NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Private Equity and Long-Run Investment: The Case of Innovation

Josh Lerner, Morten Sørensen, Per Strömberg

NBER Working Paper No. 14623
Issued in December 2008

---- Acknowledgements -----

We thank Geraldine Kim, Jodi Krakower, Sanjey Sivanesan, and especially Sarah Woolverton for assistance with this project. The World Economic Forum and Harvard Business School's Division of Research provided financial support for this research. We are grateful for helpful comments from participants in the American Economic Association, NBER Summer Institute, and Western Finance Association meetings, the World Economic Forum "Global Economic Impact of Private Equity" project, and various seminar participants, especially Bronwyn Hall, Laura Lindsey, Mark Schankerman and John van Reenen. All errors and omissions are our own. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.

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