Technological advances have changed our ability to acquire and save information, with far-reaching implications in legal discovery and evidence. In this paper, we analyze the interrelated effect of legal presumptions and discovery rules in incentivizing the voluntary adoption of private evidence...

Although private credit funds have rapidly grown into a standalone asset class over the last decade, little is known about the aggregate performance of these funds. To provide a first look at absolute and relative performance, we utilize the Burgiss database of 476 private credit funds with...

We study the reluctance of family firms to accept private equity (PE) investors and the impact of PE on family firm's performance. We analyze the productivity growth in a sample of 257 PE-backed family firms, 143 of which were run by the founding generation. We compare these firms with both...

We develop and test a theory of how organizations learn from performance feedback in the context of strategic decisions, where delayed outcomes result in performance feedback that is incomplete. In this context, firms facing a focal decision observe performance feedback for only a subset of...

The execution and enforcement of anti-dilution provisions rely theoretically on a corporate legal regime that is capable of accommodating the issuance of preferred shares. To date, no Chinese legislative document, judicial interpretation or court ruling has provided explicit guidance on how a...

We propose a new valuation method for private equity investments. First, we construct a cash-flow replicating portfolio for the private investment, applying Machine Learning techniques on cash-flows on various listed equity and fixed income instruments. The second step values the replicating...

By focusing on the private placements in Malaysia, the study examines the role of audit quality around the settlement period of private placement, which has been ignored in the previous studies. The finding reveals that the audit quality is an important variable to the price reaction. Using 142...

The importance of private fund investor due diligence in the investment allocation process, in capital formation, and in private fund litigation has reached unprecedented levels and is further increasing. To provide the industry with data, data trend analyses, and guidance on applicable legal...

In a continuing low-interest rate environment that stifles fixed income returns, pension funds are under increasing pressure to produce strong returns from other asset classes, including alternative assets like interests in hedge funds, private equity funds, and venture capital funds. As private...