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

SCHOLARLY PAPERS

37

DOWNLOADS
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Top 2,317

in Total Papers Downloads

25,919

SSRN CITATIONS
Rank 12,203

SSRN RANKINGS

Top 12,203

in Total Papers Citations

105

CROSSREF CITATIONS

25

Scholarly Papers (37)

1.

Benchmarking Venture Capital Databases

Number of pages: 47 Posted: 24 Nov 2020
Andre Retterath and Reiner Braun
Technische Universität München (TUM) and Technische Universität München (TUM) - TUM School of Management
Downloads 6,628 (2,144)

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venture capital, startups, database, benchmarking

2.

Limited Partners versus Unlimited Machines; Artificial Intelligence and the Performance of Private Equity Funds

Number of pages: 62 Posted: 26 Jun 2023 Last Revised: 08 Jan 2024
Université Côte d'Azur - SKEMA Business School, Technische Universität München (TUM) - TUM School of Management, SKEMA Business School, University of Oxford - Said Business School and Unigestion SA
Downloads 3,109 (7,671)

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Private equity, performance predictability, natural language processing, machine learning

3.

Adverse Selection and the Performance of Private Equity Co-Investments

Number of pages: 52 Posted: 19 Nov 2016 Last Revised: 15 Dec 2018
Technische Universität München (TUM) - TUM School of Management, University of Oxford - Said Business School and Technische Universität München (TUM) - TUM School of Management
Downloads 2,142 (13,910)
Citation 31

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

4.

Size, returns, and value added: Do private equity firms allocate capital according to manager skill?

Number of pages: 52 Posted: 29 Oct 2019 Last Revised: 30 May 2024
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 1,836 (17,705)
Citation 1

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

5.

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 1,808 (18,147)
Citation 28

Abstract:

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private equity, returns, persistence, portfolio companies

6.

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 1,042 (41,013)
Citation 1

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

7.

Value Creation in Private Equity

Number of pages: 7 Posted: 04 Mar 2017
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 1,004 (43,286)
Citation 2

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private equity, buyout, value creation, private equity alpha

8.

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

Number of pages: 32 Posted: 26 Mar 2009
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 804 (58,666)
Citation 1

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9.

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
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 751 (64,343)
Citation 4

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Financial covenants, leveraged buyouts, financing structure, control rights

10.

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
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 591 (87,205)
Citation 4

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foreign venture capital, exit, international migration

11.

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 578 (89,676)
Citation 3

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Financial intermediation, private equity, limited partnership, returns

12.

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
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 557 (93,943)
Citation 1

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principal agent conflict, private equity, divestment decision, buyouts

13.

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
Technische Universität Dresden, University of Oxford - Faculty of Law, Freie Universität Berlin, Department of Law and Technische Universität München (TUM) - TUM School of Management
Downloads 494 (108,941)
Citation 5

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entrepreneurship, regulatory competition, charter competition, corporate mobility

14.

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 474 (114,387)

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

15.

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
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 433 (127,329)

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regional development, community development venture capital, regional equity gap

16.

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 430 (128,353)

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Private equity, fund return, dry powder, investment behavior

17.

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
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 423 (130,796)
Citation 4

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

18.

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 411 (135,152)

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

19.

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
Johannes Gutenberg-Universität MainzJohannes Gutenberg University Mainz and Technische Universität München (TUM) - TUM School of Management
Downloads 389 (143,913)
Citation 9

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

20.

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
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 378 (148,559)

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family firms, goal preferences, agency theory, stewardship theory

21.

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

Number of pages: 37 Posted: 17 Mar 2022
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 258 (222,098)
Citation 3

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

22.

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 216 (263,692)
Citation 2

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

23.

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 204 (277,974)
Citation 1

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

24.

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
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 189 (297,720)

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Wagniskapital, Wachstumsfinanzierung, Innovation, Künstliche Intelligenz, Wachstumsunternehmen

25.

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 172 (323,570)

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category combination and reorganization, opportunity recognition, entrepreneurial cognition

26.

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

Number of pages: 41 Posted: 02 Mar 2021
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 137 (390,262)

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Venture capital, Syndication, Agency theory

27.

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

Number of pages: 38 Posted: 17 Mar 2022
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 115 (445,923)

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

28.

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 113 (451,787)

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

29.

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
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 107 (470,158)

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

30.

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 86 (542,695)
Citation 2

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Risk Appetite, Equity Volatility, Private Equity

31.

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 40 (787,292)

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32.

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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33.

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
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

34.

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

Zeitschrift für Betriebswirtschaft (ZfB), Forthcoming
Posted: 10 Jan 2012
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

35.

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
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

36.

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
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

37.

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