Private Equity and Industry Performance

Shai Bernstein (), Josh Lerner, Morten Sorensen () and Per Strömberg ()
Additional contact information
Shai Bernstein: Stanford University, Stanford, California 94305; and National Bureau of Economic Research, Cambridge, Massachusetts 02138
Morten Sorensen: Copenhagen Business School, 2000 Frederiksberg, Denmark; Columbia Business School, New York, New York 10027; and Centre for Economic Policy Research, London EC1V 0DX, United Kingdom
Per Strömberg: Copenhagen Business School, 2000 Frederiksberg, Denmark; Columbia Business School, New York, New York 10027; and Centre for Economic Policy Research, London EC1V 0DX, United Kingdom

Management Science, 2017, vol. 63, issue 4, 1198-1213

Abstract: 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.

Keywords: private equity; industry growth; cross-country analysis; production; employment (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (14)

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https://doi.org/10.1287/mnsc.2015.2404 (application/pdf)

Related works:
Working Paper: Private Equity and Industry Performance (2010)
Working Paper: Private Equity and Industry Performance (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:inm:ormnsc:v:63:y:2017:i:4:p:1198-1213

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