Reiner Braun

Technische Universität München (TUM) - TUM School of Management

Professor of Entrepreneurial Finance

Arcisstr. 21

Munich, Deutschland 80333

Germany

http://www.ef.wi.tum.de/

Center for Entrepreneurial and Financial Studies

Arcisstrasse 21

Munich, DE 80333

Germany

  • Technische Universität München (TUM) - TUM School of Management

    • Email
    • Tel: +498928925181
    • Fax: +498928925188

  • Center for Entrepreneurial and Financial Studies

SCHOLARLY PAPERS

36

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59

CROSSREF CITATIONS

25

Scholarly Papers (36)

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1.

Benchmarking Venture Capital Databases

Number of pages: 47 Posted: 24 Nov 2020
Andre Retterath and Reiner Braun
Technical University Munich and Technische Universität München (TUM) - TUM School of Management
Downloads 4,921 (2,847)

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venture capital, startups, database, benchmarking

2.

Adverse Selection and the Performance of Private Equity Co-Investments

Number of pages: 52 Posted: 19 Nov 2016 Last Revised: 15 Dec 2018
Reiner Braun, Tim Jenkinson and Christoph Schemmerl
Technische Universität München (TUM) - TUM School of Management, University of Oxford - Said Business School and Technische Universität München (TUM) - TUM School of Management
Downloads 1,790 (14,941)
Citation 11

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Private equity, financial intermediation, co-investment, adverse selection

3.

How Persistent is Private Equity Performance? Evidence from Deal-Level Data

Number of pages: 42 Posted: 23 Aug 2013 Last Revised: 23 Jan 2018
Reiner Braun, Tim Jenkinson and Ingo Stoff
Technische Universität München (TUM) - TUM School of Management, University of Oxford - Said Business School and Technische Universität München (TUM) - Center for Entrepreneurial and Financial Studies
Downloads 1,621 (17,374)
Citation 28

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private equity, returns, persistence, portfolio companies

4.

Size, Returns, and Value Added: Do Private Equity Firms Allocate Capital According To Manager Skill?

Number of pages: 57 Posted: 29 Oct 2019 Last Revised: 24 Jan 2023
Reiner Braun, Nils Dorau, Tim Jenkinson and Daniel Urban
Technische Universität München (TUM) - TUM School of Management, Technische Universität München (TUM), University of Oxford - Said Business School and Erasmus University Rotterdam (EUR) - Department of Business Economics
Downloads 1,404 (21,592)
Citation 1

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Private equity, performance persistence, value added, skill, scale

5.

Distortion or Cash Flow Management? Understanding Credit Facilities in Private Equity Funds

Number of pages: 38 Posted: 12 Aug 2019 Last Revised: 25 Feb 2020
Pierre Schillinger, Reiner Braun and Jeroen Cornel
Technische Universität München (TUM) - TUM School of Management, Technische Universität München (TUM) - TUM School of Management and BlackRock, Inc
Downloads 888 (41,841)
Citation 1

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Private Equity, Leveraged Buyout, Institutional Investors, Subscription Lines of Credit, Fund Debt, Fund Simulation, Returns

6.

Value Creation in Private Equity

Number of pages: 7 Posted: 04 Mar 2017
Kairat Perembetov, Ivan Herger, Reiner Braun and Benjamin Puche
Capital Dynamics AG, Capital Dynamics AG, Technische Universität München (TUM) - TUM School of Management and Technische Universität München (TUM) - Center for Entrepreneurial and Financial Studies
Downloads 778 (49,991)
Citation 2

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private equity, buyout, value creation, private equity alpha

7.

Structure and Determinants of Financial Covenants in Leveraged Buyouts

Review of Finance, 2011 (First Published Online March 1, 2011)
Number of pages: 53 Posted: 14 Dec 2009 Last Revised: 22 Jul 2011
Ann‐Kristin Achleitner, Reiner Braun, Bastian Hinterramskogler and Florian Tappeiner
Technische Universität München - Center for Entrepreneurial and Financial Studies, Technische Universität München (TUM) - TUM School of Management, Technische Universität München - Center for Entrepreneurial and Financial Studies (CEFS) and Technische Universität München - Center for Entrepreneurial and Financial Studies
Downloads 724 (54,986)
Citation 4

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Financial covenants, leveraged buyouts, financing structure, control rights

8.

Risk of Private Equity Fund-of-Fund Investments - A Detailed Cash Flow-Based Approach

Number of pages: 32 Posted: 26 Mar 2009
Ann‐Kristin Achleitner, Reiner Braun, Matthias Schaller and Florian Tappeiner
Technische Universität München - Center for Entrepreneurial and Financial Studies, Technische Universität München (TUM) - TUM School of Management, Risk Solution Network AG and Technische Universität München - Center for Entrepreneurial and Financial Studies
Downloads 723 (55,089)
Citation 1

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9.

The Limited Partnership Model in Private Equity: Deal Returns over a Fund's Life

Center for Entrepreneurial and Financial Studies Working Paper No. 2014-01
Number of pages: 43 Posted: 19 Mar 2014
Reiner Braun and Maximilian Schmidt
Technische Universität München (TUM) - TUM School of Management and Technische Universität München (TUM) - Center for Entrepreneurial and Financial Studies (CEFS)
Downloads 502 (87,708)
Citation 3

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Financial intermediation, private equity, limited partnership, returns

10.

The GP-LP Conflict in Private Equity Funds Revisited: The Impact of Fund-Level Considerations on the Divestment Decision

Number of pages: 43 Posted: 06 May 2012
Christian Figge, Oliver Bauer, Reiner Braun and Ann‐Kristin Achleitner
Technische Universität München - Center for Entrepreneurial and Financial Studies, Technische Universität München (TUM), Technische Universität München (TUM) - TUM School of Management and Technische Universität München - Center for Entrepreneurial and Financial Studies
Downloads 488 (90,730)
Citation 1

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principal agent conflict, private equity, divestment decision, buyouts

11.

Does Charter Competition Foster Entrepreneurship? A Difference-in-Difference Approach to European Company Law Reforms

ECGI - Finance Working Paper No. 308/2011
Number of pages: 40 Posted: 27 Jan 2012
Lars Hornuf, Horst Eidenmueller, Andreas Engert and Reiner Braun
University of Bremen - Faculty of Business Studies and Economics, University of Oxford - Faculty of Law, Freie Universität Berlin, Department of Law and Technische Universität München (TUM) - TUM School of Management
Downloads 472 (94,483)
Citation 5

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entrepreneurship, regulatory competition, charter competition, corporate mobility

12.

Follow the Money: How Venture Capital Facilitates Emigration of Firms and Entrepreneurs in Europe

Number of pages: 58 Posted: 09 Jul 2019 Last Revised: 16 Jun 2021
Reiner Braun, Stefan Weik and Ann‐Kristin Achleitner
Technische Universität München (TUM) - TUM School of Management, Technische Universität München (TUM) - TUM School of Management and Technische Universität München - Center for Entrepreneurial and Financial Studies
Downloads 436 (103,622)
Citation 3

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foreign venture capital, exit, international migration

13.

Community Development Venture Capital: Concept and Status Quo in Germany

International Journal of Entrepreneurship and Innovation Management (IJEIM), Vol. 9, No. 4/2009, pp. 437-452
Number of pages: 30 Posted: 21 Feb 2008 Last Revised: 01 Nov 2009
Ann‐Kristin Achleitner, Reiner Braun, Marko Bender and Annabell Geidner
Technische Universität München - Center for Entrepreneurial and Financial Studies, Technische Universität München (TUM) - TUM School of Management, Technische Universität München - Center for Entrepreneurial and Financial Studies and Technische Universität München (TUM) - Center for Entrepreneurial and Financial Studies (CEFS)
Downloads 421 (107,958)

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regional development, community development venture capital, regional equity gap

14.

Venture Capital Firm Returns from Acquisition Exits

Center for Entrepreneurial and Financial Studies Working Paper No. 2012-01
Number of pages: 44 Posted: 21 Jan 2012
Ann‐Kristin Achleitner, Reiner Braun, Eva Lutz and Uwe Reiner
Technische Universität München - Center for Entrepreneurial and Financial Studies, Technische Universität München (TUM) - TUM School of Management, Heinrich-Heine-Universität Düsseldorf, Endowed Chair in Entrepreneurship/Entrepreneurial Finance and Technische Universität München (TUM) - Center for Entrepreneurial and Financial Studies (CEFS)
Downloads 372 (124,390)
Citation 5

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Acquisition, exit strategy, initial public offering, venture capital, investment performance, IRR, Cash Multiple

15.

In the Eye of the Beholder: How Regulatory Focus and Self-Efficacy Interact in Influencing Opportunity Recognition

Journal of Business Venturing, Forthcoming
Number of pages: 48 Posted: 15 Sep 2011 Last Revised: 21 Mar 2012
Andranik Tumasjan, Andranik Tumasjan and Reiner Braun
Johannes Gutenberg-Universität MainzJohannes Gutenberg University Mainz and Technische Universität München (TUM) - TUM School of Management
Downloads 366 (126,689)
Citation 4

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opportunity recognition, regulatory focus theory, creative self-efficacy, entrepreneurial self-efficacy, entrepreneurial cognition

16.

Goal Structures in Family Firms: Empirical Evidence on the Relationship between Firm and Family Goals

Number of pages: 28 Posted: 29 May 2009 Last Revised: 06 Dec 2010
Ann‐Kristin Achleitner, Carolin Bock, Reiner Braun, Stephanie Schraml and Juliane Welter
Technische Universität München - Center for Entrepreneurial and Financial Studies, Technische Universität Darmstadt, Technische Universität München (TUM) - TUM School of Management, Technische Universität München - Center for Entrepreneurial and Financial Studies and Technische Universität München (TUM)
Downloads 359 (129,384)

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family firms, goal preferences, agency theory, stewardship theory

17.

The Cost of Private Equity

Number of pages: 39 Posted: 16 Nov 2013
Ingo Stoff and Reiner Braun
Technische Universität München (TUM) - Center for Entrepreneurial and Financial Studies and Technische Universität München (TUM) - TUM School of Management
Downloads 334 (139,970)

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Private equity, fund return, dry powder, investment behavior

18.

Resilience and Cyclicality in Private Equity: Value Creation and Investment Flows in Economic Cycles

Number of pages: 54 Posted: 31 Oct 2022 Last Revised: 13 Dec 2022
Alexander Juergens and Reiner Braun
Technische Universität München (TUM) - TUM School of Management and Technische Universität München (TUM) - TUM School of Management
Downloads 306 (153,542)

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Private Equity, Leveraged Buyouts, Institutional Investors, Value Creation, Economic Cycles

19.

Do You Get What You See in Private Equity? A Bayesian Decomposition of Investment Skills

Number of pages: 60 Posted: 21 Nov 2022
Alexander Juergens, Reiner Braun and Yichun Dong
Technische Universität München (TUM) - TUM School of Management, Technische Universität München (TUM) - TUM School of Management and Technical University of Munich
Downloads 271 (174,115)

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Private Equity, Leveraged Buyouts, Persistence, Skills, Institutional Investors

20.

The Levered Returns of Leveraged Buyouts: The Impact of Competition

Number of pages: 42 Posted: 01 Oct 2015 Last Revised: 16 Nov 2017
Reiner Braun, Nicholas Crain and Anna Gerl
Technische Universität München (TUM) - TUM School of Management, BlackRock and Technische Universität München (TUM)
Downloads 168 (271,423)
Citation 2

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Leverage, pricing, returns, competition, agency conflicts, leveraged buyouts

21.

University Venture Capital – The Promise and Pitfalls of University Direct Investments

Number of pages: 37 Posted: 17 Mar 2022
Maximilian Kremer, Ann‐Kristin Achleitner and Reiner Braun
Technische Universität München (TUM) - Center for Entrepreneurial and Financial Studies (CEFS), Technische Universität München - Center for Entrepreneurial and Financial Studies and Technische Universität München (TUM) - TUM School of Management
Downloads 163 (278,316)

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Venture Capital, University Investors, University Spin-offs, University Technology Transfer

22.

The Hunter Becomes the Hunted: Non-Financial Aspects of Venture Capitalists’ Attractiveness

Number of pages: 57 Posted: 28 Jun 2017
Sarah Theinert, Reiner Braun and Anna Gerl
Technische Universität München (TUM) - TUM School of Management, Technische Universität München (TUM) - TUM School of Management and Technische Universität München (TUM)
Downloads 150 (298,161)
Citation 1

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Venture capital, resource-based view, agency theory, value add, smart capital

23.

Innovationskraft in Deutschland verbessern: Ökosystem für Wachstumsfinanzierung stärken (Enhancing Innovation in Germany by Strengthening the Growth Finance Ecosystem)

Achleitner et al.: Innovationskraft in Deutschland verbessern: Ökosystem für Wachstumsfinanzierung stärken (acatech STUDIE), München 2019 http://www.acatech.de/
Number of pages: 42 Posted: 02 Dec 2019
Ann‐Kristin Achleitner, Reiner Braun, Jan Henning Behrens and Thomas Lange
Technische Universität München - Center for Entrepreneurial and Financial Studies, Technische Universität München (TUM) - TUM School of Management, acatech - DEUTSCHE AKADEMIE DER TECHNIKWISSENSCHAFTEN and acatech - DEUTSCHE AKADEMIE DER TECHNIKWISSENSCHAFTEN
Downloads 149 (299,777)

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Wagniskapital, Wachstumsfinanzierung, Innovation, Künstliche Intelligenz, Wachstumsunternehmen

24.

Generating New Business Ideas: The Ability of Category Combination and Reorganization

Number of pages: 41 Posted: 28 Jun 2009
Reiner Braun
Technische Universität München (TUM) - TUM School of Management
Downloads 142 (311,642)

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category combination and reorganization, opportunity recognition, entrepreneurial cognition

25.

Fishing Among Sharks – GP-LP Investment Syndication in Later-stage Venture Capital

Number of pages: 41 Posted: 02 Mar 2021
Ann‐Kristin Achleitner, Reiner Braun and Henry Keppler
Technische Universität München - Center for Entrepreneurial and Financial Studies, Technische Universität München (TUM) - TUM School of Management and Technische Universität München - Center for Entrepreneurial and Financial Studies
Downloads 103 (393,876)

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Venture capital, Syndication, Agency theory

26.

Doing Well by Doing Good? – Venture Capital Mission Investments by Charitable Nonprofit Foundations and University Endowments

Number of pages: 38 Posted: 17 Mar 2022
Maximilian Kremer, Ann‐Kristin Achleitner and Reiner Braun
Technische Universität München (TUM) - Center for Entrepreneurial and Financial Studies (CEFS), Technische Universität München - Center for Entrepreneurial and Financial Studies and Technische Universität München (TUM) - TUM School of Management
Downloads 70 (497,296)

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Venture capital performance, Institutional investors, Impact investing, Mission-related investments

27.

Enhancing Innovation in Germany by Strengthening the Growth Finance Ecosystem

acatech publication (acatech STUDY), 2019
Number of pages: 40 Posted: 11 Oct 2019 Last Revised: 05 Nov 2019
Ann‐Kristin Achleitner, Reiner Braun, Jan Henning Behrens and Thomas Lange
Technische Universität München - Center for Entrepreneurial and Financial Studies, Technische Universität München (TUM) - TUM School of Management, acatech - DEUTSCHE AKADEMIE DER TECHNIKWISSENSCHAFTEN and acatech - DEUTSCHE AKADEMIE DER TECHNIKWISSENSCHAFTEN
Downloads 64 (521,093)

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venture capital, growth financing, enhancing innovation, artificial antelligence, growth companies

28.

The Risk Appetite of Private Equity Sponsors

Journal of Empirical Finance, Vol. 18, No. 5, pp. 815-832
Number of pages: 35 Posted: 19 Jan 2011 Last Revised: 25 Aug 2019
Reiner Braun, Nico Engel, Peter Hieber and Rudi Zagst
Technische Universität München (TUM) - TUM School of Management, Technische Universität München - Center for Entrepreneurial and Financial Studies, Université de Lausanne and Technische Universität München (TUM) - Chair of Mathematical Finance
Downloads 34 (681,094)
Citation 2

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Risk Appetite, Equity Volatility, Private Equity

29.

Software is Eating the World: Using Machine Learning to Analyze Private Equity Style Drift Toward Software

Number of pages: 74 Posted: 29 Dec 2022
Isabella Stojkovski and Reiner Braun
Technische Universität München (TUM) - Center for Entrepreneurial and Financial Studies and Technische Universität München (TUM) - TUM School of Management
Downloads 33 (681,094)

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Private equity, style drift, style investing, software investing, machine learning, natural language processing, text classification

30.

Buyout Transactions in the German‐Speaking Region: Determinants of Abnormal Performance and Unlevered Returns

Journal of Applied Corporate Finance, Vol. 30, Issue 2, pp. 50-64, 2018
Number of pages: 17 Posted: 01 Mar 2023
Fabian Söffge and Reiner Braun
Technische Universität München (TUM) - Entrepreneurial Finance and Technische Universität München (TUM) - TUM School of Management
Downloads 4 (917,461)

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31.

Deal Pricing and Returns in Private Equity

Posted: 09 Jan 2016
Benjamin Puche and Reiner Braun
Technische Universität München (TUM) - Center for Entrepreneurial and Financial Studies and Technische Universität München (TUM) - TUM School of Management

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32.

International Evidence on Value Creation in Private Equity Transactions

Journal of Applied Corporate Finance, 2015, Forthcoming
Posted: 17 Sep 2014 Last Revised: 19 Dec 2015
Benjamin Puche, Reiner Braun and Ann‐Kristin Achleitner
Technische Universität München (TUM) - Center for Entrepreneurial and Financial Studies, Technische Universität München (TUM) - TUM School of Management and Technische Universität München - Center for Entrepreneurial and Financial Studies

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private equity, value creation drivers, leveraged buyouts

33.

Leverage and the Performance of Buyouts: (How) Does the Use of Debt Impact Equity Returns?

Zeitschrift für Betriebswirtschaft (ZfB), Forthcoming
Posted: 10 Jan 2012
Nico Engel, Reiner Braun and Ann‐Kristin Achleitner
Technische Universität München - Center for Entrepreneurial and Financial Studies, Technische Universität München (TUM) - TUM School of Management and Technische Universität München - Center for Entrepreneurial and Financial Studies

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private equity, buyout, performance, leverage, debt-equity-arbitrage

34.

Value Creation and Pricing in Buyouts: Empirical Evidence from Europe and North America

Review of Financial Economics, Vol. 20, No. 4, pp. 146-161
Posted: 18 Jan 2011 Last Revised: 20 Dec 2011
Ann‐Kristin Achleitner, Reiner Braun and Nico Engel
Technische Universität München - Center for Entrepreneurial and Financial Studies, Technische Universität München (TUM) - TUM School of Management and Technische Universität München - Center for Entrepreneurial and Financial Studies

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Private Equity, Buyouts, Value Creation, Leverage, Pricing, Multiple Expansion

35.

Value Creation Drivers in Private Equity Buyouts: Empirical Evidence from Europe

The Journal of Private Equity, Spring 2010
Posted: 01 Nov 2009 Last Revised: 02 Mar 2010
Ann‐Kristin Achleitner, Reiner Braun, Nico Engel, Christian Figge and Florian Tappeiner
Technische Universität München - Center for Entrepreneurial and Financial Studies, Technische Universität München (TUM) - TUM School of Management, Technische Universität München - Center for Entrepreneurial and Financial Studies, Technische Universität München - Center for Entrepreneurial and Financial Studies and Technische Universität München - Center for Entrepreneurial and Financial Studies

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private equity, leveraged buyouts (LBOs), value creation

36.

In the Eye of the Beholder: How Construing Situations Affects Opportunity Recognition

Posted: 31 Mar 2008 Last Revised: 18 Mar 2011
Reiner Braun
Technische Universität München (TUM) - TUM School of Management

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opportunity recognition, entrepreneurship, entrepreneurial cognition, problem solving, problem finding, problem construction