Uwe Walz

TL;DR: In this article, the authors show that significant systematic biases exist in the reporting of fund performance, and that these biases depend on the degree of accounting conservatism and the strength of the legal environment in a country, and on proxies for the degreeof information asymmetry between institutional investors and private equity fund managers.

TL;DR: This paper found that there are significant systematic biases in managers' reporting of fund performance and that these biases depend on the accounting and legal environment in a country, and on proxies for the degree of information asymmetry between institutional investors and PE fund managers.

TL;DR: In this paper, the authors study the interaction between exit decisions and contract design in venture capital finance and show that with convertible securities, the ex-ante agreed optimal exit policy can be implemented.

TL;DR: In this article, the authors analyze the impact of cross-country differences in legality, including legal origin and accounting standards, on the governance structure of investments in the VC industry: better laws facilitate faster deal screening and deal origination, a higher probability of syndication and a lower probability of potentially harmful co-investment, and facilitate investor board representation of the investor.

TL;DR: In this paper, the authors analyzed the impact of cross-country differences in legality, including legal origin and accounting standards, on the governance structure of investments in the VC industry, showing that better laws facilitate faster deal screening and deal origination, a higher probability of syndication and a lower probability of potentially harmful co-investment.