Axel Buchner

University of Passau

Innstraße 27

Passau, 94030

Germany

CEPRES - Center of Private Equity Research

Max-Joseph-Strasse 7

Munich, 80333

Germany

SCHOLARLY PAPERS

15

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8,948

SSRN CITATIONS
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Top 29,638

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Scholarly Papers (15)

1.

Risk, Return and Cash Flow Characteristics of Infrastructure Fund Investments

EIB Papers, Vol. 15, No. 1, pp. 106-136, 2010
Number of pages: 32 Posted: 29 Jan 2012
Florian Bitsch, Axel Buchner and Christoph Kaserer
Technische Universität München - Center for Entrepreneurial and Financial Studies, University of Passau and Technische Universität München (TUM)
Downloads 2,103 (6,616)
Citation 1

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infrastructure investment, infrastructure fund, risk, return

2.

Private Equity Funds: Valuation, Systematic Risk and Illiquidity

Number of pages: 61 Posted: 06 Mar 2008 Last Revised: 15 Jan 2015
Axel Buchner, Christoph Kaserer and Niklas Wagner
University of Passau, Technische Universität München (TUM) and Passau University
Downloads 1,091 (19,046)
Citation 3

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private equity, venture capital, buyout, fund life cycle, equilibrium fund values, illiquidity and expected returns, time-varying systematic risk

3.
Downloads 1,008 ( 21,390)
Citation 1

Risk Management for Private Equity Funds

Number of pages: 48 Posted: 16 Jan 2015
Axel Buchner
University of Passau
Downloads 1,007 (21,055)
Citation 1

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Private equity, risk management, Value-at-Risk, Cash-Flow-at-Risk, Liquidity-Adjusted Value-at-Risk

Risk Management for Private Equity Funds

Journal of Risk, Vol. 19, No. 6, 2017
Number of pages: 32 Posted: 04 Aug 2017
Axel Buchner
University of Passau
Downloads 1 (685,321)
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private equity, risk management, value-at-risk (VaR), cashflow-at-risk (CFaR), liquidity-adjusted value-at-risk (LVaR)

4.

The Systematic Risk of Private Equity

Number of pages: 55 Posted: 02 Apr 2014
Axel Buchner and Rüdiger Stucke
University of Passau and Warburg Pincus
Downloads 681 (37,134)
Citation 4

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private equity, venture capital, systematic risk, abnormal return

5.

The Alpha and Beta of Private Equity Investments

Number of pages: 58 Posted: 16 Jan 2015
Axel Buchner
University of Passau
Downloads 659 (38,718)

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private equity, venture capital, abnormal return, systematic risk

6.

Portfolio Optimization with Private Equity Funds

Number of pages: 61 Posted: 06 May 2013
Axel Buchner
University of Passau
Downloads 624 (41,707)

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Private equity funds, asset allocation, commitment strategy, liquidity

7.

The Betting Against Beta Anomaly: Fact or Fiction?

Number of pages: 16 Posted: 16 Dec 2015
Axel Buchner and Niklas Wagner
University of Passau and Passau University
Downloads 558 (48,285)
Citation 1

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Asset Pricing, Performance Measurement, Abnormal Return, Systematic Risk

8.

Does Risk Explain Persistence in Private Equity Performance?

Journal of Corporate Finance, Forthcoming
Number of pages: 55 Posted: 27 Apr 2015 Last Revised: 02 Jun 2016
University of Passau, Cranfield University - School of Management and SKEMA Business School
Downloads 358 (82,831)

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private equity; performance; venture capital; buyout; risk; persistence

9.

Rewarding Risk-Taking or Managerial Skill? The Case of Private Equity Fund Managers

Number of pages: 58 Posted: 24 Apr 2015
Axel Buchner and Niklas Wagner
University of Passau and Passau University
Downloads 347 (85,885)
Citation 1

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Private equity, venture capital, buyout funds, fund manager compensation, risk-taking incentives

10.

Equilibrium Liquidity Premia of Private Equity Funds

Number of pages: 51 Posted: 16 Jan 2015
Axel Buchner
University of Passau
Downloads 346 (86,186)

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Private equity, alternative investments, illiquidity

11.

How Much Can Lack of Marketability Affect Private Equity Fund Values?

Number of pages: 44 Posted: 16 Jan 2015
Axel Buchner
University of Passau
Downloads 328 (91,470)

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Private equity funds, marketability, option-pricing

12.

Portfolio Dynamics and Expected Returns Under Illiquidity

Number of pages: 51 Posted: 16 Jan 2015
Axel Buchner
University of Passau
Downloads 318 (94,637)

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Asset Pricing, Portfolio Dynamics, Illiquidity

13.

Risk-Adjusting the Returns of Private Equity Using the CAPM and Multi-Factor Extensions

Number of pages: 19 Posted: 17 Oct 2015
Axel Buchner
University of Passau
Downloads 276 (110,376)

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venture capital, Public Market Equivalent, CAPM, multi-factor models

14.
Downloads 249 (122,812)

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private equity, venture capital, abnormal returns, systematic risk, coskewness, generalized CAPM

15.

Cross-Border Venture Capital Investments: The Impact of Foreignness on Returns

Journal of International Business Studies, Vol. 49, Issue 5, 2017
Number of pages: 30 Posted: 13 Jun 2018
University of Passau, University of Manchester - Manchester Business School, University of Manchester - Manchester Business School, Division of Accounting Finance and Cranfield University - School of Management
Downloads 2 (640,469)
Citation 1
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venture capital, cross-border, return, IRR, PME, foreignness, distance