Steven N.
Kaplan
Neubauer Family Distinguished Service
Professor of Entrepreneurship and Finance
University of Chicago Booth School of Business
5807 South Woodlawn Avenue, Chicago, IL 60637
E-Mail: skaplan@uchicago.edu
Phone: (773) 702-4513
Research Articles
“CEO
Personality and Firm Policies” (with Ian
Gow, David Larcker and
Anastasia Zakolyukina), June 2016.
“How Do
Venture Capitalists Make Decisions?” (with Paul Gompers, Will Gornall
and Ilya Strebulaev, December
2016.
“Are CEOs
Different? Characteristics of Top Managers.” with Morten Sorensen, February
2016.
“What Do
Different Commercial Data Sets Tell Us About Private Equity Performance?” with Greg Brown, Robert Harris,
Tim Jenkinson and David Robinson, December 2015.
“What Do Private
Equity Firms (Say They) Do?” with Paul Gompers and Vladimir Mukharlyamov, Journal
of Financial Economics, 2016.
“How Do
Private Equity Investments Perform Compared to Public Equity?” (with Robert S. Harris and Tim Jenkinson), Journal
of Investment Management, 2016.
“Private
Equity Performance: A Survey,” (with Berk Sensoy), Annual Review of Financial Economics,
December 2015.
“Financial
Intermediation in Private Equity: How
Well Do Funds of Funds Perform?” with Robert S. Harris, Tim Jenkinson and Ruediger Stucke), June 2015.
“Venture
Capital Data: Opportunities and
Challenges,” (with Josh Lerner), June
2015.
“Do Private
Equity Funds Game Returns?” with Greg Brown and
Oleg Gredil, 2014
“Has
Persistence Persisted in Private Equity? Evidence From Buyout and Venture
Capital Funds,” with Robert Harris, Tim Jenkinson
and Ruediger Stucke, 2014
“Private
Equity Performance: What Do We Know?”
with Robert Harris and Tim Jenkinson, Journal of Finance, 2014.
“It’s
the Market: The Broad-Based Rise in the Return to Top Talent,” with Josh Rauh, Journal of Economic Perspectives, 2013.
“Family, Education, and Sources of Wealth Among the Richest
Americans, 1982-2012,” with Josh Rauh, American Economic Review, 2013.
“The
Effects of Stock Lending on Security Prices: An Experiment” with Tobias Moskowitz and Berk Sensoy,
Journal of Finance, 2013.
“Executive
Compensation and Corporate Governance in the U.S.: Perceptions, Facts and Challenges,” Cato
Papers on Public Policy, 2012.
“Which
CEO Characteristics and Abilities Matter?” with
Mark Klebanov and Morten Sorensen, Journal of
Finance, 2012.
“ How has
CEO Turnover Changed? Increasingly Performance Sensitive
Boards and Increasingly Uneasy CEOs” , with
Bernadette Minton, International Review of Finance. 2012.
“ It Ain’t
Broke: The Past, Present, and Future of
Venture Capital” with Josh Lerner, Journal of Applied Corporate Finance,
2010.
“Wall
Street and Main Street: What Contributes to the Rise in the Highest
Incomes?” with Josh Rauh,
Review of Financial Studies, 2009.
“Should
Investors Bet on the Jockey or the Horse? Evidence from the Evolution of Firms
from Early Business Plans to Public Companies,” with Berk
Sensoy and Per Strömberg, Journal of Finance,
February 2009.
“Leveraged
Buyouts and Private Equity” with Per Strömberg, Journal of Economic
Perspectives, Winter 2009.
“Are
U.S. CEOs Overpaid?” , Academy of Management Perspectives, May 2008.
“How
Do Legal Differences and Learning Affect Financial Contracts?” , with Frederic Martel and Per Strömberg,
Journal of Financial Intermediation, 2007.
“Do
Mutual Funds Time Their Benchmarks?” , with Berk Sensoy, November 2005
"Private
Equity Performance: Returns, Persistence, and Capital Flows",
with Antoinette Schoar, Journal of Finance, August
2005.
"Characteristics,
Contracts, and Actions: Evidence From Venture Capitalist Analyses
", with Per Strömberg, Journal of Finance,
October 2004.
“What
is the Price of Hubris? Using Takeover Battles to Infer Overpayments and
Synergies,” with Pekka Hietala
and David T. Robinson, Financial Management, Autumn
2003.
"The
State of U.S. Corporate Governance: What’s Right and What’s Wrong?",
with Bengt Holmström, Journal of Applied Corporate Finance,
Spring 2003.
"Financial
Contracting Theory Meets the Real World: Evidence From Venture Capital
Contracts," with Per Strömberg. Review
of Economic Studies, April 2003.
"How well do venture capital databases reflect actual
investments?", with Berk
Sensoy and Per Strömberg,
September 2002.
"
Valuation and New Economy Firms", in Asset Price Bubbles, edited by
William Hunter, George Kaufman and Michael Pomerleano,
MIT Press, 2003.
" The Effects of Business-to-Business E-Commerce on Transaction Costs", with Luis Garicano. Journal of Industrial Economics, 2001.
"Corporate Governance and Merger Activity in the U.S", with Bengt Holmstrom.
Journal of Economic Perspectives, Spring 2001.
"A
framework for analyzing B2B e-commerce", with Luis Garicano
"B2B E-Commerce
Hubs: Towards a Taxonomy of Business Models," with Mohanbir
Sawhney. Harvard Business
Review, 2000.
"The
Emerging Landscape of Business to Business E-Commerce", with Mohanbir Sawhney. Business 2.0, 1999.
"How
Costly is Financial (not Economic) Distress? Evidence from Highly Leveraged
Transactions that Became Distressed," (with Gregor
Andrade), Journal of Finance, Volume 53, (October 1998), 1443-1494. (Lead Article). Awarded Smith Breeden prize for First
Prize Paper in 1998.
"A
Clinical Exploration of Value Creation and Destruction in Acquisitions:
Integration, Organization Design, and Internal Capital Markets," with
Mark Mitchell and Karen Wruck, in Mergers and Productivity, 1997, Steven
Kaplan, editor, National Bureau of Economic Research.
"The
Evolution of U.S. Corporate Governance: We are All Henry Kravis Now," Journal
of Private Equity, Fall,
1997, 7-14.
"Top
Executive Rewards and Firm Performance: A Comparison of Japan and the
U.S.," Journal
of Political Economy, Volume 102, No. 3, (June, 1994),
510-546.
"The
Value Maximizing Board," with Robert Gertner,
December, 1996.
Presentations
"Who
Becomes a CEO? Who Succeeds?",
2016
" Are U.S. Companies Too Short-Term Oriented?
Some Thoughts," 2015
“How
Bad Is U.S. Corporate Governance? / Are U.S. CEOs Overpaid?” 2015
"Private
Equity: Past, Present, and Future,"
2013
"Thoughts
on the Crisis, Bailouts and Stimulus," 2009
“Should
You Bet on the Jockey or the Horse? Or What Are Firms? Evolution from
Early Business Plan to Public Companies,” with Berk
Sensoy and Per Strömberg, 2008
Cases
“Project Brahms and BC Partners” 2015
“Zayo Group Exit,” 2015.
“Cabot
Microelectronics,” 2014.
“ZipFit,” 2013.
“IDFC Private
Equity and GMR Energy Limited – 2003,” 2007.
“SunGard
Data Systems,” 2005.
“Iron
Gate Technologies,” 2003.
“Platinum
Capital Partners,” 2003.
“Accel Partners,” 1999.
Op-Eds / Comments
"The
Real Story Behind Executive Pay" Foreign Affairs, May / June 2013.
"How
Many Jobs Did Romney Create at Bain Capital?" The American, January 2012.
“How
To Think About Private Equity” The American, January 2012.
“Romney
Honed the Right Skills in Private Equity” Bloomberg, December 2011.
"Persistence
is the Best Predictor of CEO Success" Bloomberg, October 2011.
“Shareholders
Are Giving CEOs the Right Pay” Bloomberg, June 2011.
The University of Chicago Booth School of Business ©2017