Investors increasingly look for private equity managers to provide opportunities for co-investing outside the fund structure, thereby saving fees and carried interest payments. In this paper we use a large sample of buyout and venture capital co-investments to test how such deals compare with...

The persistence of returns is a critical issue for investors in their choice of private equity managers. In this paper we analyse buyout performance persistence in new ways, using a unique database containing cash-flow data on 13,523 portfolio company investments by 865 buyout funds. We focus on...

In this paper, I show that CEO power, which arises from differences in national culture, can weaken a firm's governance. Based on a hand-collected dataset with more than 5,000 forced and voluntary CEO transitions across 37 countries, I find that CEOs are less likely to be dismissed for bad...

In 2011, German legislators passed the latest reform to German Insolvency Law (ESUG). ESUG mandates that creditors of larger firms can exert more influence on the appointment of the insolvency administrator, resulting in a shift of power from shareholders to creditors. Based on...

Being subject to time and budget constraints, researchers have to decide whether to attend academic conferences, and if so, which conferences are associated with the best publication outcomes. Based on acknowledgment information obtained from footnotes of more than 3,000 research articles...