Private Equity and Industry Performance

Shai Bernstein, Josh Lerner, Morten Sørensen, Per Strömberg

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Abstrakt

The growth of the private equity industry has spurred concerns about its impact on the economy. This analysis looks across nations and industries to assess the impact of private equity on industry performance. We find that industries where private equity funds invest grow more quickly in terms of total production and employment and appear less exposed to aggregate shocks. Our robustness tests provide some evidence that is consistent with our effects being driven by our preferred channel.
OriginalsprogEngelsk
TidsskriftManagement Science
Vol/bind63
Udgave nummer4
Sider (fra-til)1198-1213
Antal sider16
ISSN0025-1909
DOI
StatusUdgivet - apr. 2017

Emneord

  • Private equity
  • Industry growth
  • Cross-country analysis
  • Production
  • Employment

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