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来源类型Working Paper
规范类型报告
DOI10.3386/w23626
来源IDWorking Paper 23626
Private Equity and Financial Fragility during the Crisis
Shai Bernstein; Josh Lerner; Filippo Mezzanotti
发表日期2017-07-31
出版年2017
语种英语
摘要Do private equity firms contribute to financial fragility during economic crises? We find that during the 2008 financial crisis, PE-backed companies increased investments relative to their peers, while also experiencing greater equity and debt inflows. The effects are stronger among financially constrained companies and those whose private equity investors had more resources at the onset of the crisis. PE-backed companies consequentially experienced higher asset growth and increased market share during the crisis.
主题Macroeconomics ; Business Cycles ; Financial Economics ; Financial Institutions
URLhttps://www.nber.org/papers/w23626
来源智库National Bureau of Economic Research (United States)
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资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/581300
推荐引用方式
GB/T 7714
Shai Bernstein,Josh Lerner,Filippo Mezzanotti. Private Equity and Financial Fragility during the Crisis. 2017.
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