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The illiquidity puzzle: theory and evidence from private equity Author info | Abstract | Publisher info | Download info | Related research | Statistics Lerner, Josh
Schoar, Antoinette
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Article provided by Elsevier in its journal Journal of Financial Economics .
Volume (Year): 72 (2004)
Issue (Month): 1 (April)
Pages: 3-40
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Handle: RePEc:eee:jfinec:v:72:y:2004:i:1:p:3-40Contact details of provider: Web page: http://www.elsevier.com/locate/inca/505576
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Paper Lerner, Joshua & Schoar, Antoinette, 2003.
"The Illiquidity Puzzle: Theory and Evidence from Private Equity ,"
Working papers
4378-02, Massachusetts Institute of Technology (MIT), Sloan School of Management.
[Downloadable!] Josh Lerner & Antoinetter Schoar, 2002.
"The Illiquidity Puzzle: Theory and Evidence from Private Equity ,"
NBER Working Papers
9146, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted) References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.: Gompers, Paul & Lerner, Josh, 1996.
"The Use of Covenants: An Empirical Analysis of Venture Partnership Agreements ,"
Journal of Law & Economics ,
University of Chicago Press, vol. 39(2), pages 463-98, October.
Bhide, Amar, 1993.
"The hidden costs of stock market liquidity ,"
Journal of Financial Economics ,
Elsevier, vol. 34(1), pages 31-51, August.
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Holmstrom, Bengt & Tirole, Jean, 1993.
"Market Liquidity and Performance Monitoring ,"
Journal of Political Economy ,
University of Chicago Press, vol. 101(4), pages 678-709, August.
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Gompers, Paul & Lerner, Josh, 1999.
"An analysis of compensation in the U.S. venture capital partnership1 ,"
Journal of Financial Economics ,
Elsevier, vol. 51(1), pages 3-44, January.
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David S. Scharfstein & Jeremy C. Stein, 2000.
"The Dark Side of Internal Capital Markets: Divisional Rent-Seeking and Inefficient Investment ,"
Journal of Finance ,
American Finance Association, vol. 55(6), pages 2537-2564, December.
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Other versions: Pittman, R., 1990.
"Specific Investments, Contracts, And Opportunism: The Evolution Of Railroad Sidetrack Agreements ,"
Papers
90-6, U.S. Department of Justice - Antitrust Division.
Other versions: Shleifer, Andrei & Vishny, Robert W, 1986.
"Large Shareholders and Corporate Control ,"
Journal of Political Economy ,
University of Chicago Press, vol. 94(3), pages 461-88, June.
[Downloadable!] (restricted)
Full
references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
Zwart, G.J. de & Frieser, B. & Dijk, D.J.C. van, 2007.
"A Recommitment Strategy for Long Term Private Equity Fund Investors ,"
Research Paper
ERS-2007-097-F&A Revision, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus Uni.
[Downloadable!]
Arnoud W.A. Boot & Radhakrishnan Gopalan & Anjan V. Thakor, 2003.
"Go Public or Stay Private: A Theory of Entrepreneurial Choice ,"
Tinbergen Institute Discussion Papers
03-096/2, Tinbergen Institute.
[Downloadable!]
Other versions: Kaplan, Steve & Schoar, Antoinette, 2004.
"Private Equity Performance: Returns, Persistence and Capital Flows ,"
Working papers
4446-03, Massachusetts Institute of Technology (MIT), Sloan School of Management.
[Downloadable!]
Other versions: Cumming, D. & Johan, S., 2005.
"Is it the law or the lawyers? : Investment fund covernants across countries ,"
Discussion Paper
05, Tilburg University, Tilburg Law and Economic Center.
[Downloadable!]
Oliver, Gottschalg & Ludovic, Phalippou, 2006.
"The performance of private equity funds ,"
Les Cahiers de Recherche
852, HEC Paris.
[Downloadable!]
Other versions: Cumming, D. & Johan, S., 2005.
"Advice and monitoring in venture finance ,"
Discussion Paper
03, Tilburg University, Tilburg Law and Economic Center.
[Downloadable!]
Other versions: Groh, Alexander P. & Liechtenstein, Heinrich & Canela, Miguel A., 2008.
"Limited partners' perceptions of the Central Eastern European venture capital and private equity market ,"
IESE Research Papers
D/727, IESE Business School.
[Downloadable!]
McCahery, J.A. & Vermeulen, E.P.M., 2003.
"The evolution of closely held business forms in Europe ,"
Discussion Paper
12, Tilburg University, Tilburg Law and Economic Center.
[Downloadable!]
Douglas Cumming & Daniel Schmidt & Uwe Walz, 2004.
"Legality and Venture Governance Around the World ,"
CFS Working Paper Series
2004/17, Center for Financial Studies.
[Downloadable!]
M. Meuleman & S. Manigart & A. Lockett & M. Wright, 2006.
"Transaction costs, behavioral uncertainty and the formation of interfirm cooperations: Syndication in the UK private equity market ,"
Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium
06/359, Ghent University, Faculty of Economics and Business Administration.
[Downloadable!]
Josh Lerner & Antoinette Schoar & Wan Wong, 2005.
"Smart Institutions, Foolish Choices? The Limited Partner Performance Puzzle ,"
NBER Working Papers
11136, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Other versions: Alexander Ljungqvist & Matthew Richardson & Daniel Wolfenzon, 2008.
"The Investment Behavior of Buyout Funds: Theory and Evidence ,"
NBER Working Papers
14180, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Chikashi Tsuji, 2005.
"Are investors rational in international bond markets? ,"
Applied Financial Economics Letters ,
Taylor and Francis Journals, vol. 1(3), pages 169-175, May.
[Downloadable!] (restricted)
David Cook & Woon Gyu Choi, 2007.
"Financial Market Risk and U.S. Money Demand ,"
IMF Working Papers
07/89, International Monetary Fund.
[Downloadable!]
Ulf Axelson & Per Stromberg & Michael S. Weisbach, 2007.
"Why are Buyouts Levered: The Financial Structure of Private Equity Funds ,"
NBER Working Papers
12826, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Other versions:
Axelson, Ulf & Stromberg, Per & Weisbach, Michael S., 2008.
"Why Are Buyouts Levered? The Financial Structure of Private Equity Funds ,"
Working Paper Series
2008-15, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
[Downloadable!] Axelson, Ulf & Strömberg, Per & Weisbach, Michael S., 2007.
"Why are Buyouts Levered? The Financial Structure of Private Equity Funds ,"
SIFR Research Report Series
49, Institute for Financial Research.
[Downloadable!] Ulf Axelson & Per Strömberg & Michael S. Weisbach, 2009.
"Why Are Buyouts Levered? The Financial Structure of Private Equity Funds ,"
Journal of Finance ,
American Finance Association, vol. 64(4), pages 1549-1582, 08.
[Downloadable!] (restricted) Groh, Alexander P., 2009.
"Private equity in emerging markets ,"
IESE Research Papers
D/779, IESE Business School.
[Downloadable!]
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