It is more than 25 years since the authors of the Yale and Carnegie surveys studied how
firms seek to protect the rents from innovation. In this paper, we revisit that question using a …

We study the restructuring of the labor force after M&As by taking a comprehensive view that
analyzes targets, acquirers, and merged firms. We show that acquirers' establishments grow …

We survey the academic literature about the impact of private equity investments on the
broader economy. Private equity fund managers respond to high-powered incentives and …

A common point of differentiation across companies is public versus private status. Many
regulations are conditional on whether a company is publicly traded, and the ability of both …

We examine changes to the products of public target firms after LBO using a novel dataset of
firm products. We find that private equity funds cut target firms' new products after LBO …

We examine whether restrictions on worker mobility, meant to protect firms' trade secrets,
stimulate innovation. Utilizing an economically representative sample of public and private …

We examine whether restrictions on worker mobility stimulate firms to innovate by protecting
trade secrets. With a broad sample of private and public US firms, we find that when state …

Private equity investments are growing, as documented extensively elsewhere in this
volume. A major form of private equity is buyouts, also known as leveraged buyouts (LBOs) …