Josh Lerner is with Harvard University and National Bureau of Economic Research. Morten Sorensen is with Columbia University, NBER, and SIFR. Per Strömberg is at Stockholm School of Economics, SIFR and CEPR. We thank Geraldine Kim, Jodi Krakower, Sanjey Sivanesan, and especially Sarah Woolverton for assistance with this project. The World Economic Forum and Harvard Business School's Division of Research provided financial support for this research. We are grateful for helpful comments from participants at the American Economic Association, European Finance Association, NBER Summer Institute, and Western Finance Association meetings, the World Economic Forum “Global Economic Impact of Private Equity” project, and various seminars, especially Bronwyn Hall, Laura Lindsey, Paul Oyer, Mark Schankerman, and John van Reenen. Many thanks also to Campbell Harvey (the Editor) and two anonymous referees, whose comments greatly improved the paper. All errors and omissions are our own.
Private Equity and Long-Run Investment: The Case of Innovation
Version of Record online: 21 MAR 2011
© 2011 the American Finance Association
The Journal of Finance
Volume 66, Issue 2, pages 445–477, April 2011
How to Cite
LERNER, J., SORENSEN, M. and STRÖMBERG, P. (2011), Private Equity and Long-Run Investment: The Case of Innovation. The Journal of Finance, 66: 445–477. doi: 10.1111/j.1540-6261.2010.01639.x
- Issue online: 21 MAR 2011
- Version of Record online: 21 MAR 2011
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