Books
An Advanced Introduction to Private Equity, with Paul Gompers, Edward Elgar, 2022.
Articles
“A Survey of Private Debt Funds,” with Joern Block, Young Soo Jang and Anna Schulze, 2023.
“The Market for CEOs: Evidence from Private Equity,” with Paul Gompers and Vladimir Mukharlyamov, January 2023.
“Has Persistence Persisted in Private Equity? Evidence From Buyout and Venture Capital Funds”with Robert Harris, Tim Jenkinson and Ruediger Stucke, 2022.
“Private Equity and COVID-19,” with Paul Gompers and Vladimir Mukharlyamov, Journal of Financial Intermediation, 2022.
“What Is CEO Overconfidence? Evidence from Executive Assessments,” (with Morten Sørensen and Anastasia A. Zakolyukina), Journal of Financial Economics, 2021.
“Venture Capitalists and COVID-19,” with Paul Gompers, Will Gornall and Ilya Strebulaev, Journal of Financial and Quantitative Analysis, 2021.
“Are CEOs Different? Characteristics of Top Managers.” with Morten Sorensen, Journal of Finance, 2021.
Can Investors Time Their Exposure to Private Equity?” (with Gregory W. Brown, Robert S. Harris, Wendy Hu, Tim Jenkinson and David Robinson), Journal of Financial Economics, 2021.
“How Do Venture Capitalists Make Decisions?” (with Paul Gompers, Will Gornall and Ilya Strebulaev), Journal of Financial Economics, 2020.
“Have Private Equity Returns Really Declined?” (with Gregory W. Brown), Journal of Private Equity, 2019.
“Do Private Equity Funds Manipulate Returns?” with Greg Brown and Oleg Gredil, Journal of Financial Economics, 2019.
“Financial Intermediation in Private Equity: How Well Do Funds of Funds Perform?” with Robert S. Harris, Tim Jenkinson and Ruediger Stucke), Journal of Financial Economics, 2018.
“CEO Personality and Firm Policies” (with Ian Gow, David Larcker and Anastasia Zakolyukina), June 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.
“Venture Capital Data: Opportunities and Challenges,” (with Josh Lerner), June 2015.
“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.
Cases
“Misfits Market Series B,” 2022.
“Misfits Market Series C,” 2022.
"Meesho," 2021.
“INCE Capital Partners and Nice Tuan,” 2020.
“Backlot Cars,” 2019.
“CiticPE and 3SBio,” 2018
“Columbus Manufacturing and Arbor Investments,” 2018
“Netsuite and Oracle,” 2018
“Valor and Tesla Motors” 2017
“ExplORer Surgical,” 2017
“Excellere Partners III” 2016
“Project Brahms and BC Partners” 2015
“Zayo Group Exit,” 2015.
“Cabot Microelectronics,” 2014.
“ZipFit,” 2013.
“Silver Lake Partners, Nasdaq and Instinet,” 2011.
“Alta Partners and Vertiflex,” 2009.
“IDFC Private Equity and GMR Energy Limited – 2003,” 2007.
“SunGard Data Systems,” 2005.
“Iron Gate Technologies,” 2003.
“Platinum Capital Partners,” 2003.
“Accel Partners,” 1999.
“Cinven and Tiller Foodservices,” 1998.
"Horizon Communications (A) and (B),” 1997.
“Paramount Communications, Inc. ‑‑ 1994,” 1996.
“Paramount Communications, Inc. ‑‑ 1993,” 1996.
“Visible Interactive (A) and (B),” 1996.