Steven N. Kaplan

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

 

Presentations

“How Bad Is U.S. Corporate Governance? / Are U.S. CEOs Overpaid?”  2013

"Private Equity:  Past, Present, and Future," 2013

"Which CEO Characteristics and Abilities Matter?", with Mark Klebanov and Morten Sorensen, 2011

"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

Research Articles

“Do Private Equity Funds Game Returns?” with Greg Brown and Oleg Gredil, 2013

“Has Persistence Persisted in Private Equity? Evidence From Buyout and Venture Capital Funds,” with Robert Harris, Tim Jenkinson and Ruediger Stucke, 2013

It’s the Market: The Broad-Based Rise in the Return to Top Talent,” with Josh Rauh, Journal of Economic Perspectives, forthcoming.

“Private Equity Performance:  What Do We Know?” with Robert Harris and Tim Jenkinson,  Journal of Finance, forthcoming.

“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, forthcoming.

“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 SawhneyHarvard 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.

 

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 ©2013