The past two decades have seen a rapid increase in Private Equity (PE) investment in
healthcare, a sector in which intensive government subsidy and market frictions could lead …

We study how private equity buyouts create value in higher education, a sector with opaque
product quality and intense government subsidy. With novel data on 88 private equity deals …

Historically, a key advantage of being a public firm was broader access to capital, from a
disperse group of shareholders. In recent years, such capital has increasingly become …

How does common ownership affect innovation? We study this question using project-level
data on pharmaceutical startups and their venture capital (VC) investors. We find that …

An extensive literature on venture capital has studied asymmetric information and agency
problems between investors and entrepreneurs, examining how separating entrepreneurs …

This chapter is both a primer on estimation methods for assessing risk and return in private
equity and a survey of the empirical literature. Most private equity investments are made by …

After initial investments, relationship financiers routinely observe interim information about
projects before continuing financing them. Meanwhile, entrepreneurs produce information …

This study reports on the current state-of-affairs in the funding of entrepreneurship and
innovations in China and provides a broad survey of academic findings on the subject. We …

We investigate the effect of pre-IPO investments by public market institutional investors
(institutions) on the exit of venture capitalists (VCs). Results indicate that institutions' pre-IPO …

This paper examines how the coordination of venture capital (VC) investors in their
syndicates, as measured by their geographic concentration, affects firm performance and ex …