Abstract

http://ssrn.com/abstract=1723882
 
 

References (172)



 
 

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Venture Capital and Other Private Equity: A Survey


Andrew Metrick


Yale School of Management; National Bureau of Economic Research (NBER)

Ayako Yasuda


University of California, Davis - Graduate School of Management

December 9, 2010


Abstract:     
We review the theory and evidence on venture capital (VC) and other private equity: why professional private equity exists, what private equity managers do with their portfolio companies, what returns they earn, who earns more and why, what determines the design of contracts signed between (i) private equity managers and their portfolio companies and (ii) private equity managers and their investors (limited partners), and how/whether these contractual designs affect outcomes. Findings highlight the importance of private ownership, and information asymmetry and illiquidity associated with it, as a key explanatory factor of what makes private equity different from other asset classes.

Number of Pages in PDF File: 56

Keywords: Private Equity, Venture Capital, Buyouts, Alternative Assets

JEL Classification: G2, G3, G24, G32, G34

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Date posted: December 12, 2010  

Suggested Citation

Metrick, Andrew and Yasuda, Ayako, Venture Capital and Other Private Equity: A Survey (December 9, 2010). Available at SSRN: http://ssrn.com/abstract=1723882 or http://dx.doi.org/10.2139/ssrn.1723882

Contact Information

Andrew Metrick
Yale School of Management ( email )
135 Prospect Street
P.O. Box 208200
New Haven, CT 06520-8200
United States
(203)-432-3069 (Phone)
HOME PAGE: http://mba.yale.edu/faculty/profiles/metrick.shtml

National Bureau of Economic Research (NBER) ( email )
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
Ayako Yasuda (Contact Author)
University of California, Davis - Graduate School of Management ( email )
One Shields Avenue
Davis, CA 95616
United States
530-752-0775 (Phone)
530-752-2924 (Fax)
HOME PAGE: http://www.ayakoyasuda.com
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