| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w21133 |
| 来源ID | Working Paper 21133 |
| What Do Private Equity Firms Say They Do? | |
| Paul Gompers; Steven N. Kaplan; Vladimir Mukharlyamov | |
| 发表日期 | 2015-05-04 |
| 出版年 | 2015 |
| 语种 | 英语 |
| 摘要 | We survey 79 private equity investors with combined AUM of over $750B about their practices in firm valuation, capital structure, governance, and value creation. Investors rely primarily on IRR and multiples to evaluate investments. Their LPs focus more on absolute performance. Capital structure choice is based equally on optimal trade-off and market timing considerations. PE investors anticipate adding value to portfolio companies, with a greater focus on increasing growth than on reducing costs. We also explore how the actions that PE managers say they take group into specific firm strategies and how those strategies are related to firm founder characteristics. |
| 主题 | Financial Economics ; Financial Institutions ; Corporate Finance |
| URL | https://www.nber.org/papers/w21133 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/578808 |
| 推荐引用方式 GB/T 7714 | Paul Gompers,Steven N. Kaplan,Vladimir Mukharlyamov. What Do Private Equity Firms Say They Do?. 2015. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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