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...

Given budgetary and time constraints as well as climate concerns, researchers need to decide on which academic conferences to attend. As a basis for decision-making, we track the publication status of 6,805 research articles presented at 87 finance conferences between 2011 and 2015. We then rank...

This paper investigates the relationship between leverage and returns in private equity buyout transactions. In contrast to the predictions of traditional capital structure theory, we find that transactions financed with large amounts of debt are associated higher transaction prices and lower...

Understanding value creation at the transaction level is at the heart of explaining private equity (PE) returns. Taking advantage of a proprietary sample of 2,029 international buyout deals executed between 1984 and 2013 we provide detailed evidence on financial, market and operational value...

Private equity (PE) firms increasingly drift toward investing in software companies. In this paper, we empirically examine this trend and compare software drifts to general style drifts. We use an unbalanced panel of more than 7,000 PE firms that made investments between 1985 and 2020. Our...