An Integrative Approach to the Determinants of Private Equity Fundraising

34 Pages Posted: 28 May 2004

See all articles by Marina Balboa

Marina Balboa

University of Alicante - Department of Financial Economics

José Martí

Universidad Complutense de Madrid - Department of Accounting and Finance

Date Written: December 2003

Abstract

This paper builds on previous papers about private equity fundraising in two ways. Firstly, a micro and macroeconomic theoretical base is developed to support the empirical model proposed. Secondly, new explanatory variables that are related to the private equity process itself are added, thus completing the set of variables, which were basically macroeconomic and environment-related variables, introduced in previous papers. Evidence is found of the positive and significant effect of lagged aggregated investments and divestments on new funds raised, together with gross domestic product growth and the evolution of gross domestic savings.

Keywords: Fundraising, private equity, imbalances, supply, demand

JEL Classification: G24, E44, C33

Suggested Citation

Balboa, Marina and Martí Pellón, José, An Integrative Approach to the Determinants of Private Equity Fundraising (December 2003). Available at SSRN: https://ssrn.com/abstract=493344 or http://dx.doi.org/10.2139/ssrn.493344

Marina Balboa (Contact Author)

University of Alicante - Department of Financial Economics ( email )

Ctra. S. Vicente s/n
03690-S. Vicente del Raspeig
Alicante, San Vicente del Raspeig - Alicante 03690
Spain
+34 96 590 3400 Ext. 3135 (Phone)
+34 96 590 3621 (Fax)

José Martí Pellón

Universidad Complutense de Madrid - Department of Accounting and Finance ( email )

Carretera de Humera s/n
Madrid 28223, Madrid 28223
Spain
+ 3491 3942310 (Phone)
+ 34 91 3942534 (Fax)

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