Krohmer, Philipp; Lauterbach, Rainer; Calanog, Victor - In: Journal of Banking & Finance 33 (2009) 9, pp. 1597-1609
Previous papers that examined investment decisions by private equity funds are divided on whether staging has a positive or negative effect on returns. We believe these opposing views can be reconciled by studying when staging is used during the life of the investment relationship: We find that...