Ludovic Phalippou

University of Oxford - Said Business School

Park End Street

Oxford, OX1 1HP

Great Britain

  • University of Oxford - Said Business School

SCHOLARLY PAPERS

49

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636

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202

Ideas:
“  Currently working on welfare implications of private equity, social impact of business activities, and tech stuff (machine learning, chatgpt)  ”

  • University of Oxford - Said Business School

Scholarly Papers (49)

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1.

An Inconvenient Fact: Private Equity Returns & The Billionaire Factory

University of Oxford, Said Business School, Working Paper
Number of pages: 37 Posted: 15 Jun 2020 Last Revised: 15 Jul 2020
Ludovic Phalippou
University of Oxford - Said Business School
Downloads 27,648 (154)
Citation 29

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Private Equity, Wealth Inequality, Financialization, Benchmarking

2.

Performance of Private Equity Funds

EFA 2005 Moscow Meetings
Number of pages: 50 Posted: 07 Aug 2005 Last Revised: 28 Mar 2008
Ludovic Phalippou and Oliver Gottschalg
University of Oxford - Said Business School and HEC Paris - Strategy & Business Policy
Downloads 17,094 (373)
Citation 24

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Private equity funds, performance

3.

The Hazards of Using IRR to Measure Performance: The Case of Private Equity

Number of pages: 23 Posted: 27 Mar 2008 Last Revised: 23 Sep 2009
Ludovic Phalippou
University of Oxford - Said Business School
Downloads 8,752 (1,219)
Citation 40

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4.

Hilton Hotels: A Case Study in Real Estate Private Equity

Number of pages: 31 Posted: 26 Apr 2014
Ludovic Phalippou
University of Oxford - Said Business School
Downloads 5,201 (2,968)
Citation 1

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5.

A New Method to Estimate Risk and Return of Non-traded Assets from Cash Flows: The Case of Private Equity Funds

Downloads 4,471 ( 3,839)
Citation 62

A New Method to Estimate Risk and Return of Non-traded Assets from Cash Flows: The Case of Private Equity Funds

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming, EFA 2007 Ljubljana Meetings Paper, AFA 2008 New Orleans Meetings Paper, Swedish Institute for Financial Research Conference on The Economics of the Private Equity Market
Number of pages: 50 Posted: 27 Feb 2007 Last Revised: 13 Jan 2015
Joost Driessen, Tse-Chun Lin and Ludovic Phalippou
Tilburg University - Tilburg University School of Economics and Management, The University of Hong Kong - Faculty of Business and Economics and University of Oxford - Said Business School
Downloads 4,005 (4,519)
Citation 2

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Risk exposure, Abnormal return, Private equity

A New Method to Estimate Risk and Return of Non-Traded Assets from Cash Flows: The Case of Private Equity Funds

Netspar Discussion Paper No. 02/2011-121
Number of pages: 51 Posted: 25 May 2012
Joost Driessen, Tse-Chun Lin and Ludovic Phalippou
Tilburg University - Tilburg University School of Economics and Management, The University of Hong Kong - Faculty of Business and Economics and University of Oxford - Said Business School
Downloads 318 (163,744)
Citation 39

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Risk exposure, abnormal return, private equity

A New Method to Estimate Risk and Return of Non-Traded Assets from Cash Flows: The Case of Private Equity Funds

NBER Working Paper No. w14144
Number of pages: 53 Posted: 30 Jun 2008 Last Revised: 26 Aug 2022
Joost Driessen, Tse-Chun Lin and Ludovic Phalippou
Tilburg University - Tilburg University School of Economics and Management, The University of Hong Kong - Faculty of Business and Economics and University of Oxford - Said Business School
Downloads 148 (337,982)
Citation 34

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6.

Estimating Private Equity Returns from Limited Partner Cash Flows

Downloads 4,069 ( 4,494)
Citation 72

Estimating Private Equity Returns from Limited Partner Cash Flows

Columbia Business School Research Paper No. 13-83
Number of pages: 64 Posted: 18 Nov 2013 Last Revised: 22 Jun 2014
Andrew Ang, Bingxu Chen, William N. Goetzmann and Ludovic Phalippou
BlackRock, Inc, Columbia University - Columbia Business School, Finance, Yale School of Management - International Center for Finance and University of Oxford - Said Business School
Downloads 3,051 (7,141)
Citation 28

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Estimating Private Equity Returns from Limited Partner Cash Flows

Netspar Discussion Paper No. 06/2014-021, Saïd Business School WP 2014-8
Number of pages: 44 Posted: 02 Jul 2014 Last Revised: 18 Feb 2017
Andrew Ang, Bingxu Chen, William N. Goetzmann and Ludovic Phalippou
BlackRock, Inc, Columbia University - Columbia Business School, Finance, Yale School of Management - International Center for Finance and University of Oxford - Said Business School
Downloads 1,018 (38,260)
Citation 22

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7.

Investing in Private Equity Funds: A Survey

Number of pages: 22 Posted: 18 Apr 2007
Ludovic Phalippou
University of Oxford - Said Business School
Downloads 4,013 (4,599)
Citation 21

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8.

Private Equity Performance and Liquidity Risk

Downloads 3,934 ( 4,759)
Citation 62

Private Equity Performance and Liquidity Risk

Journal of Finance, Forthcoming, Swiss Finance Institute Research Paper No. 09-43
Number of pages: 80 Posted: 04 Dec 2009 Last Revised: 13 Sep 2012
Francesco A. Franzoni, Eric Nowak and Ludovic Phalippou
Universita della Svizzera italiana (USI Lugano), Swiss Finance Institute and University of Oxford - Said Business School
Downloads 3,315 (6,252)
Citation 5

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Private equity, Liquidity risk, Cost of capital

Private Equity Performance and Liquidity Risk

Netspar Discussion Paper No. 06/2010-024, Journal of Finance, Forthcoming
Number of pages: 65 Posted: 05 Aug 2010 Last Revised: 13 Sep 2012
Francesco A. Franzoni, Eric Nowak and Ludovic Phalippou
Universita della Svizzera italiana (USI Lugano), Swiss Finance Institute and University of Oxford - Said Business School
Downloads 619 (74,675)
Citation 42

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private equity, liquidity risk, cost of capital

9.

Giants at the Gate: Investment Returns and Diseconomies of Scale in Private Equity

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming, AFA 2010 Atlanta Meetings Paper, EFA 2009 Bergen Meetings Paper
Number of pages: 56 Posted: 23 Mar 2009 Last Revised: 17 Jan 2014
Florencio Lopez-de-Silanes, Ludovic Phalippou and Oliver Gottschalg
SKEMA Business School, University of Oxford - Said Business School and HEC Paris - Strategy & Business Policy
Downloads 2,889 (7,890)
Citation 39

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private equity, diseconomies of scale

10.

Institutional Ownership and the Value Premium

EFA 2004 MAASTRICHT
Number of pages: 36 Posted: 25 Jul 2004
Ludovic Phalippou
University of Oxford - Said Business School
Downloads 2,524 (9,729)
Citation 10

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behavioral finance, book-to-market ratio, institutional ownership

11.

Risk and Return of Private Equity: An Overview of Data, Methods and Results

Number of pages: 29 Posted: 05 Mar 2009
Ludovic Phalippou
University of Oxford - Said Business School
Downloads 2,158 (12,522)

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12.

Limited Partners versus Unlimited Machines; Artificial Intelligence and the Performance of Private Equity Funds

Number of pages: 60 Posted: 26 Jun 2023 Last Revised: 06 Sep 2023
Borja Fernández Tamayo, Reiner Braun, Florencio Lopez-de-Silanes, Ludovic Phalippou and Natalia Sigrist
Université Côte d'Azur - SKEMA Business School, Technische Universität München (TUM) - TUM School of Management, SKEMA Business School, University of Oxford - Said Business School and Unigestion SA
Downloads 2,045 (13,684)

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Private equity, performance predictability, natural language processing, machine learning

13.

On Secondary Buyouts

Journal of Financial Economics (JFE), Forthcoming, ECGI - Finance Working Paper No. 384, Swiss Finance Institute Research Paper No. 13-48
Number of pages: 59 Posted: 23 Sep 2013 Last Revised: 09 Oct 2015
Francois Degeorge, Jens Martin and Ludovic Phalippou
University of Lugano - Faculty of Economics, University of Amsterdam - Finance Group and University of Oxford - Said Business School
Downloads 1,982 (14,364)
Citation 14

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Private equity, buyouts, performance, secondary buyouts

14.

Why is the Evidence on Private Equity Performance So Confusing?

Number of pages: 13 Posted: 15 Jun 2011 Last Revised: 27 Oct 2011
Ludovic Phalippou
University of Oxford - Said Business School
Downloads 1,948 (14,768)
Citation 6

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15.

Private Equity Portfolio Company Fees

Saïd Business School WP 2015-22
Number of pages: 76 Posted: 15 Dec 2015 Last Revised: 02 May 2016
Ludovic Phalippou, Christian Rauch and Marc P. Umber
University of Oxford - Said Business School, Umm Al Quwain University and Frankfurt School of Finance & Management
Downloads 1,935 (14,927)
Citation 30

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Private Equity, Monitoring Fees, Transaction Fees, Compensation, Corporate Governance, Leveraged Buy-Out

16.

Is Yale a Model?

Number of pages: 7 Posted: 28 Oct 2011 Last Revised: 14 Nov 2011
Ludovic Phalippou
University of Oxford - Said Business School
Downloads 1,863 (15,797)
Citation 1

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17.

Beware of Venturing into Private Equity

Journal of Economic Perspectives, Forthcoming
Number of pages: 25 Posted: 11 Jul 2007 Last Revised: 28 Sep 2009
Ludovic Phalippou
University of Oxford - Said Business School
Downloads 1,775 (17,056)
Citation 7

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18.

Performance of Buyout Funds Revisited?

Number of pages: 37 Posted: 07 Dec 2011 Last Revised: 15 Nov 2012
Ludovic Phalippou
University of Oxford - Said Business School
Downloads 1,713 (18,023)
Citation 12

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Private equity returns

19.

A Private Equity Course

Number of pages: 6 Posted: 13 Apr 2021
Ludovic Phalippou
University of Oxford - Said Business School
Downloads 1,304 (27,157)

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MBA teaching, Private Equity

20.

Thematic Investing With Big Data: The Case of Private Equity

Number of pages: 15 Posted: 07 Feb 2022 Last Revised: 13 Mar 2023
Ludovic Phalippou
University of Oxford - Said Business School
Downloads 1,272 (28,241)

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Private Equity, Thematic Investing, Big Data, Natural Langage Processing

21.

How Far Can Financial Acumen Push Positive Social Impact? The Case of the Redevelopment of Spofford in the Bronx

Number of pages: 15 Posted: 29 Mar 2021 Last Revised: 18 May 2023
Ludovic Phalippou
University of Oxford - Said Business School
Downloads 1,189 (31,112)

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Valuation, Real Estate, Social Impact, Debt structure, capital structure, financial modeling, big project management, public private partnership

22.

Decomposing Value Gains - The Case of the Best Leveraged Buy-Out ever

University of Oxford, Said Business School, Working Paper, 2022
Number of pages: 31 Posted: 07 Jun 2022 Last Revised: 28 Oct 2022
Neroli Austin and Ludovic Phalippou
University of Michigan, Stephen M. Ross School of Business and University of Oxford - Said Business School
Downloads 1,168 (32,002)

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Private equity

23.

Thirty Years After Jensen’s Prediction – Is Private Equity a Superior Form of Ownership?

Number of pages: 30 Posted: 16 Dec 2019
Ludovic Phalippou and Peter Morris
University of Oxford - Said Business School and Independent
Downloads 1,147 (32,762)
Citation 7

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24.

The Future of Private Markets

Number of pages: 6 Posted: 01 May 2018 Last Revised: 14 Jul 2018
Ludovic Phalippou
University of Oxford - Said Business School
Downloads 1,128 (33,554)

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private equity, corporate governance, regulation, private markets

25.

The Association between the proportion of Brexiters and COVID-19 Death Rates in England

Number of pages: 26 Posted: 05 Nov 2021 Last Revised: 07 Mar 2023
Ludovic Phalippou and Betty H.T. Wu
University of Oxford - Said Business School and University of Glasgow Adam Smith Business School
Downloads 1,104 (34,542)

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Brexit vote, COVID-19, Polarization, Political Trust

26.

Mutual Funds and the Market for Liquidity

Downloads 1,039 (37,742)
Citation 5

Mutual Funds and the Market for Liquidity

Number of pages: 47 Posted: 09 Apr 2005
Ludovic Phalippou and Massimo Massa
University of Oxford - Said Business School and INSEAD - Finance
Downloads 1,011 (38,637)
Citation 8

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Mutual funds, liquidity

Mutual Funds and the Market for Liquidity

Number of pages: 46 Posted: 08 Apr 2005
Ludovic Phalippou and Massimo Massa
University of Oxford - Said Business School and INSEAD - Finance
Downloads 28 (837,371)
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Mutual funds, liquidity

27.

The Queen's College at Oxford and the World of Asset Owners

Number of pages: 31 Posted: 10 Jun 2016
Ludovic Phalippou
University of Oxford - Said Business School
Downloads 1,023 (38,570)

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28.

The Importance of Size in Private Equity: Evidence from a Survey of Limited Partners

Downloads 988 (40,524)
Citation 24

The Importance of Size in Private Equity: Evidence from a Survey of Limited Partners

Journal of Financial Intermediation, Forthcoming, ECGI - Finance Working Paper
Number of pages: 33 Posted: 16 Jan 2014 Last Revised: 18 Jul 2016
Marco Da Rin and Ludovic Phalippou
Tilburg University, Department of Finance and University of Oxford - Said Business School
Downloads 613 (75,591)
Citation 10

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Institutional Investors; Limited Partners; Investor Heterogeneity; Due Diligence; Private Equity.

The Importance of Size in Private Equity: Evidence from a Survey of Limited Partners

Journal of Financial Intermediation, Forthcoming, TILEC Discussion Paper
Number of pages: 33 Posted: 22 Feb 2014 Last Revised: 05 Sep 2017
Marco Da Rin and Ludovic Phalippou
Tilburg University, Department of Finance and University of Oxford - Said Business School
Downloads 375 (136,755)
Citation 4

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Institutional Investors; Limited Partners; Investor Heterogeneity; Due Diligence; Private Equity.

29.

Private Equity Funds’ Performance, Risk and Selection

EDWARD ELGAR'S RESEARCH HANDBOOK ON HEDGE FUNDS, PRIVATE EQUITY AND ALTERNATIVE INVESTMENTS, Phoebus Athanassiou, ed., Forthcoming
Number of pages: 36 Posted: 09 Jul 2010
Ludovic Phalippou
University of Oxford - Said Business School
Downloads 934 (43,845)
Citation 1

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30.

Employee Views of Leveraged Buy-Out Transactions

Number of pages: 65 Posted: 20 Sep 2021 Last Revised: 15 Nov 2021
Marie Lambert, Nicolas Moreno, Ludovic Phalippou and Alexandre Scivoletto
University of Liège - HEC Liège, HEC Liège, Management School of the University of Liège, University of Oxford - Said Business School and University of Liège - HEC Liège
Downloads 866 (48,728)
Citation 2

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ESG, big data, crowdsourcing, private equity, buyout, mergers & acquisitions

31.

Private Equity Portfolio Company Fees

Number of pages: 76 Posted: 15 Dec 2015 Last Revised: 17 Mar 2016
Ludovic Phalippou, Christian Rauch and Marc P. Umber
University of Oxford - Said Business School, Umm Al Quwain University and Frankfurt School of Finance & Management
Downloads 832 (51,377)
Citation 7

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32.

A New Approach to Regulating Private Equity

Number of pages: 33 Posted: 18 Feb 2011 Last Revised: 01 Dec 2011
Peter Morris and Ludovic Phalippou
Independent and University of Oxford - Said Business School
Downloads 832 (51,377)
Citation 3

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33.

An Evaluation of the Potential for GPFG to Achieve above Average Returns from Investments in Private Equity and Recommendations Regarding Benchmarking

Number of pages: 80 Posted: 13 Apr 2011
Ludovic Phalippou
University of Oxford - Said Business School
Downloads 826 (51,915)
Citation 3

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private equity

34.

Capital Commitment

Downloads 795 (54,654)
Citation 3

Capital Commitment

Netspar Discussion Paper No. 06/2014-035
Number of pages: 78 Posted: 02 Sep 2014 Last Revised: 12 Jan 2022
Elise Gourier, Ludovic Phalippou and Mark M. Westerfield
ESSEC Business School, University of Oxford - Said Business School and University of Washington
Downloads 791 (54,214)
Citation 1

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Capital commitment, private equity, commitment risk, liquidity premium

Capital Commitment

CEPR Discussion Paper No. DP16910
Number of pages: 81 Posted: 14 Feb 2022
Elise Gourier, Ludovic Phalippou and Mark M. Westerfield
ESSEC Business School, University of Oxford - Said Business School and University of Washington
Downloads 4 (1,070,676)
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Capital commitment, commitment risk, liquidity premium, private equity

35.

Acquiring Acquirers

Review of Finance, Vol. 19, pp. 1489-1541, 2015, AFA 2013 San Diego Meetings Paper
Number of pages: 58 Posted: 15 Mar 2012 Last Revised: 12 Apr 2016
Ludovic Phalippou, Fangming Xu and Huainan Zhao
University of Oxford - Said Business School, University of Bristol and Loughborough University - School of Business and Economics
Downloads 719 (62,501)
Citation 3

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Mergers and Acquisitions, Takeovers, Acquirer Announcement Returns

36.

Modifying The Carried Interest To Do What It Is Said To Do

Number of pages: 8 Posted: 15 Feb 2019 Last Revised: 21 Feb 2019
Ludovic Phalippou
University of Oxford - Said Business School
Downloads 711 (63,445)

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private equity, incentives alignment, carried interest

37.

A Note on Carried Interest in Private Equity

Number of pages: 15 Posted: 06 Aug 2015 Last Revised: 21 Aug 2015
Ludovic Phalippou
University of Oxford - Said Business School
Downloads 653 (70,729)

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38.

Venture Capital Funds: Performance Persistence and Flow-Performance Relation

EFA 2008 Athens Meetings Paper, Journal of Banking and Finance, Forthcoming
Number of pages: 42 Posted: 06 Mar 2008 Last Revised: 18 Sep 2009
Ludovic Phalippou
University of Oxford - Said Business School
Downloads 587 (80,728)
Citation 15

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Venture Capital Funds, Performance Persistence, Flow-Performance

39.

Liquidity Provision in the Secondary Market for Private Equity Fund Stakes

Number of pages: 61 Posted: 06 Jun 2018 Last Revised: 20 Nov 2018
Rui A. Albuquerque, Johan Cassel, Ludovic Phalippou and Enrique J. Schroth
Boston College, Carroll School of Management, Vanderbilt University - Owen Graduate School of Management, University of Oxford - Said Business School and EDHEC Business School
Downloads 572 (83,401)
Citation 6

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Private Equity, Secondary Markets, Liquidity, Liquidity Premium, Net Asset values

40.

Can Recent Risk-Based Theories Explain the Value Premium?

EFA 2006 Zurich Meetings
Number of pages: 29 Posted: 16 Mar 2006
Ludovic Phalippou
University of Oxford - Said Business School
Downloads 501 (98,287)
Citation 6

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41.

Seller Debt in Acquisitions of Private Firms: A Security Design Approach

Forthcoming at Review of Financial Studies.
Number of pages: 48 Posted: 07 Jan 2021 Last Revised: 31 Aug 2023
Mark Jansen, Thomas H. Noe and Ludovic Phalippou
University of Utah - Department of Finance, University of Oxford - Said Business School and University of Oxford - Said Business School
Downloads 442 (114,146)

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Security design, private capital, private asset acquisition, asymmetric information, seller financing, screening equilibrium, tranching, disagreement

42.

How Deadly Is Financial Leverage? Evidence from Care Homes during the COVID-19 Crisis

Number of pages: 64 Posted: 09 Feb 2022
Peter Morris, Ludovic Phalippou and Betty H.T. Wu
Independent, University of Oxford - Said Business School and University of Glasgow Adam Smith Business School
Downloads 367 (141,198)

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43.

Limited Partnerships Agreement Negotiations: A Role Play

Number of pages: 11 Posted: 18 Apr 2023 Last Revised: 13 May 2023
Ludovic Phalippou
University of Oxford - Said Business School
Downloads 275 (191,647)

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Limited Partnership Agreements, Private Equity Funds, Growth Capital Funds, Emerging Market Investing, Carried Interest, Management Fees, Portfolio Company Fees, Investment Restrictions, Negotiation Dynamics, Limited Partners, General Partners, Fundraising Dynamics

44.

Debt in Private Equity Deals: A Role Play

Number of pages: 6 Posted: 17 Apr 2023
Ludovic Phalippou
University of Oxford - Said Business School
Downloads 200 (260,269)

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Capital structure, Debt covenants, Debt capacity, Debt pricing, Term loans, Senior and Junior debt, Mezzanine, Management Buy-In, Negotiation dynamics, Credit committees

45.

Should Private Companies Have the Same SEC Disclosure Requirements as Public Companies? A Debate

Number of pages: 12 Posted: 10 Oct 2022
Gregory Brown and Ludovic Phalippou
Independent and University of Oxford - Said Business School
Downloads 160 (316,242)

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46.

Online Appendix for 'Seller Debt in Acquisitions of Private Firms: A Security Design Approach'

Number of pages: 68 Posted: 21 Apr 2021 Last Revised: 18 Jul 2023
Mark Jansen, Thomas H. Noe and Ludovic Phalippou
University of Utah - Department of Finance, University of Oxford - Said Business School and University of Oxford - Said Business School
Downloads 73 (547,786)

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Security design, private capital, private asset acquisition, asymmetric information, seller financing, screening equilibrium, tranching, disagreement

47.

The Cost of Mass Gatherings During a Pandemic

SSM-Population Health (2023): 101460.
Number of pages: 19 Posted: 23 Jul 2023 Last Revised: 04 Aug 2023
Ludovic Phalippou and Dayin Zhang
University of Oxford - Said Business School and University of Wisconsin-Madison
Downloads 40 (722,854)

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BLM protests, COVID-19, Rainfall, Mass gathering

48.

The Performance of Private Equity Funds

The Review of Financial Studies, Vol. 22, Issue 4, pp. 1747-1776, 2009
Posted: 23 Mar 2009
Ludovic Phalippou and Oliver Gottschalg
University of Oxford - Said Business School and HEC Paris - Strategy & Business Policy

Abstract:

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G23, G24

49.

Where is the Value Premium?

Financial Analysts Journal, Vol. 64, No. 2, 2008
Posted: 18 May 2008
Ludovic Phalippou
University of Oxford - Said Business School

Abstract:

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Portfolio Management, Equity Strategies, Asset Allocation, Equity Investments, Fundamental Analysis and Valuation Models