Adverse selection and the performance of private equity co-investments

Forthcoming in the Journal of Financial Economics, 2019
Reiner Braun (CEFS), Tim Jenkinson, Christoph Schemmerl (CEFS)



Foundation Ownership and Shareholder Value: An Event Study

Review of Managerial Science, 2018
Ann-Kristin Achleitner (CEFS), Dmitry Bazhutov (BUW), André Betzer (BUW), Jörn H. Block (University of Trier), Florian Hosseini (University of Trier)

Patent-based Investment Funds: From Invention to Innovation

Journal of Technology Transfer, online available since Sept 15th, 2018
Svenja Jarchow (CEFS), Andrea Röhm (CEFS)

Deal Pricing and Returns in Private Equity

In: The Journal of Alternative Investments. Vol. 21 (2018), Issue 3, p. 70-85.
Reiner Braun (CEFS), Benjamin Puche (CEFS)

Systemic Risk in Financial Markets: How Systematically Important Are Insurers? Journal of Risk and Insurance

Forthcoming in: Journal of Risk and Insurance
Christoph Kaserer (CEFS), Christian Klein (CEFS)

Private Equity Group Reputation and Financing Structures in German Leveraged Buy-outs

In: Journal of Business Economics, Vol. 88, Issue 3-4, p. 363-392
Ann-Kristin Achleitner (CEFS), Reiner Braun (CEFS), Eva Lutz (University of Düsseldorf), Florian Tappeiner (CEFS)

Five Concerns with the Five-Factor Model. The Journal of Portfolio Management

In: The Journal of Portfolio Management
David Blitz (Robeco), Matthias X. Hanauer (Robeco, CEFS), Milan Vidojevic (Robeco) and Pim van Vliet (Robeco)



Corporate Raiders at the Gates of Germany? Value Drivers in Buyout Transactions

In: Journal of Private Equity
Reiner Braun (CEFS), Fabian Söffge (CEFS)

How persistent is private equity performance? Evidence from deal-level data

In: Journal of Financial Economics
Reiner Braun (CEFS), Tim Jenkinson (University of Oxford), Ingo Stoff (CEFS)

International asset allocation using the market implied cost of capital

In: Financial Markets and Portfolio Management
Patrick Bielstein (CEFS)

Did UEFA's Financial fair play harm competition in European football leagues?

In: Review of Managerial Science
Stefan Birkenhäuser, Christoph Kaserer (CEFS), Daniel Urban (CEFS)

25 Jahre Fama-French-Modell: Erklärungsgehalt, Anomalien und praktische Implikationen

In: Perspektiven der Wirtschaftspolitik
Matthias Hanauer (Robeco, CEFS), Christoph Kaserer (CEFS)

Finance conference quality and publication success: A conference ranking

In: Journal of Emipirical Finance
Sebastian J. Reinartz (CEFS), Daniel Urban (CEFS)



The cost of Private Equity Investing and the Impact of Dry Powder

In: Journal of private Equity
Reiner Braun (CEFS), Ingo Stoff (CEFS)

The impact of the financial crisis on financing technology ventures

In: International Journal of Entrepreneurship and Small Business
Ann-Kristin Achleitner (CEFS), Reiner Braun (CEFS), Georg Metzger (KfW Bankengruppe), Maximilian Schmidt (CEFS)

Combination of forecasts for the price of crude oil on the spot market

In: International Journal of Production Research
Vitor G. Azevedo (CEFS), Lucila M.S. Campos (Universidade Federal de Santa Catarina)

Corporate sustainability and asset pricing models: empirical evidence for the Brazilian stock market

In: Production
Vitor G. Azevedo (CEFS), André A. P. Santos (Universidade Federal de Santa Catarina), Lucila M. S. Campos (Universidade Federal de Santa Catarina)

Synthetic hedge funds

In: Review of Financial Economics
Mario Fischer (CEFS), Matthias X. Hanauer (CEFS), Robert Heigermoser (CEFS)

Determinants of tracking error in German ETFs – the role of market liquidity

In: Managerial Finance
Friedrich Osterhoff, Christoph Kaserer

Production Flexibility, Product Markets, and Capital Structure Decisions

In: Review of Financial Studies
Sebastian J. Reinartz (CEFS), Thomas Schmid (University of Hong Kong)



Family firm heterogeneity and corporate policy – Evidence from diversification decisions

In: Corporate Governance: An International Review
Ann-Kristin Achleitner (CEFS), Markus Ampenberger (CEFS), Christoph Kaserer (CEFS), Thomas Schmid (CEFS)

International Evidence on Value Creation in Private Equity Transactions

In: Journal of Applied Corporate Finance
Ann-Kristin Achleitner (CEFS), Benjamin Puche (CEFS), Reiner Braun (CEFS) 

Does contingent capital induce excessive risk-taking?

In: Journal of Financial Intermediation
Tobias Berg (CEFS, Christoph Kaserer (CEFS)

Challenging the payment effect in bank-financed takeovers

In: Journal of Management Control
Mario Fischer (CEFS)

Effects of return expectation on mutual funds’ risk exposures

In: Journal of Asset Management
Mario Fischer (CEFS), Maximilian Overkott (CEFS)

Size, Value, and Momentum in Emerging Market Stock Returns: Integrated or Segmented Pricing?

In: Asia-Pacific Journal of Financial Studies
Matthias X. Hanauer (CEFS), Martin Linhart

Alternative Indexierung am deutschen Aktienmarkt

In: Corporate Finance
Jochim Lauterbach (CEFS), Maximilian Overkott (CEFS)

Modeling Electricity Spot Prices: Combining Mean Reversion, Spikes, and Stochastic Volatility

In: European Journal of Finance. Special Issue on 2010 and 2011 Forecasting Financial Markets Conference
Klaus Mayer (CEM), Thomas Schmid (CEFS), Florian Weber (CEFS)

Private Equity Minority Investments

In: The Journal of Private Equity. Vol. 18 (2015), Issue 4, p. 46-55.
B. Puche (CEFS), C. Lotz (TUM)



Value creation drivers in a secondary buyout – the acquisition of Brenntag by BC Partners 

In: Qualitative Research in Financial Markets, Vol. 6 (2014), Issue 3, p. 278-301
Ann-Kristin Achleitner (CEFS), Christian Figge (CEFS), Eva Lutz (CEFS)

Private Equity Lemons? Evidence on Value Creation in Secondary Buyouts

In: European Financial Management, Vol. 20 (2014), Issue 2, p. 406-433
Ann-Kristin Achleitner (CEFS), Christian Figge (CEFS)

Industry relatedness in trade sales and venture capital investment returns

In: Small Business Economics, Vol. 43 (2014), Issue 3, p. 621-637
Ann-Kristin Achleitner (CEFS), Reiner Braun (CEFS), Eva Lutz (CEFS) and Uwe Reiner (CEFS)

Real Earnings Management and Accrual-based Earnings Management in Family Firms

In: European Accounting Review, Special Issue: Accounting and Reporting in Family Firms, Vol. 23 (2014), Issue 3, p. 431- 461
Ann-Kristin Achleitner (CEFS), Nina Günther (CEFS), Christoph Kaserer (CEFS) and Gianfranco Siciliano (Bocconi University)

Family firms and R&D behavior – New evidence from a large-scale survey

In: Research Policy, Vol. 43 (2014), Issue 1, p. 233-244
Ann-Kristin Achleitner (CEFS), Thomas Schmid (CEFS), Markus Ampenberger (CEFS) and Christoph Kaserer (CEFS)

The financing structure of social enterprises: conflicts and implications

In: International Journal of Entrepreneurial Venturing, Special Issue: The Future of Social Entrepreneurship, Vol. 6 (2014), Issue 1, p. 85-99
A.-K. Achleitner (CEFS), W. Spiess-Knafl (CEFS) and S. Volk (CEFS)

The evolution of private equity fund terms beyond 2 and 20

In:  Journal of Applied Corporate Finance, 26 (1), 65-75
Ingo Stoff (CEFS), Reiner Braun (CEFS)

Is Japan Different? Evidence on Momentum and Market Dynamics

In: International Review of Finance 14 (1), 2014, 141-160
Hanauer, Matthias (CEFS)

Why do firms (not) hedge? - Novel evidence on cultural influence

In: Journal of Corporate Finance 25, 2014, 92-106
Lievenbrück, M.; Schmid, T.

The value of financial flexibility and corporate financial policy

In: Journal of Corporate Finance 29, 2014, 288-302
Rapp, Marc Steffen; Schmid, Thomas; Urban, Daniel