Private Equity and Industry Performance

Shai Bernstein, Josh Lerner, Morten Sørensen, Per Strömberg

Research output: Contribution to journalJournal articleResearchpeer-review

2206 Downloads (Pure)


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.
Original languageEnglish
JournalManagement Science
Issue number4
Pages (from-to)1198-1213
Number of pages16
Publication statusPublished - Apr 2017


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

Cite this