Economics of Leveraged Buyouts: Theory and Evidence from the UK Private Equity Industry

Working Papers

Empirical analysis of a sample of companies with private equity (PE) ownership in the UK shows that PE firms act as deep-pocket investors for their portfolio companies, rescuing them if they fall in financial distress.Read More

Does Private Equity Ownership Make Firms Cleaner? The Role Of Environmental Liability Risks

Working Papers

As VC firms have an acute interest in high-tech companies, they potentially bear substantial risk of patent litigation. In this project, we aim at looking into the following questions: how do ex-ante and ex-post patent litigation risks affect VC firms’ investment strategies and how those risks is propagated among all portfolio companies they have invested?Read More

Organizational Change and the Dynamics of Innovation: Formal R&D Structure and Intrafirm Inventor Networks

Published Research

Prior research has argued and shown that firms with centralized R&D produce broader innovations relative to decentralized firms, but the organizational mechanisms underlying this relationship are underexplored. This gap limits our understanding of whether and how formal R&D structure can be used as a lever to influence research outcomes.Read More

In the Shadow of the Valley: Private Equity Firms’ Increased Prominence in High-Tech Acquisitions

Funded Research Proposal

Why and how do private equity (PE) firms engage in technology acquisitions, and how do they create and capture value in these transactions? Observational data shows initial evidence that not only are PE firms engaging in an increasing number of technology buyouts, they are also seemingly behaving in distinct ways from both corporate acquirers, as well as PE firms in industries other than high-tech.Read More

The Influence of Private Equity Experience on Corporate Transactions

Funded Research Proposal

This project considers whether CEOs and other top managers whose professional backgrounds are in private equity undertake different and/or more successful acquisitions and divestitures than CEOs and other top managers who do not have professional backgrounds in private equity.Read More

Role of prior relationships between syndication partners on sequential decision making

Funded Research Proposal

Current research has established a number of factors, both at the individual and organizational levels, which can explain firms’ resistance in terminating investments despite negative feedback. Most of this research focuses on intra-organizational investments.Read More