Publications

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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

01 Sep 2009
News

Faculty Books

Entrepreneurship and Venture Capital Have Failed — and What to Do about It by Josh Lerner (Princeton University Press) As governments worldwide seek to spur economic growth in... View Details

Keywords: Colleges, Universities, and Professional Schools; Educational Services; Publishing Industries (except Internet); Information

March 2020 (Revised February 2023)
Case

Performance Management at Afreximbank (A)

By: Robert S. Kaplan, Siko Sikochi and Josh Steimle

Based in Cairo, Afreximbank was founded in October 1993 as a specialized continental financial institution designed to address the low level of intra-African trade, the decline in financial flows to Africa, the worsening external debt situation of many African... View Details

Keywords: Performance Management; Balanced Scorecard; Performance Expectations; Performance Evaluation; Performance Improvement; Organizational Culture; Strategy; Banking Industry; Africa; Egypt

January 2022
Article

Investing Outside the Box: Evidence from Alternative Vehicles in Private Equity

By: Josh Lerner, Jason Mao, Antoinette Schoar and Nan R. Zhang

This paper uses previously unexplored custodial data to examine the use of alternative investment vehicles in private equity (PE) over four decades. We document a steep increase in the capital directed to alternative vehicles, with these vehicles approaching a 40%... View Details

Keywords: Alternative Investment Vehicles; Investment Funds; Private Equity; Venture Capital; Performance

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13 Dec 2016
First Look

December 13, 2016

forthcoming Journal of Investment Consulting Cloaked Trading By: Cohen, Lauren, Dong Lou, and Christopher J. Malloy Abstract—Using a novel, proprietary database of micro-level trading activities by asset managers, we show strong evidence... View Details

Keywords: Carmen Nobel

01 Jun 2006
News

Faculty Research Online

anything that moves to block innovation by competitors. But what does this mean for standard-setting organizations? In this Q&A, Professor Josh Lerner explains the challenges... View Details

Keywords: Colleges, Universities, and Professional Schools; Educational Services

2025
Working Paper

Private Equity and Workers: Modeling and Measuring Monopsony, Implicit Contracts, and Efficient Reallocation

By: Kyle Herkenhoff, Josh Lerner, Gordon M. Phillips, Francisca Rebelo and Benjamin Sampson

We measure the real effects of private equity buyouts on worker outcomes by building a new database that links transactions to matched employer-employee data in the United States. To guide our empirical analysis, we derive testable implications from three theories in... View Details

Keywords: Monopsony; Market Power; Productivity; Private Equity; Employment; Wages; Employees

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08 Oct 2013
First Look

First Look: October 8

differentiate "quality FDI" in several different ways. First, we look at the possibility that the effects of FDI differ by sector. Second, we differentiate FDI based on objective qualitative industry characteristics including... View Details

Keywords: Sean Silverthorne

May 1998
Teaching Note

Exxel Group: September 1995 TN ,The

Teaching Note for (9-297-068). View Details

Keywords: Buenos Aires; United States

May 1998
Teaching Note

European Association of Security Dealers TN, The

Keywords: Europe

April 1998
Teaching Note

GO Corporation TN

Teaching Note for (9-297-021). View Details

October 1996 (Revised November 1997)
Background Note

Venture Capital and Private Equity: Course Overview

Provides an overview of the Venture Capital and Private Equity modules. View Details

Keywords: Venture Capital; Private Equity

April 1995
Teaching Note

Repligen Corporation: January 1992 TN

Teaching Note for (9-294-082). View Details

November 1994 (Revised December 1995)
Case

Scripps Research Institute, The: November 1993 (Abridged)

In November 1993, Dr. Richard Lerner, president of the Scripps Research Institute, faces the challenge of maintaining his organization's financial and scientific vitality. A proposed cooperative venture with Sandoz has attracted considerable criticism. Meanwhile, a new... View Details

Keywords: Joint Ventures; Financing and Loans; Policy; Management; Organizational Change and Adaptation; Problems and Challenges; Research; Nonprofit Organizations

November 1994 (Revised January 2006)
Background Note

An Introduction to Patents and Trade Secrets

Provides an overview of patent and trade secret protection. Also discusses the legal processes through which intellectual property is protected and litigated. View Details

Keywords: Patents; Intellectual Property