Josh Lerner is at Harvard University and National Bureau of Economic Research. Antoinette Schoar is at Massachusetts Institute of Technology, CEPR and NBER. Wan Wongsunwai is at Harvard University. We thank Nick Lau and Brian Zingale for research assistance. Paul Gompers, John Hand, Thomas Hellmann, Dirk Jenter, Steven Kaplan, Per Stromberg, and numerous practitioners provided helpful comments. We also thank seminar participants at Harvard University, London Business School, the University of North Carolina, and the University of Wisconsin for many helpful comments. Harvard Business School's Division of Research provided financial support. All errors are our own.
Smart Institutions, Foolish Choices: The Limited Partner Performance Puzzle
Version of Record online: 20 MAR 2007
© 2007 the American Finance Association
The Journal of Finance
Volume 62, Issue 2, pages 731–764, April 2007
How to Cite
LERNER, J., SCHOAR, A. and WONGSUNWAI, W. (2007), Smart Institutions, Foolish Choices: The Limited Partner Performance Puzzle. The Journal of Finance, 62: 731–764. doi: 10.1111/j.1540-6261.2007.01222.x
- Issue online: 20 MAR 2007
- Version of Record online: 20 MAR 2007
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