We examine the effects of family firms on real earnings management (REM) and accrual-based
earnings management (ABEM). Using socioemotional wealth as a theoretical framework …

This paper analyzes the question if and how founding families influence the capital structure
decision of their firms. By using a unique, partially hand-collected panel dataset of 660 …

We examine the dynamics and the drivers of market liquidity during the financial crisis, using
a unique volume-weighted spread measure. According to the literature we find that market …

This paper analyzes how founders and their families influence R&D intensity. Information on
R&D comes from a large-scale, bi-annual survey among listed German firms. We find that …

This paper analyzes the determinants of returns generated by mature European private
equity funds. It starts from the presumption that this asset class is characterized by illiquidity, …

In this paper, we analyze the effect of the conversion price of CoCo bonds on equity holders’
incentives. First, we use an option-pricing context to show that CoCo bonds can magnify …

In this paper we address the question whether insider ownership affects corporate
performance. Evidence from studies dealing with Anglo-Saxon countries is rather inconclusive, …

Based on 1182 dyads of venture capitalists and German portfolio companies involved in a
financing round between 2002 and 2007, the study here examines the importance of spatial …

It has been discussed for a long time how managers of large corporations can be induced to
act in the best interest of owners. According to conventional wisdom the related agency …

We analyze the risk, return and cash flow characteristics of infrastructure investments by
using a unique dataset of deals done by private equity-like investment funds. We show that …