Search results for "Club deal"

showing 2 items of 2 documents

Equity-worthiness and equity-willingness: key factors in private equity deals

2014

While access to private equity funds (PEFs) provides a unique opportunity for firms to set up sturdy growth paths, how PEFs select companies is an unknown process to entrepreneurs and business owners. This study aims to offer insights regarding the private equity market to entrepreneurs searching for external capital. We analyzed a novel dataset of 240 pre-deal negotiations between small- and medium-sized Italian companies and a closed-end fund. Results indicate that the successful closing of a deal depends on more than just the target firm's equity-worthiness (i.e., the company's ability to meet the expectations of a private equity investor). In fact, there is another dimension: the target…

FinanceMarketingEquity riskbusiness.industryPrivate equity; Pre-deal negotiation; Worthiness and willingnessPrivate equity secondary marketEntrepreneurs; Financing; Pre-deal negotiation; Private equity; Worthiness and willingness; Business and International Management; Marketing;Private equity firmSettore SECS-P/08 - Economia e Gestione delle ImpreseEntrepreneursPrivate investment in public equityClub dealPrivate equity fundPrivate equityPrivate equityEconomicsEntrepreneurWorthiness and willingneWorthiness and willingnessFinancingBusiness and International ManagementbusinessEquity capital marketsPre-deal negotiation
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The Institutional Determinants of Private Equity Involvement in Business Groups The Case of Africa

2015

This study examines the governance attributes of post-IPO (initial public offering) retained ownership of private equity in business group constituent firms in contrast to their unaffiliated counterparts, in 202 newly listed firms in 22 emerging African economies. We adopt an actor centered institutional-theoretic perspective in rationalizing institutional voids and the advantages of maintained governance by both business angels (BA) and venture capital (VC) private equity. Our findings reveal private equity retain higher post-IPO ownership in business group constituents compared to unaffiliated firms and that this is inversely moderated in the context of improving institutional quality. Ou…

Private equity fundFinancePrivate equitybusiness.industryCorporate governancePrivate equity secondary marketEconomicsAccountingPrivate equity firmVenture capitalbusinessEquity capital marketsClub dealSSRN Electronic Journal
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