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Private Equity and the Innovation Strategies of Entrepreneurial Firms : Empirical Evidence from the Small Business Innovation Research Program
Link, Albert - 2014
There is great interest in evaluating the impact of private equity investments on innovation and economic growth …. However, there is no direct empirical evidence on the effects of such transactions on the innovation strategies of … Business Innovation Research (SBIR) program research awards. We find that SBIR firms attracting private equity investments are …
Persistent link: https://www.econbiz.de/10013065646
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Private Equity and Long-Run Investment : The Case of Innovation
Lerner, Josh - 2015
-term performance. We investigate 495 transactions with a focus on one form of long-term activities, namely investments in innovation as …
Persistent link: https://www.econbiz.de/10012749918
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A Survey of Venture Capital Research
Da Rin, Marco - 2014
examines the work on venture capital investments in companies, looking at issues of selection, contracting, post-investment …
Persistent link: https://www.econbiz.de/10013067246
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Can Investors Time Their Exposure to Private Equity?
Brown, Gregory W. - 2020
Private equity performance, both for buyouts and venture capital, has been highly cyclical: periods of high fundraising have been followed by periods of low performance. Despite this seemingly predictable variation, we find modest gains, at best, to pursuing realistic, investable strategies that...
Persistent link: https://www.econbiz.de/10012841419
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Pay for Performance from Future Fund Flows : The Case of Private Equity
Chung, Ji-Woong - 2010
Lifetime incomes of private equity general partners are affected by their current funds' performance through both carried interest profit sharing provisions, and also by the effect of the current fund's performance on general partners' abilities to raise capital for future funds. We present a...
Persistent link: https://www.econbiz.de/10013138086
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A Model of Private Equity Fund Compensation
Choi, Wonho Wilson - 2011
This paper analyzes the economics of the private equity fund compensation. We build a novel model to estimate the expected revenue to fund managers as a function of their investor contracts. In particular, we evaluate the present value of the fair-value test (FVT) carried interest scheme, which...
Persistent link: https://www.econbiz.de/10013118838
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Limited Partner Performance and the Maturing of the Private Equity Industry
Sensoy, Berk A. - 2013
access to funds that are likely to restrict access nor make better investment selections than other types of institutional …
Persistent link: https://www.econbiz.de/10013087047
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Do Private Equity Managers Earn Their Fees? Compensation, Ownership, and Cash Flow Performance
Robinson, David T. - 2014
We study the relation between compensation practices, incentives, and performance in private equity using new data that connect ownership structures, management contracts, and quarterly cash flows for a large sample of buyout and venture capital funds from 1984-2010. Although many critics of...
Persistent link: https://www.econbiz.de/10013066311
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Private Equity Performance : What Do We Know?
Harris, Robert S. - 2014
We present evidence on the performance of nearly 1400 U.S. private equity (buyout and venture capital) funds using a new research-quality dataset from Burgiss, sourced from over 200 institutional investors. Using detailed cash-flow data, we compare buyout and venture capital returns to the...
Persistent link: https://www.econbiz.de/10013066572
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Cyclicality, Performance Measurement, and Cash Flow Liquidity in Private Equity
Robinson, David T. - 2014
Public and private equity waves move together. Using quarterly cash-flow data for a large sample of venture capital and buyout funds from 1984-2010, we investigate the implications of this co-cyclicality for understanding private equity cash flows and performance. In the cross-section, varying...
Persistent link: https://www.econbiz.de/10013067387