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  • April 2024
  • Article

Fee Variation in Private Equity

By: Juliane Begenau and Emil N. Siriwardane
We study how investment fees vary within private-capital funds. Net-of-fee return clustering suggests that most funds have two tiers of fees, and we decompose differences across tiers into both management and performance-based fees. Managers of venture capital funds... View Details
Keywords: Pension Funds; Fee Dispersion; Search And Negotiation Frictions; Private Equity; Investment Funds
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  • 2020
  • Working Paper

How Do Private Equity Fees Vary Across Public Pensions?

By: Juliane Begenau and Emil Siriwardane
We study how investment fees vary within private-capital funds. Net-of-fee return clustering suggests that most funds have two tiers of fees, and we decompose differences across tiers into both management and performance-based fees. Managers of venture capital funds... View Details
Keywords: Pension Funds; Fee Dispersion; Search And Negotiation Frictions; Private Equity; Investment Funds
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  • Web

Technology & Innovation - Faculty & Research

perpetual licensing, model. However, in 2023, the company began piloting a recurring subscription fee model to ensure steadier revenue. To support the new pricing structure, TagHive enhanced its software with artificial intelligence and... View Details
  • 09 Jun 2003
  • Research & Ideas

The Challenge of the Multi-site Nonprofit

Why is it more difficult for nonprofit organizations than, say, retail chains, to run efficient multi-site operations? A recent Harvard Business Review story concluded that nonprofits waste $100 billion a year through inefficient fundraising and View Details
Keywords: by Sean Silverthorne
  • 24 Feb 2009
  • First Look

First Look: February 24, 2009

efficiency benefits, rebates, and treatment in case of loss or fraud. Purchase this case: http://www.hbsp.harvard.edu/b01/en/common/item_detail.jhtml?id=909006 Distribution at American Airlines (A) Harvard Business School Case 909-035 American Airlines sought to reduce... View Details
Keywords: Martha Lagace
  • 30 Jan 2017
  • Research & Ideas

Vanguard, Trian And The Problem With 'Passive' Index Funds

corporate governance. “When you think of the factors that have made capitalism such a successful model for economic growth, the separation between management and ownership, with the ability to disperse ownership and risk over many... View Details
Keywords: by Michael Blanding; Financial Services
  • 05 Jan 2010
  • First Look

First Look: January 5

founding conditions—branching policy, modernization, and political culture—influenced banks' development of capabilities to manage dispersed branches, and these capabilities subsequently led to variation in banks' propensity to engage in... View Details
Keywords: Martha Lagace
  • 22 Aug 2012
  • Research & Ideas

Advertising: It’s Not ‘Mad Men’ Anymore

to increase significantly, with income from fees and other direct compensations growing from 23 percent in 1987 to 65 percent by 2007. What happened? The paper presents an economic model of an agency's decision to unbundle its services... View Details
Keywords: by Michael Blanding; Advertising
  • 16 Jun 2009
  • First Look

First Look: June 16

it's benefiting them. Enterprise 2.0 makes clear that the new technologies are good for much more than just socializing—when properly applied, they help businesses solve pressing problems, capture dispersed and fast-changing knowledge,... View Details
Keywords: Martha Lagace
  • 25 Sep 2018
  • First Look

New Research and Ideas, September 25, 2018

Download working paper: https://www.hbs.edu/faculty/Pages/item.aspx?num=55022 Who Should Select New Employees in Geographically Dispersed Organizations: Headquarters or the Unit Manager? Consequences of Centralizing Hiring at a Retail... View Details
Keywords: Dina Gerdeman
  • 31 Aug 2010
  • First Look

First Look: August 31

interactions reduce inefficiencies from information asymmetry. Second, banks price loans to cross-sell other fee business. These effects are additive. A one standard deviation increase in both bank relationship strength and cross-selling... View Details
Keywords: Sean Silverthorne
  • 02 Aug 2016
  • First Look

August 2, 2016

and (ii) complete stability in the dispersion of attention across sites and in the intensity of attention within sites. We illustrate how this finding is difficult to reconcile with standard models of optimal attention allocation and... View Details
Keywords: Sean Silverthorne
  • 10 Jul 2000
  • Research & Ideas

Cable TV: From Community Antennas to Wired Cities

standards were met. In 1972, the FCC also limited the franchise fees that municipalities could charge cable operators to three percent of revenue, and fixed the length of franchise agreements at fifteen years, reducing uncertainty for... View Details
Keywords: by Thomas R. Eisenmann; Media & Broadcasting; Consumer Products; Entertainment & Recreation