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dc.contributor.authorBernoth, Kerstinen_US
dc.contributor.authorColavecchio, Robertaen_US
dc.contributor.authorSass, Magdolnaen_US
dc.date.accessioned2010-05-10en_US
dc.date.accessioned2010-07-22T09:28:40Z-
dc.date.available2010-07-22T09:28:40Z-
dc.date.issued2010en_US
dc.identifier.urihttp://hdl.handle.net/10419/36716-
dc.description.abstractA strong private equity market is a cornerstone for commercialization and innovation in modern economies. However, substantial differences exist in the relative amounts raised and invested in private equity across European countries. We investigate the macro-determinants of private equity investment in Europe, focusing on the comparison between CEE and Western European countries. Our estimations are based on a data set running from 2001 to 2008 and covers 14 Western European and three CEE countries. Applying robust estimation techniques we identify a 'robust' set of determinants of private equity activity in both regions. We find similarities as well as differences in the driving forces of private equity investments in Western European and CEE countries. Our results suggest that commercial bank lending, equity market capitalization, unit labour costs and corporate tax rates are significant determinants of private equity activity.en_US
dc.language.isoengen_US
dc.publisherDeutsches Institut für Wirtschaftsforschung (DIW) Berlinen_US
dc.relation.ispartofseriesDiscussion papers // German Institute for Economic Research 1002en_US
dc.rights.accessrightsinfo:eu-repo/semantics/openAccess-
dc.subject.jelC23en_US
dc.subject.jelC52en_US
dc.subject.jelE22en_US
dc.subject.jelG24en_US
dc.subject.ddc330en_US
dc.subject.keywordPrivate equityen_US
dc.subject.keywordextreme bounds analysisen_US
dc.subject.keywordCentral and Eastern European countriesen_US
dc.subject.stwPrivate Equityen_US
dc.subject.stwPortfolio-Investitionen_US
dc.subject.stwDirektinvestitionen_US
dc.subject.stwStandortfaktoren_US
dc.subject.stwSchätzungen_US
dc.subject.stwWesteuropaen_US
dc.subject.stwOstmitteleuropaen_US
dc.titleDrivers of private equity investment in CEE and Western European countriesen_US
dc.typeWorking Paperen_US
dc.identifier.ppn625823060en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.relation.projectidinfo:eu-repo/grantAgreement/EC/FP7/217266-
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