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Steven N. Kaplan

University of Chicago - Booth School of Business

Neubauer Family Distinguished Service Professor of Entrepreneurship and Finance

5807 S. Woodlawn Avenue

Chicago, IL 60637

United States

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue

Cambridge, MA 02138

United States

  • University of Chicago - Booth School of Business

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    • Tel: 773-702-4513
    • Fax: 773-702-0458
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SCHOLARLY PAPERS

63

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CITATIONS
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3,577

Scholarly Papers (63)

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1.

Private Equity Performance: Returns, Persistence and Capital Flows

MIT Sloan Working Paper No. 4446-03; AFA 2004 San Diego Meetings
Number of pages: 46 Posted: 04 Dec 2003
Steven N. Kaplan and Antoinette Schoar
University of Chicago - Booth School of Business and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 8,620 (393)
Citation 281

Abstract:

private equity partnerships, fund returns,

2.

Private Equity Performance: What Do We Know?

Downloads 8,618 ( 430)
Citation 28

Private Equity Performance: What Do We Know?

Journal of Finance, Forthcoming, Fama-Miller Working Paper, Chicago Booth Research Paper No. 11-44, Darden Business School Working Paper No. 1932316
Number of pages: 43 Posted: 23 Sep 2011 Last Revised: 30 Jul 2013
Robert S. Harris, Tim Jenkinson and Steven N. Kaplan
University of Virginia - Darden School of Business, University of Oxford - Said Business School and University of Chicago - Booth School of Business
Downloads 8,427 (438)
Citation 28

Abstract:

Private Equity, Venture Capital

Private Equity Performance: What Do We Know?

NBER Working Paper No. w17874
Number of pages: 51 Posted: 24 Feb 2012
Robert S. Harris, Tim Jenkinson and Steven N. Kaplan
University of Virginia - Darden School of Business, University of Oxford - Said Business School and University of Chicago - Booth School of Business
Downloads 191 (131,658)
Citation 28

Abstract:

3.

How Do Venture Capitalists Make Decisions?

Downloads 8,322 ( 455)

How Do Venture Capitalists Make Decisions?

Stanford University Graduate School of Business Research Paper No. 16-33, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 477/2016
Number of pages: 95 Posted: 29 Jun 2016 Last Revised: 10 May 2017
Paul A. Gompers, Will Gornall, Steven N. Kaplan and Ilya A. Strebulaev
Harvard Business School - Finance Unit, University of British Columbia (UBC) - Sauder School of Business, University of Chicago - Booth School of Business and Stanford University - Graduate School of Business
Downloads 8,242 (457)

Abstract:

venture capital, entrepreneurship

How Do Venture Capitalists Make Decisions?

NBER Working Paper No. w22587
Number of pages: 64 Posted: 07 Sep 2016
Paul A. Gompers, Will Gornall, Steven N. Kaplan and Ilya A. Strebulaev
Harvard Business School - Finance Unit, University of British Columbia (UBC) - Sauder School of Business, University of Chicago - Booth School of Business and Stanford University - Graduate School of Business
Downloads 80 (259,442)
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4.

The State of U.S. Corporate Governance: What's Right and What's Wrong?

Downloads 8,260 ( 463)
Citation 81

The State of U.S. Corporate Governance: What's Right and What's Wrong?

ECGI - Finance Working Paper No. 23/2003
Number of pages: 39 Posted: 08 Sep 2003
Bengt R. Holmström and Steven N. Kaplan
Massachusetts Institute of Technology (MIT) - Department of Economics and University of Chicago - Booth School of Business
Downloads 8,084 (481)
Citation 81

Abstract:

U.S. corporate governance system, shareholder value, executive compensation, boards, Sarbanes-Oxley act, comparative corporate governance

The State of U.S. Corporate Governance: What's Right and What's Wrong?

NBER Working Paper No. w9613
Number of pages: 35 Posted: 11 Apr 2003
Bengt R. Holmström and Steven N. Kaplan
Massachusetts Institute of Technology (MIT) - Department of Economics and University of Chicago - Booth School of Business
Downloads 176 (142,142)
Citation 81

Abstract:

5.

Leveraged Buyouts and Private Equity

Downloads 7,792 ( 516)
Citation 100

Leveraged Buyouts and Private Equity

Number of pages: 40 Posted: 03 Aug 2008 Last Revised: 14 Jan 2009
Steven N. Kaplan and Per Strömberg
University of Chicago - Booth School of Business and Swedish House of Finance
Downloads 7,435 (554)
Citation 100

Abstract:

Private Equity

Leveraged Buyouts and Private Equity

NBER Working Paper No. W14207
Number of pages: 41 Posted: 04 Aug 2008
Steven N. Kaplan and Per Strömberg
University of Chicago - Booth School of Business and Swedish House of Finance
Downloads 357 (67,472)
Citation 100

Abstract:

6.

Corporate Governance and Merger Activity in the U.S.: Making Sense of the 1980s and 1990s

Downloads 4,552 ( 1,322)
Citation 152

Corporate Governance and Merger Activity in the U.S.: Making Sense of the 1980s and 1990s

MIT Dept. of Economics Working Paper No. 01-11
Number of pages: 46 Posted: 21 Feb 2001
Bengt R. Holmström and Steven N. Kaplan
Massachusetts Institute of Technology (MIT) - Department of Economics and University of Chicago - Booth School of Business
Downloads 4,407 (1,370)
Citation 152

Abstract:

Corporate Governance; Stock Options; Mergers and Acquisitions

Corporate Governance and Merger Activity in the U.S.: Making Sense of the 1980s and 1990s

NBER Working Paper No. w8220
Number of pages: 47 Posted: 08 Apr 2001
Bengt R. Holmström and Steven N. Kaplan
Massachusetts Institute of Technology (MIT) - Department of Economics and University of Chicago - Booth School of Business
Downloads 145 (168,541)
Citation 152

Abstract:

7.

Which CEO Characteristics and Abilities Matter?

Downloads 4,199 ( 1,515)
Citation 68

Which CEO Characteristics and Abilities Matter?

Swedish Institute for Financial Research Conference on the Economics of the Private Equity Market, AFA 2008 New Orleans Meetings Paper
Number of pages: 49 Posted: 20 Mar 2007 Last Revised: 13 Jan 2015
Steven N. Kaplan, Mark M. Klebanov and Morten Sorensen
University of Chicago - Booth School of Business, University of Chicago - Graduate School of Business (GSB) and Copenhagen Business School
Downloads 4,031 (1,596)
Citation 68

Abstract:

CEO characteristics, private equity

Which CEO Characteristics and Abilities Matter?

NBER Working Paper No. w14195
Number of pages: 55 Posted: 04 Aug 2008
Steven N. Kaplan, Mark M. Klebanov and Morten Sorensen
University of Chicago - Booth School of Business, University of Chicago - Graduate School of Business (GSB) and Copenhagen Business School
Downloads 168 (148,259)
Citation 68

Abstract:

8.

What Do Private Equity Firms Say They Do?

Downloads 3,977 ( 1,653)

What Do Private Equity Firms Say They Do?

Harvard Business School Finance Working Paper No. 15-081, Harvard Business School Entrepreneurial Management Working Paper No. 15-081
Number of pages: 66 Posted: 01 May 2015
Paul A. Gompers, Steven N. Kaplan and Vladimir Mukharlyamov
Harvard Business School - Finance Unit, University of Chicago - Booth School of Business and Georgetown University - McDonough School of Business
Downloads 2,081 (5,102)

Abstract:

What Do Private Equity Firms Say They Do?

Journal of Financial Economics (JFE), Vol. 121, No. 3, 2016
Number of pages: 72 Posted: 11 Jun 2014 Last Revised: 10 May 2017
Paul A. Gompers, Steven N. Kaplan and Vladimir Mukharlyamov
Harvard Business School - Finance Unit, University of Chicago - Booth School of Business and Georgetown University - McDonough School of Business
Downloads 1,882 (6,030)

Abstract:

private equity, valuation, capital structure, value creation

What Do Private Equity Firms Say They Do?

NBER Working Paper No. w21133
Number of pages: 65 Posted: 04 May 2015
Paul A. Gompers, Steven N. Kaplan and Vladimir Mukharlyamov
Harvard Business School - Finance Unit, University of Chicago - Booth School of Business and Georgetown University - McDonough School of Business
Downloads 14 (496,392)
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Abstract:

9.

Financial Contracting Theory Meets The Real World: An Empirical Analysis Of Venture Capital Contracts

Downloads 3,864 ( 1,754)
Citation 362

Financial Contracting Theory Meets The Real World: An Empirical Analysis Of Venture Capital Contracts

CRSP Working Paper No. 513
Number of pages: 74 Posted: 26 Apr 2000
Steven N. Kaplan and Per Strömberg
University of Chicago - Booth School of Business and Swedish House of Finance
Downloads 3,681 (1,880)
Citation 362

Abstract:

Financial Contracting Theory Meets the Real World: An Empirical Analysis of Venture Capital Contracts

NBER Working Paper No. w7660
Number of pages: 74 Posted: 16 May 2000
Steven N. Kaplan and Per Strömberg
University of Chicago - Booth School of Business and Swedish House of Finance
Downloads 183 (137,151)
Citation 362

Abstract:

10.

Executive Compensation and Corporate Governance in the U.S.: Perceptions, Facts and Challenges

Downloads 3,366 ( 2,228)
Citation 6

Executive Compensation and Corporate Governance in the U.S.: Perceptions, Facts and Challenges

Chicago Booth Research Paper No. 12-42, Fama-Miller Working Paper
Number of pages: 50 Posted: 29 Aug 2012 Last Revised: 26 Sep 2012
Steven N. Kaplan
University of Chicago - Booth School of Business
Downloads 3,343 (2,211)
Citation 6

Abstract:

Corporate Governance, Executive Compensation

Executive Compensation and Corporate Governance in the U.S.: Perceptions, Facts and Challenges

NBER Working Paper No. w18395
Number of pages: 51 Posted: 15 Sep 2012
Steven N. Kaplan
University of Chicago - Booth School of Business
Downloads 23 (444,182)
Citation 6

Abstract:

11.

Wall Street and Main Street: What Contributes to the Rise in the Highest Incomes?

Downloads 3,091 ( 2,622)
Citation 71

Wall Street and Main Street: What Contributes to the Rise in the Highest Incomes?

CRSP Working Paper No. 615, AFA 2008 New Orleans Meetings Paper
Number of pages: 67 Posted: 20 Sep 2006
Joshua D. Rauh and Steven N. Kaplan
Stanford Graduate School of Business and University of Chicago - Booth School of Business
Downloads 3,028 (2,653)
Citation 71

Abstract:

Compensation, Wage Differentials, Income Inequality, Corporate Governance

Wall Street and Main Street: What Contributes to the Rise in the Highest Incomes?

NBER Working Paper No. w13270
Number of pages: 68 Posted: 23 Jul 2007
Joshua D. Rauh and Steven N. Kaplan
Stanford Graduate School of Business and University of Chicago - Booth School of Business
Downloads 63 (297,530)
Citation 71

Abstract:

12.

Should Investors Bet on the Jockey or the Horse? Evidence from the Evolution of Firms from Early Business Plans to Public Companies

Downloads 2,396 ( 4,075)
Citation 46

Should Investors Bet on the Jockey or the Horse? Evidence from the Evolution of Firms from Early Business Plans to Public Companies

CRSP Working Paper No. 603
Number of pages: 48 Posted: 16 Feb 2005
Steven N. Kaplan, Berk A. Sensoy and Per Strömberg
University of Chicago - Booth School of Business, Vanderbilt University - Finance and Swedish House of Finance
Downloads 1,830 (6,345)
Citation 46

Abstract:

Entrepreneurship, Venture Capital, Theory of the firm

What are Firms? Evolution from Early Business Plans to Public Companies

Number of pages: 53 Posted: 14 Apr 2006
Steven N. Kaplan, Berk A. Sensoy and Per Strömberg
University of Chicago - Booth School of Business, Vanderbilt University - Finance and Swedish House of Finance
Downloads 566 (37,977)
Citation 46

Abstract:

Entrepreneurship, Venture Capital, Theory of the firm

13.

A Clinical Exploration of Value Creation and Destruction in Acquisitions: Organization Design, Incentives, and Internal Capital Markets

Center for Research in Security Prices (CRSP) Working Paper No. 450
Number of pages: 55 Posted: 11 Aug 1997
Steven N. Kaplan, Mark L. Mitchell and Karen H. Wruck
University of Chicago - Booth School of Business, AQR Capital Management, LLC and Ohio State University - Fisher College of Business, Department of Finance
Downloads 1,944 (5,697)
Citation 16

Abstract:

14.

Characteristics, Contracts and Actions: Evidence from Venture Capitalist Analyses

Downloads 1,704 ( 7,402)
Citation 180

Characteristics, Contracts and Actions: Evidence from Venture Capitalist Analyses

CRSP Working Paper No. 536
Number of pages: 52 Posted: 15 Jan 2002
Steven N. Kaplan and Per Strömberg
University of Chicago - Booth School of Business and Swedish House of Finance
Downloads 1,187 (12,982)
Citation 180

Abstract:

Characteristics, Contracts, and Actions: Evidence from Venture Capitalist Analyses

AFA 2002 Atlanta Meetings
Number of pages: 51 Posted: 28 Dec 2001
Per Strömberg and Steven N. Kaplan
Swedish House of Finance and University of Chicago - Booth School of Business
Downloads 411 (56,992)
Citation 180

Abstract:

Characteristics, Contracts, and Actions: Evidence from Venture Capitalist Analyses

NBER Working Paper No. w8764
Number of pages: 52 Posted: 07 Feb 2002
Steven N. Kaplan and Per Strömberg
University of Chicago - Booth School of Business and Swedish House of Finance
Downloads 75 (269,852)
Citation 180

Abstract:

Characteristics, Contracts and Actions: Evidence from Venture Capitalist Analyses

CEPR Discussion Paper No. 3243
Number of pages: 54 Posted: 04 Apr 2002
Steven N. Kaplan and Per Strömberg
University of Chicago - Booth School of Business and Swedish House of Finance
Downloads 31 (403,187)
Citation 180
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Abstract:

Investment banking, venture capital, financing policy, capital and ownership structure, brokerage

15.

CEO Personality and Firm Policies

Downloads 1,415 ( 9,987)

CEO Personality and Firm Policies

6th Miami Behavioral Finance Conference, Stanford University Graduate School of Business Research Paper No. 16-34, Chicago Booth Research Paper No. 16-13, Fama-Miller Working Paper, Rock Center for Corporate Governance at Stanford University Working Paper No. 220
Number of pages: 62 Posted: 08 Jul 2016 Last Revised: 10 Aug 2016
Ian D. Gow, Steven N. Kaplan, David F. Larcker and Anastasia A. Zakolyukina
Harvard University - Accounting & Control Unit, University of Chicago - Booth School of Business, Stanford University - Graduate School of Business and University of Chicago - Booth School of Business
Downloads 1,378 (10,216)

Abstract:

CEO Personality, leadership traits, personality measures, Big Five personality, CEO investment choices, CEO financing choices, firm operating performance

CEO Personality and Firm Policies

NBER Working Paper No. w22435
Number of pages: 61 Posted: 25 Jul 2016
Ian D. Gow, Steven N. Kaplan, David F. Larcker and Anastasia Zakolyukina
Harvard University - Accounting & Control Unit, University of Chicago - Booth School of Business, Stanford University - Graduate School of Business and University of Chicago
Downloads 37 (378,381)
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Abstract:

16.

Has Persistence Persisted in Private Equity? Evidence from Buyout and Venture Capital Funds

Darden Business School Working Paper No. 2304808, Fama-Miller Working Paper
Number of pages: 38 Posted: 02 Aug 2013 Last Revised: 30 Aug 2014
Robert S. Harris, Tim Jenkinson, Steven N. Kaplan and Rüdiger Stucke
University of Virginia - Darden School of Business, University of Oxford - Said Business School, University of Chicago - Booth School of Business and University of Oxford - Said Business School
Downloads 1,295 (4,183)
Citation 2

Abstract:

Private equity, performance persistence, venture capital

17.

Private Equity Performance: A Survey

Downloads 1,192 ( 13,167)

Private Equity Performance: A Survey

Charles A. Dice Center Working Paper No. 2015-10 , Fisher College of Business Working Paper No. 2015-03-10
Number of pages: 34 Posted: 08 Jul 2015 Last Revised: 15 Aug 2015
Steven N. Kaplan and Berk A. Sensoy
University of Chicago - Booth School of Business and Vanderbilt University - Finance
Downloads 1,192 (12,902)

Abstract:

private equity, performance

Private Equity Performance: A Survey

Annual Review of Financial Economics, Vol. 7, pp. 597-614, 2015
Posted: 11 Dec 2015
Steven N. Kaplan and Berk A. Sensoy
University of Chicago - Booth School of Business and Vanderbilt University - Finance

Abstract:

18.

How Costly is Financial (Not Economic) Distress? Evidence from Highly Leveraged Transactions that Became Distressed

Number of pages: 58 Posted: 21 Apr 1997
Steven N. Kaplan and Gregor Andrade
University of Chicago - Booth School of Business and Harvard Business School - Finance Unit
Downloads 1,189 (12,274)
Citation 227

Abstract:

19.

Effects of LBOs on Tax Revenues of the U.S. Treasury

Tax Notes, Vol. 42, No. 6, 1989
Number of pages: 18 Posted: 16 Aug 2000
Michael C. Jensen, Steven N. Kaplan and Laura Stiglin
SSRN, University of Chicago - Booth School of Business and Econalytics
Downloads 1,160 (12,606)
Citation 6

Abstract:

20.

What is the Price of Hubris? Using Takeover Battles to Infer Overpayments and Synergies

Downloads 1,116 ( 14,567)
Citation 47

What is the Price of Hubris? Using Takeover Battles to Infer Overpayments and Synergies

AFA 2001 New Orleans Meetings
Number of pages: 54 Posted: 16 Sep 2000
Pekka Hietala, Steven N. Kaplan and David T. Robinson
INSEAD - Finance, University of Chicago - Booth School of Business and Fuqua School of Business, Duke University
Downloads 1,047 (15,793)
Citation 47

Abstract:

What is the Price of Hubris? Using Takeover Battles to Infer Overpayments and Synergies

NBER Working Paper No. w9264
Number of pages: 44 Posted: 11 Oct 2002
Pekka Hietala, Steven N. Kaplan and David T. Robinson
INSEAD - Finance, University of Chicago - Booth School of Business and Fuqua School of Business, Duke University
Downloads 48 (340,347)
Citation 47

Abstract:

What is the Price of Hubris? Using Takeover Battles to Infer Overpayments and Synergies

Financial Management, Vol. 32, No. 3, 2003
Number of pages: 28 Posted: 10 Jan 2005
Pekka Hietala, Steven N. Kaplan and David T. Robinson
INSEAD - Finance, University of Chicago - Booth School of Business and Fuqua School of Business, Duke University
Downloads 21 (455,673)
Citation 47
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Abstract:

21.

Do Private Equity Funds Manipulate Reported Returns?

Journal of Financial Economics (JFE), Forthcoming, Fama-Miller Working Paper
Number of pages: 74 Posted: 30 May 2013 Last Revised: 07 Jul 2017
Gregory W. Brown, Oleg Gredil and Steven N. Kaplan
University of North Carolina (UNC) at Chapel Hill - Finance Area, Tulane University -- A.B. Freeman School of Business and University of Chicago - Booth School of Business
Downloads 1,044 (8,354)
Citation 4

Abstract:

Private Equity, Venture Capital, Buyout Funds Mutual Funds, Institutional Investors

22.

The Effects of Business-to-Business E-Commerce on Transaction Costs

Downloads 865 ( 21,396)
Citation 18

The Effects of Business-to-Business E-Commerce on Transaction Costs

Number of pages: 28 Posted: 10 Dec 2000
Luis Garicano and Steven N. Kaplan
University of Chicago - Booth School of Business - Economics and University of Chicago - Booth School of Business
Downloads 648 (31,655)
Citation 18

Abstract:

The Effects of Business-to-Business E-Commerce on Transaction Costs

NBER Working Paper No. w8017
Number of pages: 53 Posted: 24 Nov 2000
Luis Garicano and Steven N. Kaplan
University of Chicago - Booth School of Business - Economics and University of Chicago - Booth School of Business
Downloads 217 (116,357)
Citation 18

Abstract:

23.

The Effects of Stock Lending on Security Prices: An Experiment

Downloads 806 ( 23,699)
Citation 7

The Effects of Stock Lending on Security Prices: An Experiment

Journal of Finance, Forthcoming, Chicago Booth Research Paper No. 09-39, Chicago Booth Initiative on Global Markets Working Paper No. 42, Fisher College of Business Working Paper No. 2009-03-020, Charles A. Dice Center Working Paper No. 2009-20, AFA 2011 Meetings Paper
Number of pages: 73 Posted: 22 Oct 2009 Last Revised: 30 Apr 2013
Steven N. Kaplan, Tobias J. Moskowitz and Berk A. Sensoy
University of Chicago - Booth School of Business, Yale University, Yale SOM and Vanderbilt University - Finance
Downloads 762 (25,272)
Citation 7

Abstract:

Short Selling, Securities Lending, Stock Prices

The Effects of Stock Lending on Security Prices: an Experiment

NBER Working Paper No. w16335
Number of pages: 58 Posted: 07 Sep 2010
Steven N. Kaplan, Tobias J. Moskowitz and Berk A. Sensoy
University of Chicago - Booth School of Business, Yale University, Yale SOM and Vanderbilt University - Finance
Downloads 44 (353,248)
Citation 7

Abstract:

24.

Financial Intermediation in Private Equity: How Well Do Funds of Funds Perform?

Downloads 798 ( 24,050)

Financial Intermediation in Private Equity: How Well Do Funds of Funds Perform?

Darden Business School Working Paper No. 2620582
Number of pages: 55 Posted: 20 Jun 2015 Last Revised: 13 May 2017
Robert S. Harris, Tim Jenkinson, Steven N. Kaplan and Rüdiger Stucke
University of Virginia - Darden School of Business, University of Oxford - Said Business School, University of Chicago - Booth School of Business and University of Oxford - Said Business School
Downloads 777 (24,563)

Abstract:

private equity, fund of funds, financial intermediation, venture capital

Financial Intermediation in Private Equity: How Well Do Funds of Funds Perform?

NBER Working Paper No. w23428
Number of pages: 50 Posted: 24 May 2017
Robert S. Harris, Tim Jenkinson, Steven N. Kaplan and Ruediger Stucke
University of Virginia - Darden School of Business, University of Oxford - Said Business School, University of Chicago - Booth School of Business and Warburg Pincus LLC
Downloads 21 (455,673)
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Abstract:

25.

Berg Electronics Corporation

Number of pages: 16 Posted: 30 Jan 2001
Steven N. Kaplan, John D. Martin and Robert Parrino
University of Chicago - Booth School of Business, Baylor University - Department of Finance, Insurance & Real Estate and University of Texas at Austin - Department of Finance
Downloads 777 (23,671)

Abstract:

26.

How Well do Venture Capital Databases Reflect Actual Investments?

Number of pages: 30 Posted: 22 Oct 2006
Steven N. Kaplan, Per Strömberg and Berk A. Sensoy
University of Chicago - Booth School of Business, Swedish House of Finance and Vanderbilt University - Finance
Downloads 649 (26,295)
Citation 46

Abstract:

venture capital, databases, investments

27.

How Do Legal Differences and Learning Affect Financial Contracts?

Downloads 600 ( 35,628)
Citation 55

How Do Legal Differences and Learning Affect Financial Contracts?

Number of pages: 43 Posted: 21 Jun 2004
Steven N. Kaplan, Per Strömberg and Frederic Martel
University of Chicago - Booth School of Business, Swedish House of Finance and UBS Global Asset Management
Downloads 512 (43,293)
Citation 55

Abstract:

Venture Capital, financial contracting, law and finance, capital and ownership structure

How Do Legal Differences and Learning Affect Financial Contracts?

NBER Working Paper No. w10097
Number of pages: 38 Posted: 17 Nov 2003 Last Revised: 30 Oct 2014
Steven N. Kaplan, Frederic Martel and Per Strömberg
University of Chicago - Booth School of Business, UBS Global Asset Management and Swedish House of Finance
Downloads 57 (313,278)
Citation 55

Abstract:

How Do Legal Differences and Learning Affect Financial Contracts?

CEPR Discussion Paper No. 4161
Number of pages: 40 Posted: 12 Jan 2004
Steven N. Kaplan, Frederic Martel and Per Strömberg
University of Chicago - Booth School of Business, UBS Global Asset Management and Swedish House of Finance
Downloads 31 (403,187)
Citation 55
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Abstract:

28.

How Do Private Equity Investments Perform Compared to Public Equity?

Darden Business School Working Paper No. 2597259
Number of pages: 37 Posted: 23 Apr 2015 Last Revised: 19 Jun 2015
Robert S. Harris, Tim Jenkinson and Steven N. Kaplan
University of Virginia - Darden School of Business, University of Oxford - Said Business School and University of Chicago - Booth School of Business
Downloads 588 (2,984)

Abstract:

private equity, venture capital, performance, public markets

29.

What Do Different Commercial Data Sets Tell Us About Private Equity Performance?

Downloads 459 ( 50,383)

What Do Different Commercial Data Sets Tell Us About Private Equity Performance?

Number of pages: 67 Posted: 14 Dec 2015
Gregory W. Brown, Robert S. Harris, Tim Jenkinson, Steven N. Kaplan and David T. Robinson
University of North Carolina (UNC) at Chapel Hill - Finance Area, University of Virginia - Darden School of Business, University of Oxford - Said Business School, University of Chicago - Booth School of Business and Fuqua School of Business, Duke University
Downloads 415 (56,502)

Abstract:

Private Equity, Venture Capital

What Do Different Commercial Data Sets Tell Us About Private Equity Performance?

Number of pages: 67 Posted: 14 Dec 2015
Gregory W. Brown, Robert S. Harris, Tim Jenkinson, Steven N. Kaplan and David T. Robinson
University of North Carolina (UNC) at Chapel Hill - Finance Area, University of Virginia - Darden School of Business, University of Oxford - Said Business School, University of Chicago - Booth School of Business and Fuqua School of Business, Duke University
Downloads 44 (353,248)

Abstract:

Private Equity, Venture Capital

30.

Investment-Cash Flow Sensitivities are Not Valid Measures of Financing Constraints

NBER Working Paper No. w7659
Number of pages: 7 Posted: 17 May 2000
Steven N. Kaplan and Luigi Zingales
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Downloads 332 (62,535)
Citation 180

Abstract:

31.

The Valuation of Cash Flow Forecasts: An Empirical Analysis

Downloads 272 ( 92,595)

The Valuation of Cash Flow Forecasts: An Empirical Analysis

NBER Working Paper No. w4724
Number of pages: 44 Posted: 11 Jun 2000
Steven N. Kaplan and Richard S. Ruback
University of Chicago - Booth School of Business and Harvard Business School
Downloads 272 (92,106)
Citation 113

Abstract:

The Valuation of Cash Flow Forecasts: An Empirical Analysis

Posted: 08 Aug 1994
Steven N. Kaplan and Richard S. Ruback
University of Chicago - Booth School of Business and Harvard Business School

Abstract:

The Valuation of Cash Flow Forecasts: An Empirical Analysis

JOURNAL OF FINANCE, Vol 50 No 4, September 1995
Posted: 18 Aug 1995
Steven N. Kaplan and Richard S. Ruback
University of Chicago - Booth School of Business and Harvard Business School

Abstract:

32.

Private Equity Performance: Returns, Persistence and Capital

NBER Working Paper No. w9807
Number of pages: 43 Posted: 29 Jun 2003
Steven N. Kaplan and Antoinette Schoar
University of Chicago - Booth School of Business and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 271 (81,963)
Citation 278

Abstract:

33.

The Evolution of Buyout Pricing and Financial Structure

NBER Working Paper No. w3695
Number of pages: 51 Posted: 09 Jul 2004 Last Revised: 11 Aug 2010
Steven N. Kaplan and Jeremy C. Stein
University of Chicago - Booth School of Business and Harvard University - Department of Economics
Downloads 250 (101,211)
Citation 104

Abstract:

34.

How Has CEO Turnover Changed? Increasingly Performance Sensitive Boards and Increasingly Uneasy CEOS

NBER Working Paper No. w12465
Number of pages: 35 Posted: 21 Aug 2006 Last Revised: 25 Jul 2010
Steven N. Kaplan and Bernadette A. Minton
University of Chicago - Booth School of Business and Ohio State University (OSU) - Department of Finance
Downloads 218 (116,192)
Citation 61

Abstract:

35.

Do Financing Constraints Explain Why Investment is Correlated with Cash Flow?

NBER Working Paper No. w5267
Number of pages: 48 Posted: 11 Aug 2000
Steven N. Kaplan and Luigi Zingales
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Downloads 218 (87,586)
Citation 127

Abstract:

36.

Are U.S. Companies Too Short-Term Oriented? Some Thoughts

Downloads 205 (123,458)

Are U.S. Companies Too Short-Term Oriented? Some Thoughts

Number of pages: 23 Posted: 23 May 2017
Steven N. Kaplan
University of Chicago - Booth School of Business
Downloads 184 (136,418)

Abstract:

Short-Termism, Investment, Innovation

Are U.S. Companies Too Short-Term Oriented? Some Thoughts

NBER Working Paper No. w23464
Number of pages: 24 Posted: 05 Jun 2017
Steven N. Kaplan
University of Chicago - Booth School of Business
Downloads 21 (455,673)
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37.

The Success of Acquisitions: Evidence from Disvestitures

NBER Working Paper No. w3484
Number of pages: 39 Posted: 05 Jul 2004
Steven N. Kaplan and Michael S. Weisbach
University of Chicago - Booth School of Business and Ohio State University (OSU) - Department of Finance
Downloads 195 (120,636)
Citation 126

Abstract:

38.

How Costly is Financial (Not Economic) Distress? Evidence from Highly Leveraged Transactions that Became Distressed

Downloads 177 (141,486)

How Costly is Financial (Not Economic) Distress? Evidence from Highly Leveraged Transactions that Became Distressed

NBER Working Paper No. w6145
Number of pages: 62 Posted: 06 Sep 2000
Gregor Andrade and Steven N. Kaplan
Harvard Business School - Finance Unit and University of Chicago - Booth School of Business
Downloads 177 (141,426)
Citation 229

Abstract:

How Costly is Financial (not Economic) Distress? Evidence from Highly Leveraged Transactions that Became Distressed

Posted: 23 May 1998
Gregor Andrade and Steven N. Kaplan
Harvard Business School - Finance Unit and University of Chicago - Booth School of Business

Abstract:

39.

Venture Capitalists as Principals: Contracting, Screening, and Monitoring

NBER Working Paper No. w8202
Number of pages: 14 Posted: 31 Mar 2001
Steven N. Kaplan and Per Strömberg
University of Chicago - Booth School of Business and Swedish House of Finance
Downloads 147 (142,179)
Citation 87

Abstract:

40.

What are Firms? Evolution from Birth to Public Companies

Downloads 128 (185,821)
Citation 13

What are Firms? Evolution from Birth to Public Companies

NBER Working Paper No. w11581
Number of pages: 57 Posted: 19 Oct 2005
Steven N. Kaplan, Berk A. Sensoy and Per Strömberg
University of Chicago - Booth School of Business, Vanderbilt University - Finance and Swedish House of Finance
Downloads 102 (221,082)
Citation 12

Abstract:

What are Firms? Evolution from Birth to Public Companies

CEPR Discussion Paper No. 5224
Number of pages: 59 Posted: 24 Oct 2005
Steven N. Kaplan, Per Strömberg and Berk A. Sensoy
University of Chicago - Booth School of Business, Swedish House of Finance and Vanderbilt University - Finance
Downloads 26 (427,505)
Citation 13
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Abstract:

Entrepreneurship, theory of the firm, venture capital

41.

Top Executive Rewards and Firm Performance: A Comparison of Japan and the U.S

Downloads 116 (200,325)

Top Executive Rewards and Firm Performance: A Comparison of Japan and the U.S

NBER Working Paper No. w4065
Number of pages: 64 Posted: 27 Apr 2000 Last Revised: 12 Aug 2010
Steven N. Kaplan
University of Chicago - Booth School of Business
Downloads 116 (201,161)
Citation 174

Abstract:

Top Executive Rewards and Firm Performance: A Comparison of Japan and the U.S

Posted: 24 Oct 1999
Steven N. Kaplan
University of Chicago - Booth School of Business

Abstract:

42.

The Staying Power of Leveraged Buyouts

NBER Working Paper No. w3653
Number of pages: 37 Posted: 14 Jan 2001
Steven N. Kaplan
University of Chicago - Booth School of Business
Downloads 106 (179,140)
Citation 56

Abstract:

43.

A Clinical Exploration of Value Creation and Destruction in Acquisitions: Organizational Design, Incentives, and Internal Capital Markets

NBER Working Paper No. w5999
Number of pages: 65 Posted: 07 Jul 2000
Steven N. Kaplan, Mark L. Mitchell and Karen H. Wruck
University of Chicago - Booth School of Business, AQR Capital Management, LLC and Ohio State University - Fisher College of Business, Department of Finance
Downloads 70 (247,734)
Citation 16

Abstract:

44.

How Risky is the Debt in Highly Leveraged Transactions? Evidence from Public Recapitalizations

NBER Working Paper No. w3390
Number of pages: 40 Posted: 11 Apr 2011
Steven N. Kaplan and Jeremy C. Stein
University of Chicago - Booth School of Business and Harvard University - Department of Economics
Downloads 46 (331,635)

Abstract:

45.

Top Executives, Turnover and Firm Performance in Germany

Downloads 46 (340,496)

Top Executives, Turnover and Firm Performance in Germany

NBER Working Paper No. w4416
Number of pages: 24 Posted: 08 Aug 2007 Last Revised: 28 Jul 2010
Steven N. Kaplan
University of Chicago - Booth School of Business
Downloads 46 (346,501)
Citation 81

Abstract:

Top Executives, Turnover, and Firm Performance in Germany

Journal of Law, Economics, & Organization: Volume 10 Number 1, April 1994.
Posted: 03 May 2000
Steven N. Kaplan
University of Chicago - Booth School of Business

Abstract:

46.

The Holding Period Distinction of the Capital Gains Tax

NBER Working Paper No. w0762
Number of pages: 34 Posted: 19 Aug 2004 Last Revised: 03 Aug 2010
Steven N. Kaplan
University of Chicago - Booth School of Business
Downloads 24 (425,577)
Citation 4

Abstract:

47.

'Outside' Intervention in Japanese Companies: its Determinants and Implications for Mangers

NBER Working Paper No. w4276
Number of pages: 40 Posted: 27 Dec 2006
Steven N. Kaplan and Bernadette A. Minton
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business - Economics
Downloads 15 (446,142)
Citation 5

Abstract:

48.

Morgan Stanley Roundtable on the State of Global Private Equity

Journal of Applied Corporate Finance, Vol. 23, Issue 4, pp. 8-33, 2011
Number of pages: 28 Posted: 22 Dec 2011
Alan Jones, Steven N. Kaplan, Carl Ferenbach, Mike Bingle, Marc Lipschultz and Phil Canfield
affiliation not provided to SSRN, University of Chicago - Booth School of Business, affiliation not provided to SSRN, affiliation not provided to SSRN, affiliation not provided to SSRN and affiliation not provided to SSRN
Downloads 8 (507,690)
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Abstract:

49.

It Ain't Broke: The Past, Present, and Future of Venture Capital

Journal of Applied Corporate Finance, Vol. 22, No. 2, pp. 36-47, Spring 2010
Number of pages: 14 Posted: 28 Jul 2010
Steven N. Kaplan and Josh Lerner
University of Chicago - Booth School of Business and Harvard Business School - Finance Unit
Downloads 7 (502,876)
Citation 13
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Abstract:

50.

Venture Capital Data: Opportunities and Challenges

NBER Working Paper No. w22500
Number of pages: 26 Posted: 16 Aug 2016
Steven N. Kaplan and Josh Lerner
University of Chicago - Booth School of Business and Harvard Business School - Finance Unit
Downloads 0 (363,394)
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Abstract:

51.

Do Private Equity Funds Manipulate Reported Returns?

NBER Working Paper No. w22493
Number of pages: 70 Posted: 08 Aug 2016
Gregory W. Brown, Oleg Gredil and Steven N. Kaplan
University of North Carolina (UNC) at Chapel Hill - Finance Area, Tulane University -- A.B. Freeman School of Business and University of Chicago - Booth School of Business
Downloads 0 (461,838)
Citation 4
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Abstract:

52.

Are CEOs Different? Characteristics of Top Managers

Columbia Business School Research Paper No. 16-27, Paris December 2016 Finance Meeting EUROFIDAI - AFFI
Number of pages: 54 Posted: 15 Mar 2016 Last Revised: 10 Aug 2017
Steven N. Kaplan and Morten Sorensen
University of Chicago - Booth School of Business and Copenhagen Business School
Downloads 0 (2,290)

Abstract:

CEOs, CFOs, COOs, Managerial Characteristics, Hiring Decisions, Corporate Governance

53.

CEO Pay and Corporate Governance in the U.S.: Perceptions, Facts, and Challenges

Journal of Applied Corporate Finance, Vol. 25, Issue 2, pp. 8-25, 2013
Number of pages: 20 Posted: 13 Sep 2013
Steven N. Kaplan
University of Chicago - Booth School of Business
Downloads 0 (561,134)
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Abstract:

54.

How Has CEO Turnover Changed?

International Review of Finance, Vol. 12, Issue 1, pp. 57-87, 2012
Number of pages: 31 Posted: 31 Mar 2012
Steven N. Kaplan and Bernadette A. Minton
University of Chicago - Booth School of Business and Ohio State University (OSU) - Department of Finance
Downloads 0 (561,134)
Citation 89
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Abstract:

55.

Do Mutual Funds Time their Benchmarks?

Posted: 14 Mar 2006
Steven N. Kaplan and Berk A. Sensoy
University of Chicago - Booth School of Business and Vanderbilt University - Finance

Abstract:

Mutual Funds, Market Timing, Benchmarks, Cash

56.

Appointments of Outsiders to Japanese Boards: Determinants and Implications for Managers

Posted: 10 Aug 1999
Steven N. Kaplan and Bernadette A. Minton
University of Chicago - Booth School of Business and Ohio State University (OSU) - Department of Finance

Abstract:

57.

Do Investment-Cashflow Sensitivities Provide Useful Measures of Financing Constraints?

Posted: 25 Jun 1998
Steven N. Kaplan and Luigi Zingales
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business

Abstract:

58.

Those Japanese Firms with Their Disdain for Shareholders: Another Fable for the Academy

Washington University Law Quarterly, Vol. 74, Issue 2 (1996).
Posted: 19 May 1998
Steven N. Kaplan and J. Mark Ramseyer
University of Chicago - Booth School of Business and Harvard Law School

Abstract:

59.

Entrepreneurial Finance and Private Equity: Course Description and Course Syllabus

Posted: 22 Sep 1997
Steven N. Kaplan
University of Chicago - Booth School of Business

Abstract:

60.

Do Investment Cash-Flow Sensitivities Provide Useful Measures of Financing Constraints?

QUARTERLY J. OF ECONOMICS, Vol. 112 No. 1, February 1997
Posted: 21 Jul 1997
Steven N. Kaplan and Luigi Zingales
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business

Abstract:

61.

The Value-Maximizing Board

Downloads 0 (561,134)

The Value-Maximizing Board

Posted: 09 Jun 1997
Robert H. Gertner and Steven N. Kaplan
University of Chicago - Finance and University of Chicago - Booth School of Business

Abstract:

The Value Maximizing Board

Posted: 20 Sep 1998
Robert H. Gertner and Steven N. Kaplan
University of Chicago - Finance and University of Chicago - Booth School of Business

Abstract:

62.

Paramount Communications, Inc. - 1994

CASENET, SOUTH-WESTERN COLLEGE PUBLISHING
Posted: 26 Mar 1997
Steven N. Kaplan
University of Chicago - Booth School of Business

Abstract:

63.

Paramount Communications Inc. - 1993

CASENET, SOUTH-WESTERN COLLEGE PUBLISHING
Posted: 29 Aug 1996
Steven N. Kaplan
University of Chicago - Booth School of Business

Abstract:

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