Critical Analysis of Private Equity-Investments within Small and Mid-Sized Enterprises (SMEs) PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Critical Analysis of Private Equity-Investments within Small and Mid-Sized Enterprises (SMEs) PDF full book. Access full book title Critical Analysis of Private Equity-Investments within Small and Mid-Sized Enterprises (SMEs) by . Download full books in PDF and EPUB format.
Author: Publisher: GRIN Verlag ISBN: 3346123928 Category : Business & Economics Languages : en Pages : 26
Book Description
Seminar paper from the year 2018 in the subject Business economics - Investment and Finance, grade: 1,3, University of applied sciences, Düsseldorf, language: English, abstract: This work focuses on the private equity (PE) investments within SMEs. Fundamentals of private equity investments are reviewed in the second chapter. This includes definition and product categories of private equity and how PE business is organized as well as the history of PE market in Germany. The third chapter analyses the process of the PE deals including the different phases as well as the exit strategies. The last chapter critically analyse the PE deals from the point of view of the investor and the targeted company before closing with the outlook and conclusion. In the last decades, the private equity market in Germany has witnessed waves of rise and fall. But it surpassed, by the end of 2017, all the records of German PE history. According to Deutsche Beteiligungs (DBAG), the amount of transactions in the mid-sized businesses in the German market dramatically increased and hit €4.4 billion in 2017 which was the highest during the last 15 years. But in contrast, the competition in the German market has been recently high with a steady number of companies which led to high prices and overvalued companies. PE firms target the mid-sized businesses since they are more likely to accept financial investors than bank loans or credit lines. However, this problem can now be countered with the help of PE in the context of alternative corporate financing. It should be noted that PE business has been a concern of German politics and businesses since the 1960s where the financial system was basically based on banks which is not appropriate for the development of PE industry. The government intervention was the base to build a stronger PE industry away from bank-based financial systems. Recently, the stock market segment was a key driver for the dynamic development of PE market. The price falls and the collapse of the overheated and overvalued companies were also clearly felt in the PE segment and generated a great deal over scepticism on the capital markets.
Author: Publisher: GRIN Verlag ISBN: 3346123928 Category : Business & Economics Languages : en Pages : 26
Book Description
Seminar paper from the year 2018 in the subject Business economics - Investment and Finance, grade: 1,3, University of applied sciences, Düsseldorf, language: English, abstract: This work focuses on the private equity (PE) investments within SMEs. Fundamentals of private equity investments are reviewed in the second chapter. This includes definition and product categories of private equity and how PE business is organized as well as the history of PE market in Germany. The third chapter analyses the process of the PE deals including the different phases as well as the exit strategies. The last chapter critically analyse the PE deals from the point of view of the investor and the targeted company before closing with the outlook and conclusion. In the last decades, the private equity market in Germany has witnessed waves of rise and fall. But it surpassed, by the end of 2017, all the records of German PE history. According to Deutsche Beteiligungs (DBAG), the amount of transactions in the mid-sized businesses in the German market dramatically increased and hit €4.4 billion in 2017 which was the highest during the last 15 years. But in contrast, the competition in the German market has been recently high with a steady number of companies which led to high prices and overvalued companies. PE firms target the mid-sized businesses since they are more likely to accept financial investors than bank loans or credit lines. However, this problem can now be countered with the help of PE in the context of alternative corporate financing. It should be noted that PE business has been a concern of German politics and businesses since the 1960s where the financial system was basically based on banks which is not appropriate for the development of PE industry. The government intervention was the base to build a stronger PE industry away from bank-based financial systems. Recently, the stock market segment was a key driver for the dynamic development of PE market. The price falls and the collapse of the overheated and overvalued companies were also clearly felt in the PE segment and generated a great deal over scepticism on the capital markets.
Author: Anonym Publisher: ISBN: 9783346123930 Category : Languages : en Pages : 28
Book Description
Seminar paper from the year 2018 in the subject Business economics - Investment and Finance, grade: 1,3, University of applied sciences, Düsseldorf, language: English, abstract: This work focuses on the private equity (PE) investments within SMEs. Fundamentals of private equity investments are reviewed in the second chapter. This includes definition and product categories of private equity and how PE business is organized as well as the history of PE market in Germany. The third chapter analyses the process of the PE deals including the different phases as well as the exit strategies. The last chapter critically analyse the PE deals from the point of view of the investor and the targeted company before closing with the outlook and conclusion. In the last decades, the private equity market in Germany has witnessed waves of rise and fall. But it surpassed, by the end of 2017, all the records of German PE history. According to Deutsche Beteiligungs (DBAG), the amount of transactions in the mid-sized businesses in the German market dramatically increased and hit 4.4 billion in 2017 which was the highest during the last 15 years. But in contrast, the competition in the German market has been recently high with a steady number of companies which led to high prices and overvalued companies. PE firms target the mid-sized businesses since they are more likely to accept financial investors than bank loans or credit lines. However, this problem can now be countered with the help of PE in the context of alternative corporate financing. It should be noted that PE business has been a concern of German politics and businesses since the 1960s where the financial system was basically based on banks which is not appropriate for the development of PE industry. The government intervention was the base to build a stronger PE industry away from bank-based financial systems. Recently, the stock market segment was a key driver for the dynamic development of PE market. The price fall
Author: Timo Zimenga Publisher: GRIN Verlag ISBN: 3346242382 Category : Business & Economics Languages : en Pages : 37
Book Description
Seminar paper from the year 2019 in the subject Business economics - Investment and Finance, grade: 2,0, University of applied sciences, Düsseldorf, course: International Investment & Controlling, language: English, abstract: Is it worth the time and work involved in taking various risks and sometimes the path into the unknown? This question arises in the context with private equity financing. However, this is also a question which arises in companies when it comes to identifying a source of finance. No matter for what reason the company needs a financial injection, either for internal development, new production machinery or for a breakthrough into new markets. In order to find out more about private equity, the assignments objective for the module “International Investment & Controlling” addresses the topic: “Critical analysis of private equity investments in SME” For this purpose, this assignment will start with a short introduction on the relevance of the topic, followed by the fundamentals and theoretical basis of private equity as well as about SME’s. Furthermore, the actual problematic situation which belongs to private equity investments is presented. After these introducing topics the paper switches to its main part, the critical analysis about - Investment done by GP / LP and a return increase; - Leveraged buyouts; - Risks characteristics; - Rules, regulations & contractual infrastructure. Finally, a conclusion as well as a critical outlook are provided. This conclusion contains that both, investors and companies, want to have a clearer view about risks and contractual requirements and restrictions.
Author: Claudia Zeisberger Publisher: John Wiley & Sons ISBN: 1119328004 Category : Business & Economics Languages : en Pages : 411
Book Description
Global Best Practice in Private Equity Investing Private Equity in Action takes you on a tour of the private equity investment world through a series of case studies written by INSEAD faculty and taught at the world's leading business schools. The book is an ideal complement to Mastering Private Equity and allows readers to apply core concepts to investment targets and portfolio companies in real-life settings. The 19 cases illustrate the managerial challenges and risk-reward dynamics common to private equity investment. The case studies in this book cover the full spectrum of private equity strategies, including: Carve-outs in the US semiconductor industry (LBO) Venture investing in the Indian wine industry (VC) Investing in SMEs in the Middle East Turnaround situations in both emerging and developed markets Written with leading private equity firms and their advisors and rigorously tested in INSEAD's MBA, EMBA and executive education programmes, each case makes for a compelling read. As one of the world's leading graduate business schools, INSEAD offers a global educational experience. The cases in this volume leverage its international reach, network and connections, particularly in emerging markets. Private Equity in Action is the companion to Mastering Private Equity: Transformation via Venture Capital, Minority Investments & Buyouts, a reference for students, investors, finance professionals and business owners looking to engage with private equity firms. From deal sourcing to exit, LBOs to responsible investing, operational value creation to risk management, Mastering Private Equity systematically covers all facets of the private equity life cycle.
Author: Publisher: GRIN Verlag ISBN: 3346672379 Category : Business & Economics Languages : en Pages : 27
Book Description
Seminar paper from the year 2021 in the subject Business economics - Investment and Finance, grade: 1,3, University of Applied Sciences Essen, course: International Investment, language: English, abstract: This term paper is split into five chapters. After the introduction, the theoretical framework of small- and medium-sized enterprises (SMEs) and private equity (PE) is elaborated. Besides the explanatory definition of PE, an overview of PE types and the roles in PE investments is provided. Chapter three emphasizes the process of PE investments and their characteristics from the planning stage to exit strategies. Before the conclusion, opportunities and threats for SMEs and investors in PE investments are derived in section four.
Author: Claudia Zeisberger Publisher: John Wiley & Sons ISBN: 1119431166 Category : Business & Economics Languages : en Pages : 826
Book Description
This set combines the definitive guide to private equity with its case book companion, providing readers with both the tools used by industry professionals and the means to apply them to real-life investment scenarios. 1) Mastering Private Equity was written with a professional audience in mind and provides a valuable and unique reference for investors, finance professionals, students and business owners looking to engage with private equity firms or invest in private equity funds. From deal sourcing to exit, LBOs to responsible investing, operational value creation to risk management, the book systematically distils the essence of private equity into core concepts and explains in detail the dynamics of venture capital, growth equity and buyout transactions. With a foreword by Henry Kravis, Co-Chairman and Co-CEO of KKR, and special guest comments by senior PE professionals. 2) Private Equity in Action takes you on a tour of the private equity investment world through a series of case studies written by INSEAD faculty and taught at the world’s leading business schools. The book is an ideal complement to Mastering Private Equity and allows readersto apply core concepts to investment targets and portfolio companies in real-life settings. The 19 cases illustrate the managerial challenges and risk-reward dynamics common to private equity investment. Written with leading private equity firms and their advisors and rigorously tested in INSEAD's MBA, EMBA and executive education programmes, each case makes for a compelling read.
Author: Richard S. Ruback Publisher: Harvard Business Review Press ISBN: 1633692515 Category : Business & Economics Languages : en Pages : 220
Book Description
An all-in-one guide to helping you buy and own your own business. Are you looking for an alternative to a career path at a big firm? Does founding your own start-up seem too risky? There is a radical third path open to you: You can buy a small business and run it as CEO. Purchasing a small company offers significant financial rewards—as well as personal and professional fulfillment. Leading a firm means you can be your own boss, put your executive skills to work, fashion a company environment that meets your own needs, and profit directly from your success. But finding the right business to buy and closing the deal isn't always easy. In the HBR Guide to Buying a Small Business, Harvard Business School professors Richard Ruback and Royce Yudkoff help you: Determine if this path is right for you Raise capital for your acquisition Find and evaluate the right prospects Avoid the pitfalls that could derail your search Understand why a "dull" business might be the best investment Negotiate a potential deal with the seller Avoid deals that fall through at the last minute Arm yourself with the advice you need to succeed on the job, with the most trusted brand in business. Packed with how-to essentials from leading experts, the HBR Guides provide smart answers to your most pressing work challenges.
Author: Mr.Federico J Diez Publisher: International Monetary Fund ISBN: 1513574566 Category : Business & Economics Languages : en Pages : 29
Book Description
The COVID-19 pandemic has increased insolvency risks, especially among small and medium enterprises (SMEs), which are vastly overrepresented in hard-hit sectors. Without government intervention, even firms that are viable a priori could end up being liquidated—particularly in sectors characterized by labor-intensive technologies, threatening both macroeconomic and social stability. This staff discussion note assesses the impact of the pandemic on SME insolvency risks and policy options to address them. It quantifies the impact of weaker aggregate demand, changes in sectoral consumption patterns, and lockdowns on firm balance sheets and estimates the impact of a range of policy options, for a large sample of SMEs in (mostly) advanced economies.
Author: F. Beltrame Publisher: Springer ISBN: 1137389303 Category : Business & Economics Languages : en Pages : 228
Book Description
As well as reviewing traditional models, this book proposes an alternative model for estimating the cost of risk capital. This model, known as CaRM (Capital at Risk Model), bases the cost estimate of risk capital on VaR (Value at Risk) for the very first time. This book is an ideal resource for developing valuation research in SMEs.
Author: Karis McGill Publisher: RTI Press ISBN: Category : Business & Economics Languages : en Pages : 20
Book Description
This study analyzes the return on investment for an agribusiness facilitation fund implemented in Rwanda. Combining project monitoring data with supplementary surveys and interviews of recipient agribusinesses, we find a positive return on investment in terms of farmer income generated per dollar spent by the US government. To determine the commercial viability of the investments, we estimate the payback period and find the median time it will take a firm to recoup the entire investment through profits is 3.7 years. We estimate the net present value of the entire fund portfolio to be $12.5 million. These estimates rely on conservative assumptions and likely underrepresent the profitability of the investments. Given the positive returns and commercial viability of the agribusinesses, we examine the fund’s role as a first step to “graduate” firms toward investment readiness. Although three firms did access equity investment, we find that the majority of the businesses in the portfolio do not meet investor requirements for deal size and management capacity and are more appropriately financed by commercial lenders. We conclude with recommendations for the implementation and measurement of similar funds.
Author: 
Author: 
Author: Anonym
Author: Timo Zimenga
Author: Claudia Zeisberger
Author: 
Author: Claudia Zeisberger
Author: Richard S. Ruback
Author: Mr.Federico J Diez
Author: F. Beltrame
Author: Karis McGill