Private equity financing is a primary source of funding for new ventures. However, forfeiting ownership and control may deter entrepreneurs. We show how recapitalizations are viable exit strategies allowing founders to maintain control. In a recapitalization, the private equity interest is...

A contentious debate is emerging over the regulatory response to the financial crisis. This paper takes advantage of a rare opportunity to empirically test sweeping short sale constraints. Specifically, I analyze 2008 trading restrictions which prohibited short selling in all U.S. financial...

Private equity shareholder agreements are essential to the successful relationship between venture capital (VC) providers and recipients and are structured to balance the interests and objectives of both parties. However, these contracts are complex and contain a broad range of design options....

Student-managed portfolios are now well-established experiential learning tools in business programs. A variety of factors, including behavioral differences in student decision making, are impossible to replicate in a simulated environment. The learning outcomes gained from the management of...

We analyze earnings credit rates (ECRs) within the U.S. banking system from 2002 until 2021. ECRs are a form of non-monetary interest used to offset commercial account fees and have not been widely studied due to data limitations. The Dodd-Frank Act led to the repeal of Regulation Q, which had...