU München), Ann-Kristin Achleitner (CEFS/TU München)
2008 No. 12Private Equity Minority Investments in Large Family Firms: What Influences the Attitude of Family Firm Owners?
[SSRN]
Ann-Kristin Achleitner (CEFS/TU München), Stephanie Schraml (CEFS/TU München), Florian Tappeiner (CEFS/TU München)
2008 No. 11Do Corporate Governance Motives Drive Hedge Funds and Private Equity Activities?
[SSRN]
Ann-Kristin Achleitner (CEFS/TU München), André Betzer (University of Bonn), Jasmin Gider (University of Bonn)
2008 No. 10Why and How to Integrate Liquidity Risk into a Var-Framework
[SSRN]
Sebastian Stange (CEFS/TU München), Christoph Kaserer (CEFS/TU München)
2008 No. 9The Impact of Order Size on Stock Liquidity - A Representative Study
[SSRN]
Sebastian Stange (CEFS/TU München), Christoph Kaserer (CEFS/TU München)
2008 No. 8Equilibrium Security Prices with Capital Income Taxes and an Exogenous Interest Rate
[pdf]
Marc Steffen Rapp (CEFS/TU München), Bernhard Schwetzler (Center for Corporate Transactions (CCT), Department of Finance, Leipzig Graduate School of Management (HHL))
2008 No. 7Has the Sarbanes-Oxley Act reduced the Adverse Selection Cost of Going Public?
[pdf]
Christoph Kaserer (CEFS/TU München), Alfred Mettler (Georgia State University), Stefan Obernberger (CEFS/TU München)
2008 No. 6Private Equity Entities and Conglomerates: What are the Differences?
[SSRN]
Ann-Kristin Achleitner (CEFS/TU München), Kay Müller (CEFS/TU München)
2008 No. 5Economic Consequences of Private Equity Investments on the German Stock Market
[SSRN]
Ann-Kristin Achleitner (CEFS/TU München), Christian Andres (University of Bonn), André Betzer (University of Bonn), Charlie Weir (Robert Gordon University - Aberdeen Business School)
2008 No. 4Market Efficiency Reloaded: Why Insider Trades do not Reveal Exploitable Information
[pdf]
Sebastian Dickgiesser (CEFS/TU München), Christoph Kaserer (CEFS/TU München)
2008 No. 3Community Development Venture Capital: Concept and Status Quo in Germany
[SSRN]
Ann-Kristin Achleitner (CEFS/TU München), Rainer Braun (CEFS/TU München), Marko Bender (CEFS/TU München), Annabell Geidner (CEFS/TU München)
2008 No. 2Uncertain Private Benefits and the Decision to Go Public
[pdf]
Olaf Ehrhardt (FH Stralsund), Henry Lahr (CEFS/TU München)
2008 No. 1Linking Credit Risk Premia to the Equity Premium
[pdf]
Tobias Berg (CEFS/TU München), Christoph Kaserer (CEFS/TU München)

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2007

2007 No. 2         Quantitative Valuation of Platform Technology Based Intangibles Companies
[SSRN]
Ann-Kristin Achleitner (CEFS/TU München), Eva Nathusius (CEFS/TU München), Stephanie Schraml (CEFS/TU München)
2007 No. 1Entrepreneurship Education in German Speaking Europe - A Mapping
[pdf]
Ann-Kristin Achleitner (CEFS/TU München), Christoph Kaserer (CEFS/TU München), Svenja Jarchow (CEFS/TU München), Karen Wilson (EFER)

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2006

2006 No. 2          Stochastic Modeling of Private Equity - An Equilibrium Based Approach to Fund Valuation
[pdf]
Axel Buchner (CEFS/TU München), Christoph Kaserer (CEFS/TU München), Niklas Wagner (CEFS/TU München)
2006 No. 1Lifting the Veil of Accounting Information under Different Accounting Standards - Lessons Learned from the German Experiment
[pdf]
Carmen Adamek (CEFS/TU München), Christoph Kaserer (CEFS/TU München)

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2005

2005 No. 5     Employment Contribution of Private Equity and Venture Capital in Europe
[SSRN]
Ann-Kristin Achleitner (CEFS/TU München), Oliver Klöckner (CEFS/TU München)
2005 No. 4Beteiligungskapital und selektive Informationssuche in mittelständischen Unternehmen
[pdf]
Ann-Kristin Achleitner (CEFS/TU München), Angela Poech (CEFS/TU München), Thorsten Groth (CEFS/TU München)
2005 No. 3Private Equity Funds and Hedge Funds - A Primer
[SSRN]
Ann-Kristin Achleitner (CEFS/TU München), Christoph Kaserer (CEFS/TU München)
2005 No. 2Real Estate Private Equity - Funktion und Bedeutung einer Anlageklasse
[pdf]
Ann-Kristin Achleitner (CEFS/TU München), Niklas Wagner (CEFS/TU München)
2005 No. 1Insider Ownership and Corporate Performance: Evidence from Germany
[pdf]
Christoph Kaserer (CEFS/TU München), Benjamin Moldenhauer (CEFS/TU München)

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2004

2004 No. 7         Charakteristika und Erfolgsmerkmale junger, deutscher Unternehmen – Schwerpunkt Finanzierung
[pdf]
Ann-Kristin Achleitner, Christoph Kaserer, Niklas Wagner, Angela Poech, Martin Brixner, Axel Buchner, Benjamin Moldenhauer
2004 No. 6Determinanten der Vorstandsvergütung in Deutschland: Paradigmenwechsel oder Versagen in der Unternehmenskontrolle
[pdf]
Christoph Kaserer, Niklas Wagner
2004 No. 5What you Get is What You Need? The Role of Venture Capitalists in Managing Growth of New Ventures
[pdf]
Ann-Kristin Achleitner, Christian Fingerle
2004 No. 4The Index Effect - Comparison of Different Measurement Approaches
[pdf]
Christoph Kaserer, Jakob Munzinger (Freie Universität Bozen), Niklas Wagner
2004 No. 3Surprise Volume and Heteroskedasticity in Equity Market Returns
[pdf]
Niklas Wagner (CEFS/TU München), Terry A. Marsh (Haas School of Business/ U.C. Berkeley)
2004 No. 2What Drives Cash Flow Based European Private Equity Returns? – Fund Inflows, Skilled GPs and/or Risk?
[pdf]
Christoph Kaserer, Christian Diller
2004 No. 1European Private Equity Funds – A Cash Flow Based Performance Analysis
[pdf]
Christoph Kaserer, Christian Diller

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2003

2003 No. 1   Managing Investment Risks of Institutional Private Equity Investors – The Challenge of Illiquidity
[pdf]
Christoph Kaserer, Niklas Wagner, Ann-Kristin Achleitner

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