Factors that determine the reputation of private equity managers in developing markets [An article from: Journal of Business Venturing]

This digital document is a journal article from Journal of Business Venturing, published by Elsevier in 2007. The article is delivered in HTML format and is available in your Amazon.com Media Library immediately after purchase. You can view it with any web browser.

Description:
This paper analyzes the relationship between investors and private equity managers in order to identify the factors that affect the latter's reputation. Since there are no individual references about their past returns in developing private equity markets, the reputation of such players is thought to be linked to their capacity for obtaining new funds. Results provide evidence of the volume of investments recorded in the past, the ratio of portfolio companies to investment manager, the percentage of divestments carried out through initial public offerings and trade sales, the membership of the national private equity association and the size of funds under management as characteristics of the highest importance in raising funds.