臺灣博碩士論文加值系統

本研究從有限合夥人的觀點，觀察公共養老基金的加入對私募股權（PE）公司第二檔基金募資的影響。基於有限合夥人多半為機構投資人，具有監管審查與專業能力參與私募股權的公司治理。我們期望透過上述的有限合夥人行為特性，會提升私募股權的品質，進而對潛在投資者提供正面信號，以利提高後續募資成功率。

Using the perspective of a limited partner, this study examines the impact of public pension funds on the follow-on financing of initial private equity (PE) companies. Based on the supervision and profession of limited partners, we expect through LPs actions to improve the quality of private equity and provide signals to potential investors to increase the success rate of follow-on fundraising. However, this paper doesn’t provide evidence of the link between public pension funds and subsequent fundraising activities to initial private equity companies.

Table of Contents

1. Introduction 1
1.1 Background 1
1.2 Research objectives 2
1.3 Overview 3
2. Literature review 3
3. Data and Variables 6
3.1 Data 6
3.2 Model 6
3.3 Fundraising 7
3.4 Limited partners 7
3.5 Fund size 8
3.6 Performance 8
3.7 Dry powder 9
3.8 Specialization 9
3.9 Boom period 10
3.10 Active investments 10
4. Empirical Analysis 11
4.1 Descriptive Statistics 11
4.2 Correlation Analysis 12
4.3 Regression Analysis 15
5. Conclusion 17
Appendix 18
Reference 19

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