On the real effects of private equity investment: evidence from new ...

More documents

Recommendations

Info

References[1] Aernoudt, R., 1999. European policy towards venture capital: myth or reality? VentureCapital, 1(1), 47-58.[2] Aghion, P., T. Fally, and S. Scarpetta, 2007. Credit constraints as a barrier to the entryand post-entry growth of …rms. Economic Policy, 22, 731-779.[3] Aghion, P., and P. Howitt, 1992. A model of growth through creative destruction.Econometrica, 60(2), 323-351.[4] Aghion, P., and P. Howitt, 1998. Endogenous Growth Theory. MIT Press: Cambridge,MA.[5] Barro, R., and J.-W. Lee, 2000. International data on educational attainment: updatesand implications. CID Working Paper No. 42.[6] Beck, T., A. Demirgüç-Kunt, and V. Maksimovic, 2005. Financial and legal constraintsto growth: does …rm size matter? Journal of Finance, 60(1), 137-177.[7] Beck, T., A. Demirguc-Kunt, L. Laeven, and R. Levine, 2008. Finance, …rm size, andgrowth. Journal of Money, Credit, and Banking, 40(7), 1379-1405.[8] Black, S.E., and P.E. Strahan, 2002. Entrepreneurship and bank credit availability.Journal of Finance, 57(6), 2807-2833.[9] Bresnahan, T., and P. Reiss, 1988. Do entry conditions vary across markets? BrookingsPapers on Economic Activity 3, 833-881.[10] Botazzi, L., M. Da Rin, and T. Hellmann, 2008. Who are the active investors? Evidencefrom venture capital. Journal of Financial Economics, 89(3), 488-512.[11] Caves, R., M. Winston, and M. Hurwitz, 1991. Patent expiration, entry, and competitionin the US pharmaceutical industry. Brookings Papers on Economic Activity 6, 1-66.ECBWorking Paper Series No 1078August 200933
[12] Cetorelli, N., and P.E. Strahan, 2006. Finance as a barrier to entry: bank competitionand industry structure in local U.S. markets. Journal of Finance, 61(1), 437-461.[13] Christensen, Clayton M., 1997. The Innovator’s Dilemma: When New TechnologiesCause Great Firms to Fail. Harvard Business School Press: Boston, MA.[14] Claessens, S., and L. Laeven, 2003. Financial development, property rights, and growth.Journal of Finance, 58(6), 2401-2436.[15] Da Rin, M., Di Giacomo, M., and A. Sembenelli, 2008. Firm entry dynamics and thetaxation of corporate pro…ts: evidence from Europe. CentER Discussion Paper SeriesNo. 2008-65.[16] Davis, S.J., J. Haltiwanger, J.Lerner, and J. Miranda, 2008. Private equity and employment.U.S. Census Bureau Center for Economic Studies Paper No. CES-WP-08-07.[17] De Soto, H., 1990. The Other Path. Harper and Row: New York, NY.[18] Enste, D., and F. Schneider, 2000. Shadow economies: Size, causes, and consequences.Journal of Economic Literature, 38(1), 77-114.[19] Geroski, P.A., 1995. What do we know about entry? International Journal of IndustrialOrganization, 13(4), 421-440.[20] Gilson, R. J., 2003. Engineering a venture capital market: lessons from the Americanexperience. Stanford Law Review, 55(4), 1067-1103.[21] Gompers, P.A., and J. Lerner, 1999. The Venture Capital Cycle. MIT Press: Cambridge,MA.[22] Gompers, P.A., and J. Lerner, 2001a. The Money of Invention. Harvard Business SchoolPress: Boston, MA.[23] Gompers, P.A., and J. Lerner, 2001b. The venture capital revolution. Journal of EconomicPerspectives, 15 (2), 145-168.34 ECBWorking Paper Series No 1078August 2009
Page 1 and 2: Working Paper SeriesNo 1078 / augus
Page 3 and 4: © European Central Bank, 2009Addre
Page 5 and 6: AbstractUsing a comprehensive datab
Page 7 and 8: environment leaves the main results
Page 9 and 10: development and restructuring on sm
Page 11 and 12: to industries which are more R&D in
Page 13 and 14: of destination.We …rst recalculat
Page 15 and 16: 2.3 US industry-level entry dataAs
Page 17 and 18: tend to be heavily regulated and/or
Page 19 and 20: speci…c e¤ects. Critically, we a
Page 21 and 22: …rms only (less than 10 employees
Page 23 and 24: higher for industries with higher e
Page 25 and 26: percentage of the adult population
Page 27 and 28: cost of …nancing to venture capit
Page 29 and 30: 4.6 RobustnessWe conduct an extensi
Page 31 and 32: is the same as the gap between priv
Page 33: This paper is, to our knowledge, th
Page 37 and 38: [35] Petersen, M., and R. Rajan, 19
Page 39 and 40: Table 2Summary statistics on entry,
Page 41 and 42: Table 42-digit NACE rev. 1.1 indust
Page 43 and 44: Table 6Private equity timing and fi
Page 45 and 46: Table 8Private equity and alternati
Page 47 and 48: Appendix 1. Variables: definitions
Page 49 and 50: Share shadow economyShare of the in
Page 51: 1068 “Asset price misalignments a

On the real effects of private equity investment: evidence from new ...

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?