Publications

Educators

Fall 2017
Article

An Empirical Analysis of Investment Return Dispersion in Emerging Markets Private Equity

By: Josh Lerner and Mark Baker

The authors use transaction-level data to compare the dispersion of private equity (PE) returns in emerging markets (EMs) to the same in developed markets (DMs). They regress within-market absolute deviation from the mean on an EM indicator and controls. They find... View Details

Keywords: Private Equity; Emerging Markets; Investment Return; Analysis

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March 2018
Supplement

Hatch Startup Equity Valuation exercise for Instructor Use

By: Christopher Stanton and Shikhar Ghosh

2016
Chapter

Should Governments Demand Equity in Foreign-Owned Extractive Projects?

By: Louis T. Wells

November 2007
Article

Asset Fire Sales (and Purchases) in Equity Markets

By: Joshua Coval and Erik Stafford

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19 May 2020
News

U.S. Equity Markets Stubbornly Ignore the Doom Everywhere

Fast Answer

Private Equity - Screening for Portfolio Operations Roles

Using Baker Library databases, it is possible to screen for firms that currently employ people in portfolio operations or in an operations department. Capital IQ Select Screening > Companies from the top menu bar. Under the section Investment/Advisory... View Details

March 2025
Article

Do Public Financial Statements Influence Private Equity and Venture Capital Financing?

By: Brian K. Baik, Natalie Berfeld and Rodrigo S. Verdi

We study whether private firm public financial statements influence the probability of raising venture capital (VC) and private equity (PE) financing. In particular, we propose that private firms’ public financial statements can help the VC/PE search process by... View Details

Keywords: Business Economics; Search Costs; Accounting; Venture Capital; Governance; Private Equity; Financial Statements

SSRN

February 1998
Case

Smith Breeden Associates: The Equity Plus Fund (B)

Supplements the (A) case. View Details

Educators

March 2017
Teaching Note

Carmichael Roberts: To Create a Private Equity Firm?

By: Steven Rogers and Kenneth J. Cooper

Teaching Note for HBS No. 317-079. View Details

March 2016
Module Note

Venture Capital and Private Equity Simulation Administrators' Guide

By: Matthew Rhodes-Kropf and Nathaniel Burbank

January 1989 (Revised November 1989)
Supplement

Equity Capital for Industry and Cotag International (B)

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15 Jan 2014
News

Banks Cutting Costs to Get Return on Equity

20 Jun 2024

Take30 Impact Series: Diverse Alumni in Private Equity

Take 30 minutes out of your day to learn about how one alum is making an impact in their own way after HBS. We’ll touch on their experience as a student, and then “zoom” in on their career path and personal journey since graduating. On this episode, we’ll feature... View Details

04 May 2023
HBS Conference

Race, Gender & Equity at Work Research Symposium

July 2001
Technical Note

Technical Note on LBO Valuation (B): The Equity Cash Flow Method of Valuation using CAPM

By: Carliss Y. Baldwin

Explains the equity cash flow method of valuation as it applies to leveraged buyouts. Also explains how to implement the changing cost of equity method using the CAPM. View Details

Keywords: Leveraged Buyouts; Forecasting and Prediction; Cash Flow; Cost of Capital; Equity; Valuation

Educators

Article

Inflation and Taxes in a Growing Economy with Debt and Equity

By: M. Feldstein, Jerry R. Green and Eytan Sheshinski

Our tax system was designed for an economy with little or no inflation. The current paper shows that inflation causes capricious changes in the effective rate of tax on capital income and therefore in the real net rate of return that savers receive. This is not only a... View Details

Keywords: Taxation; Inflation and Deflation; Economy

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

SSRN