Publications

Educators

October 2003
Teaching Note

Martin Smith: January 2002 (TN)

By: G. Felda Hardymon, Josh Lerner and Ann Leamon

Teaching Note to (9-298-076). View Details

December 2002 (Revised June 2003)
Case

Vignette: The Rebar Dilemma

By: G. Felda Hardymon, Josh Lerner and Ann Leamon

Martin Smith, a new associate at an LBO firm, must respond to a problem posed by his boss, based on an historical deal that suddenly came undone. After months of negotiation, his firm's plan to buy a bankrupt competitor of one of its portfolio companies and close it... View Details

Keywords: Leveraged Buyouts; Insolvency and Bankruptcy; Competition; Growth and Development Strategy; Business or Company Management

Educators

September 2001 (Revised July 2003)
Teaching Note

Adams Capital Management: March 1999 TN

By: G. Felda Hardymon, Josh Lerner and Ann Leamon

Teaching Note for (9-899-256). View Details

Keywords: Financial Services Industry

August 2001
Teaching Note

CDC Capital Partners TN

By: G. Felda Hardymon, Josh Lerner and Ann Leamon

Teaching Note for (9-801-333). View Details

Keywords: Financial Services Industry; United Kingdom

August 2001
Teaching Note

Apax Partners and Dialog Semiconductor: March 1998 TN

By: G. Felda Hardymon, Josh Lerner and Ann Leamon

Teaching Note for (9-201-044). View Details

Keywords: Financial Services Industry; Semiconductor Industry

16 Sep 2014
First Look

First Look: September 16

http://www.oxfordhandbooks.com/view/10.1093/oxfordhb/9780199694945.001.0001/oxfordhb-9780199694945-e-026 September 2014 Journal of Financial Economics The Disintermediation of Financial Markets: Direct Investing in Private Equity By: Fang, Lily H., Victoria Ivashina,... View Details

Keywords: Sean Silverthorne

January 2008
Article

Venture Capital Investment Cycles: The Impact of Public Markets

By: Paul Gompers, Anna Kovner, Josh Lerner and David Scharfstein

It is well documented that the venture capital industry is highly volatile and that much of this volatility is associated with shifting valuations and activity in public equity markets. This paper examines how changes in public market signals affected venture capital... View Details

Keywords: Market Cycles; Venture Capital; Investment; Experience and Expertise; Public Equity; Volatility; Financial Services Industry

Read Now

April 2005
Article

Entrepreneurial Spawning: Public Corporations and the Genesis of New Ventures, 1986-1999

By: Paul A. Gompers, Josh Lerner and David S. Scharfstein

Keywords: Entrepreneurship; Business Startups; Public Ownership

Read Now

January 2010
Article

Buy Local? The Geography of Successful Venture Capital Expansion

By: Henry Chen, Paul A. Gompers, Anna Kovner and Josh Lerner

We document geographic concentration by both venture capital firms and venture capital-financed companies in three metropolitan areas: San Francisco, Boston, and New York. We find that venture capital firms locate in regions with high success rates of venture... View Details

Keywords: Venture Capital; Expansion; Success; Capital; Geographic Location; Business Units; Corporate Accountability; Business Offices; Goals and Objectives; Mission and Purpose; Investment Funds; Corporate Governance; Boston; New York (state, US); San Francisco

20 Feb 2018
First Look

First Look at New Research and Ideas, February 20, 2018

Publisher's link: https://www.hbs.edu/faculty/Pages/item.aspx?num=53981 forthcoming Journal of Financial Economics Pay Now or Pay Later? The Economics Within the Private Equity Partnership By: Ivashina, Victoria, and Josh View Details

Keywords: Sean Silverthorne

12 Apr 2016
First Look

April 12, 2016

Ivashina, Victoria, and Josh Lerner Abstract—The economics of partnerships have been of enduring interest to economists, but many issues regarding intergenerational conflicts and their impact on the... View Details

Keywords: Sean Silverthorne

Forthcoming
Article

The Diffusion of New Technologies

By: Aakash Kalyani, Marcela Carvalho, Nicholas Bloom, Tarek Hassan, Josh Lerner and Ahmed Tahoun

We identify phrases associated with novel technologies using textual analysis of patents, job postings, and earnings calls, enabling us to identify four stylized facts on the diffusion of jobs relating to new technologies. First, the development of economically... View Details

Keywords: Technology; Geography; Innovation; R＆D; Technological Innovation; Research and Development; Employment; Geographic Location

01 Sep 2009
First Look

First Look: September 1

disclosure regulation (the U.K.), the analyst school-tie premium has remained large and significant over the entire sample period. Specialization and Success: Evidence from Venture Capital Authors:Paul A. Gompers, Anna Kovner, and Josh... View Details

Keywords: Martha Lagace

03 Apr 2012
First Look

First Look: April 3

goal of residency training. The Confederacy of Heterogeneous Software Organizations and Heterogeneous Developers: Field Experimental Evidence on Sorting and Worker Effort Authors:Kevin J. Boudreau and Karim R. Lakhani Publication:In The Rate and Direction of Inventive... View Details

Keywords: Carmen Nobel

14 Jun 2004
Research & Ideas

The Big Money for Big Projects

theories and developing new ones. Q: Professor Josh Lerner recently published an article ["Boom and Bust in the Venture Capital Industry and the Impact on Innovation," View Details

Keywords: by Ann Cullen; Financial Services

12 Apr 2011
First Look

First Look: April 12

sustainability reports. We conclude with thoughts about mandatory sustainability and integrated reporting. Download the paper: http://www.hbs.edu/research/pdf/11-100.pdf With a Little Help from My (Random) Friends: Success and Failure in Post-Business School... View Details

Keywords: Sean Silverthorne

Forthcoming
Article

The (Heterogenous) Economic Effects of Private Equity Buyouts

By: Steven J. Davis, John Haltiwanger, Kyle Handley, Ben Lipsius, Josh Lerner and Javier Miranda

The effects of private equity buyouts on employment, productivity, and job reallocation vary tremendously with macroeconomic and credit conditions, across private equity groups, and by type of buyout. We reach this conclusion by examining the most extensive... View Details

Keywords: Private Equity Buyouts; Impact; Private Equity; Economics; Employment; Performance Productivity; Wages

SSRN

December 2014
Article

Private Equity, Jobs, and Productivity

By: Steven J. Davis, John Haltiwanger, Kyle Handley, Ron Jarmin, Josh Lerner and Javier Miranda

Private equity critics claim that leveraged buyouts bring huge job losses. To investigate this claim, we construct and analyze a new dataset that covers U.S. private equity transactions from 1980 to 2005. We track 3,200 target firms and their 150,000 establishments... View Details

Keywords: Private Equity; Leveraged Buyouts; Performance Productivity; Jobs and Positions; United States