کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
1013935 939340 2014 9 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Equity-worthiness and equity-willingness: Key factors in private equity deals
ترجمه فارسی عنوان
ارزش سهام و تمایل سهام: عوامل کلیدی در معاملات سهام خصوصی
کلمات کلیدی
کارآفرینان، تامین مالی، سرمایه خصوصی، مذاکره پیش از مذاکره، صلاحیت و تمایل
موضوعات مرتبط
علوم انسانی و اجتماعی مدیریت، کسب و کار و حسابداری کسب و کار و مدیریت بین المللی
چکیده انگلیسی

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 firm's equity-willingness (i.e., the company's motivations to accept an outside equity investor). We summarize the results of our study by building a 2x2 positioning matrix on the basis of the target firm's equity-worthiness and equity-willingness. This matrix enables entrepreneurs to grasp how private equity investors evaluate their firms.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Business Horizons - Volume 57, Issue 5, September–October 2014, Pages 637–645
نویسندگان
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