| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP11075 |
| DP11075 Private Equity?s Unintended Dark Side: On the Economic Consequences of Excessive Delistings | |
| Alexander Ljungqvist; Lars Persson; Joacim Tåg | |
| 发表日期 | 2016-01-31 |
| 出版年 | 2016 |
| 语种 | 英语 |
| 摘要 | Over the past two decades, private equity has contributed to a shrinking of the U.S. stock market. We develop a political economy model of private equity activity to study the wider economic consequences of this trend. We show that private and social incentives to delist firms from the stock market are not always aligned. Private equity firms could inadvertently impose an externality on the economy by reducing citizen-investors? exposure to corporate profits and thus undermining popular support for business-friendly policies. This can lead to long-term reductions in aggregate investment, productivity, and employment. |
| 主题 | Financial Economics ; Industrial Organization |
| 关键词 | Delistings investment Political economy Private equity Productivity stock market |
| URL | https://cepr.org/publications/dp11075 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/539904 |
| 推荐引用方式 GB/T 7714 | Alexander Ljungqvist,Lars Persson,Joacim Tåg. DP11075 Private Equity?s Unintended Dark Side: On the Economic Consequences of Excessive Delistings. 2016. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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