Publications

January 2007 (Revised June 2007)
Background Note

Technology Transfer at U.S. Universities

By: Richard G. Hamermesh, Josh Lerner and David Kiron

Technology transfer from U.S. universities to industry has increased dramatically in the last 25 years. Reviews the history of technology transfer with particular emphasis on the Bayh-Dole Act of 1980. It then examines how universities responded to Bayh-Dole, the... View Details

Keywords: Higher Education; Information Technology; Laws and Statutes; Education Industry; Technology Industry; United States

February 2006 (Revised August 2006)
Case

Christo and Jeanne-Claude: The Art of the Entrepreneur

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

Christo and Jeanne-Claude, the artists who created The Gates in New York City in 2005, are trying to decide how best to finance their next project. Over the River, a project to drape sections of the Arkansas River with translucent fabric is a very different enterprise... View Details

Keywords: Private Equity; Arts; Fine Arts Industry; Arkansas

August 2004
Teaching Note

Gold Hill Venture Lending (TN)

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

Teaching Note to (9-804-083). View Details

Keywords: Financial Services Industry

August 2004
Teaching Note

Grove Street Advisors (TN)

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

Teaching Note to (9-804-050). View Details

February 2003 (Revised March 2011)
Background Note

Between a Rock and a Hard Place: Valuation and Distribution in Private Equity

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

Introduces the issues attendant to valuing privately held portfolios and distributing thinly traded stock. Although they have existed since the beginning of the formal venture capital industry, they have received increasing amounts of attention as the money invested in... View Details

Keywords: Venture Capital; Private Equity; Stocks; Investment Portfolio; Valuation; Financial Services Industry

August 2001
Teaching Note

Venture Capital Case Vignettes TN

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

Teaching Note for (9-801-408). View Details

Keywords: Financial Services Industry

August 2001
Teaching Note

Columbia Capital Corporation: Summer 1998 TN

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

Teaching Note for (9-899-255). View Details

Keywords: Financial Services Industry

August 2001
Teaching Note

CMGI: Organizational and Market Innovation TN

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

Teaching Note for (9-200-064). View Details

Keywords: Web Services Industry

August 2001
Teaching Note

University Technology Ventures: October 2000 TN

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

Teaching Note for (9-201-043). View Details

Keywords: Financial Services Industry

July 2017
Article

Intellectual Property Rights Protection, Ownership, and Innovation: Evidence from China

By: Lily Fang, Josh Lerner and Chaopeng Wu

Using a difference-in-difference approach, we study how intellectual property right (IPR) protection affects innovation in China in the years around the privatizations of state-owned enterprises (SOEs). Innovation increases after SOE privatizations, and this increase... View Details

Keywords: Patents; Privatization; State Ownership; Trademarks; Copyright; Innovation and Invention; China

Find at Harvard

2013
Working Paper

Combining Banking with Private Equity Investing

By: Lily Fang, Victoria Ivashina and Josh Lerner

Bank-affiliated private equity groups account for 30% of all private equity investments. Their market share is highest during peaks of the private equity market, when the parent banks arrange more debt financing for in-house transactions yet have the lowest exposure to... View Details

Keywords: Private Equity; Banks and Banking; Banking Industry; Financial Services Industry

Find at Harvard

February 2013
Article

Digitization, Innovation, and Copyright: What Is the Agenda?

By: Shane Greenstein, Josh Lerner and Scott Stern

This essay discusses the need for research on the consequences of digitization, as well as the impact of alternative policies governing the creation and use of digital information. This agenda focuses on the development of research to investigate the economics of... View Details

Keywords: Information Technology; Research; Copyright; Information Management; Innovation and Invention

Find at Harvard

March 2008 (Revised May 2008)
Case

The Blackstone Group's IPO

By: Felda Hardymon, Josh Lerner and Ann Leamon

Steven Schwarzman, Chairman of the Blackstone Group, has just learned that an investment group associated with the government of China wants to buy the majority of Blackstone's leveraged IPO. As he considers how to respond to this offer, Schwarzman reviews the firm's... View Details

Keywords: Private Equity; Financial Liquidity; Initial Public Offering; Investment; Ownership Stake; Business and Stakeholder Relations

February 2008 (Revised May 2008)
Case

Tad O'Malley: The Investment Conundrum

By: Felda Hardymon, Josh Lerner and Ann Leamon

Tad O'Malley has just started as an associate with Empire Investment Group. He must evaluate three investment opportunities facing the big leveraged buyout firm. All are global, but each pertains to different offices and each deal has different strengths and... View Details

Keywords: Leveraged Buyouts; Decision Choices and Conditions; Private Equity; Investment; Strength and Weakness; Negotiation Deal; Personal Development and Career

January 2008
Teaching Note

Brazos Partners and Cheddar's Inc. (TN)

By: Felda Hardymon, Josh Lerner and Ann Leamon

Teaching Note for [806069]. View Details

2005
Other Unpublished Work

Institutions, Capital Constraints and Entrepreneurial Firm Dynamics: Evidence from Europe

By: Mihir Desai, Paul Gompers and Josh Lerner

Keywords: Corporate Entrepreneurship; Capital; Europe

SSRN

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

August 2011 (Revised September 2011)
Background Note

U.S. Universities and Technology Transfer

By: Richard G. Hamermesh, Josh Lerner and Phillip Andrews

Technology transfer from U.S. universities to industry has increased dramatically in the last 25 years. Reviews the history of technology transfer with particular emphasis on the Bayh-Dole Act of 1980. It then examines how universities responded to Bayh-Dole, the... View Details

Keywords: Higher Education; Information Technology; Laws and Statutes; Education Industry; Technology Industry; United States