Private Equity and Venture Capital Industry Performance in Brazil:<i>1990–2013</i>

MinArdi, Accioly FonsecA; KAnitz, Vinicius; FonsecA, Accioly

doi:10.3905/jpe.2014.2014.1.037

Cited by 12 publications

(11 citation statements)

References 13 publications

(16 reference statements)

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“…The large variety of atomic BECs that have been produced experimentally and the ability to engineer tailored potentials [2,3] as well as to control interactions [4] offer a plethora of research directions. A fascinating possibility is the creation of binary mixtures using different hyperfine levels ( 87 Rb [5][6][7]), different isotopes (e.g., 87 Rb -85 Rb [8], 168 Yb -174 Yb [9]), different elements (e.g., 87 Rb -41 K [10], 87 Rb -133 Cs [11,12], 87 Rb -84 Sr and 87 Rb -88 Sr [13], 87 Rb -39 K [14,15], and 87 Rb - 23 Na [16]) or even atoms with different statistics (e.g., 6 Li - 7 Li [17]). Experimentally, these mixtures have been used to explore such diverse issues as collective modes [7,17], pattern formation [18,19], phase separation [8,11,14,16], nonlinear dynamical excitations [20,21], the Kibble-Zurek mechanism [22], and the production of dipolar molecules [23].…”

Section: Introductionmentioning

confidence: 99%

Phase separation and dynamics of two-component Bose-Einstein condensates

et al. 2016

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The miscibility of two interacting quantum systems is an important testing ground for the understanding of complex quantum systems. Two-component Bose-Einstein condensates enable the investigation of this scenario in a particularly well controlled setting. In a homogeneous system, the transition between mixed and separated phases is fully characterized by a miscibility parameter based on the ratio of intra-to interspecies interaction strengths. Here we show, however, that this parameter is no longer the optimal one for trapped gases, for which the location of the phase boundary depends critically on atom numbers. We demonstrate how monitoring of damping rates and frequencies of dipole oscillations enables the experimental mapping of the phase diagram by numerical implementation of a fully self-consistent finite-temperature kinetic theory for binary condensates. The change in damping rate is explained in terms of surface oscillation in the immiscible regime, and counterflow instability in the miscible regime, with collisions becoming only important in the long time evolution.

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Section: Introductionmentioning

confidence: 99%

Phase separation and dynamics of two-component Bose-Einstein condensates

et al. 2016

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“…Therefore, the success of PE/VC investments depends on the characteristics of the funds, how the investments are structured and the management style of the investments. Minardi, Kanitz and Bassani (2014) investigate the Brazilian performance of private equity and venture capital between 1990 and 2013. The authors conclude that, although Brazilian PE and VC industries are young, players are slow to mature, with 72% of companies operating for 5 years or more.…”

Section: Literature Review and Hypotheses Develop-mentmentioning

confidence: 99%

The Impact of Private Equity and Venture Capital Funds on post-IPO Operational and Financial Performance in Brazilian invested companies

Sincerre

Sampaio

Famá

et al. 2019

BBR

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The present article seeks to analyze the legacy and its persistence over time in terms of financing and operational policies and financial performance, of companies invested by Private Equity and Venture Capital funds (PE/VC). The PE/VC industry is characterized by the function of identifying companies with large return potentials and that grow arithmetically -due to capital constraints -to provide adequate and necessary sources of capital and experience for exponential growth. In this study, we used four measures that relate to companies' financial policies and their persistence over time: i) cash & equivalents; ii) leverage; iii) Return on Assets (ROA); and iv) sales growth. The results suggest that PE / VC invested companies imply higher levels of cash & equivalents and are associated with a lower level of leverage during the first 5 years after the IPO. In addition, companies financed by PE/VC funds show higher profitability and higher sales growth compared to non-invested companies in the short term, i.e., in the first 3 years after the IPO.

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“…O mercado de fundos de investimentos em países emergentes tem atraído a atenção de investidores a nível mundial devido à rentabilidade proporcionada aos cotistas, às opções de diversificação de carteiras e ao crescimento econômico de seus mercados (BEKAERT; URIAS, 1996;RAMASAMY;YEUNG, 2003;HUIJ;POST, 2011;KLONOWSKI, 2011;KANITZ;BASSANI, 2014;LEMESHKO;REJNUŠ, 2015). Nesse sentido, o Brasil expandiu a visibilidade de sua indústria de fundos a partir de 1994, com a implantação do Plano Real, do controle da inflação e da inserção de políticas de investimentos (FONSECA et al, 2007;VARGA;WENGERT, 2011;BERGGRUN;LIZARZABURU, 2015).…”

Section: Introductionunclassified

Effects of Manager Characteristics on Portfolio Composition of Multimarket Funds

Malaquias

Maestri

2017

RUC

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RESUMOA formação das carteiras de fundos de investimentos está sujeita às diferentes características de risco dos ativos que as compõem e a escolha desses ativos pode ser influenciada pelas particularidades do gestor. Nesse contexto, o objetivo desta pesquisa foi analisar se algumas variáveis referentes ao gestor interferem na alocação de recursos nas carteiras dos fundos multimercados. A amostra estudada compreendeu 6.659 fundos multimercados brasileiros com 327.270 observações mensais no período de Setembro/2009 a Janeiro/2016. Para fins de análise de robustez, foi utilizada também uma sub-amostra, com o objetivo de eliminar um potencial viés de incubação. Os testes de hipóteses ocorreram por técnicas econométricas com dados em painel. Os resultados evidenciaram que a composição das carteiras sofre influência de características dos gestores, como experiência, quantidade de fundos administrados, localização do gestor e gestores que apresentam melhor performance que seus pares.

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Private Equity and Venture Capital Industry Performance in Brazil:1990–2013

Cited by 12 publications

References 13 publications

Phase separation and dynamics of two-component Bose-Einstein condensates

Phase separation and dynamics of two-component Bose-Einstein condensates

The Impact of Private Equity and Venture Capital Funds on post-IPO Operational and Financial Performance in Brazilian invested companies

Effects of Manager Characteristics on Portfolio Composition of Multimarket Funds

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