Private Equity Firms’ Behaviours in Western Europe: Does Country Matter?
AbstractUsing a unique dataset of private equity firms (PEFs), this paper analyses the investment behaviour of private equity fund managers. This paper uses a multi-country sample of PEFs to compare the approaches to investee valuation, contractual agreements and financial tools in Europe. Univariate analyses describe practices of PEFs and multivariate analyses identify groups of homogeneous countries i.e. countries where PEFs’ behaviours are similar. The comparison of these groups with traditional classifications based on legal regimes does not perform very well. This result can illustrate either the limits of the classification of countries based on legal regimes or the increasing integration of the most developed European countries that makes practices of financial actors converge across European countries.
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Bibliographic InfoArticle provided by SKEMA Business School in its journal Frontiers in Finance and Economics.
Volume (Year): 6 (2009)
Issue (Month): 2 (October)
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Web page: http://www.ffe.esc-lille.com
Private Equity; Legal Regimes; Investment Appraisal; Contractual Agreements; Financial Tools;
Find related papers by JEL classification:
- G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
- G30 - Financial Economics - - Corporate Finance and Governance - - - General
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
- G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
- M13 - Business Administration and Business Economics; Marketing; Accounting - - Business Administration - - - New Firms; Startups
- M40 - Business Administration and Business Economics; Marketing; Accounting - - Accounting - - - General
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