This cumulative dissertation aims to complement existing literature with insights on two topics gaining strong importance in the Private Equity Industry: 1) cross-border investments and 2) co-investments with portfolio firm management in times of uncertainty. Results in paper on cross-border investments suggest that the physical presence of a local office of PE firms can actually make a difference for foreign investments. With a local office, operating performance of PE firms is higher after the buyouts. Local offices are especially beneficial for performance the higher the perceived foreignness between PE firm and portfolio firm is. In addition, PE firms increase deal flow after a local office opening, do less syndicates and have higher deal volumes. Respective results imply it is worth in future research to differentiate between pure cross-border deals and deals operated through a local office. The forth paper sheds light on the positive relationship between management buyouts (MBOs) and economic policy uncertainty. Analyses indicate that access to information is a relevant channel for higher propensity of MBOs in uncertain times.:1 Introduction
1.1 Trends in private equity industry
1.2 Overview of essays
2 The Cross-Border Buyout Next Door
2.1 Introduction
2.2 Theoretical background
2.3 Data
2.4 Operating performance results
2.5 Insights from semi-structured interviews
2.6 Conclusion
3 Opening a Local Office - PE Firms' Engine for International Expansion?
3.1 Introduction
3.2 Theoretical background
3.3 Sample and data
3.4 Determinants of office openings
3.5 Impact of local offices
3.6 Conclusion
3.A Appendices
4 Entrepreneurial Activity in Times of Uncertainty: The Case of Management Buyouts
4.1 Introduction
4.2 Literature review and hypotheses
4.3 Material and methods
4.4 Results and discussion
4.5 Conclusions
4.A Appendices
References
| Identifer | oai:union.ndltd.org:DRESDEN/oai:qucosa:de:qucosa:73334 |
| Date | 15 January 2021 |
| Creators | Mettner, Sven |
| Contributors | Schwetzler, Bernhard, Althammer, Wilhelm, HHL Leipzig Graduate School of Management |
| Source Sets | Hochschulschriftenserver (HSSS) der SLUB Dresden |
| Language | English |
| Detected Language | English |
| Type | info:eu-repo/semantics/publishedVersion, doc-type:doctoralThesis, info:eu-repo/semantics/doctoralThesis, doc-type:Text |
| Rights | info:eu-repo/semantics/openAccess |
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