Abstract

http://ssrn.com/abstract=1151744
 
 

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Your Former Employees Matter: Private Equity Firms and Their Financial Advisors


Linus Siming


Bocconi University - Department of Finance; Bocconi University - IGIER - Innocenzo Gasparini Institute for Economic Research

February 1, 2013

Review of Finance, Forthcoming

Abstract:     
This paper shows that former investment bankers become important clients for their previous employers and also provide access to profitable business opportunities to their new private equity employers through their previous employment networks. I observe 1,326 individuals directly involved in 1,285 transactions, of whom a large majority have changed their occupation from financial advisor to private equity professional. The social networks arising from these labor market movements affect private equity firms’ choices of financial advisors, as well as the sourcing, pricing, and performance of deals.

Keywords: Social networks, private equity, acquisitions

JEL Classification: G10, G24, G34

Accepted Paper Series


Not Available For Download

Date posted: June 28, 2008 ; Last revised: February 5, 2013

Suggested Citation

Siming, Linus, Your Former Employees Matter: Private Equity Firms and Their Financial Advisors (February 1, 2013). Review of Finance, Forthcoming. Available at SSRN: http://ssrn.com/abstract=1151744 or http://dx.doi.org/10.2139/ssrn.1151744

Contact Information

Linus Siming (Contact Author)
Bocconi University - Department of Finance ( email )
Via Roentgen 1
Milano, MI 20136
Italy
Bocconi University - IGIER - Innocenzo Gasparini Institute for Economic Research ( email )
Via Roentgen 1
Milan, 20136
Italy
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