Much of empirical corporate finance focuses on sources of the demand for various forms of
capital, not the supply. Recently, this has changed. Supply effects of equity and credit …

This article analyzes the economics of the private equity industry using a novel model and
dataset. We obtain data from a large investor in private equity funds, with detailed records on …

Using deal-level data from transactions initiated by large private equity houses, we find that
the abnormal performance of deals is positive on average, after controlling for leverage and …

We survey 79 private equity (PE) investors with combined assets under management of
more than $750 billion about their practices in firm valuation, capital structure, governance …

This paper examines the motivations for public equity offers, using a sample of 17,226 initial
public offerings and 13,142 seasoned equity offerings from 38 countries between 1990 and …

We survey the literature on private equity performance, focusing on venture capital and
buyout funds rather than on portfolio companies. We describe recent findings on …

Private equity funds pay particular attention to capital structure when executing leveraged
buyouts, creating an interesting setting for examining capital structure theories. Using a …

We model the impact of public and private ownership structures on firms' incentives to invest
in innovative projects. We show that it is optimal to go public when exploiting existing ideas …

We study the liquidity properties of private equity cash flows using data from 837 buyout and
venture capital funds from 1984 to 2010. Most cash flow variation at a point in time is …

We study the relations between management contract terms and performance in private
equity using new data for 837 funds from 1984–2010. We find no evidence that higher fees …