NATIONAL BUREAU OF ECONOMIC RESEARCH

 

The New World of Private Equity Pre-conference

 

October 5, 2007

 

Joshua Lerner and Per Stromberg, Organizers

 

NBER

2nd Floor Conference Room

1050 Massachusetts Avenue

Cambridge, Massachusetts

 

PRELIMINARY PROGRAM

 

 8:30 am          Shuttle Van Departs from The Royal Sonesta Hotel for 1050 Mass. Avenue

 

 8:45 am          Continental Breakfast

 

 9:15 am          ULF AXELSON, Stockholm Institute for Financial Research

TIM JENKINSON, Oxford University

PER STRÖMBERG, Stockholm Institute for Financial Research and NBER

MICHAEL WEISBACH, University of Illinois at Urbana-Champaign and NBER

Leverage and Pricing in Buyouts: An Empirical Analysis     

 

 9:45 am          TOBY STUART and SOOJIN YIM, Harvard University

Board Interlocks and the Propensity to be Targeted in Private Equity Transactions

 

10:15 am         Break

 

10:30 am         JOOST DRIESSEN, TSE-CHUN LIN and LUDOVIC PHALIPPOU,

University of Amsterdam

Measuring the Risk of Private Equity Funds: A New Approach

 

11:00 am         ALEXANDER PETER GROH, University of Navarra

OLIVER GOTTSCHALG, HEC School of Management

Measuring the Risk-Adjusted Performance of US Buyouts 

 

11:30 am         Break

 

11:45 am         SHOURUN GUO and EDIE HOTCHKISS, Boston College

WEIHONG SONG, University of Cincinnati

Do Buyouts (Still) Create Value?      

 

12:15 pm         STEVE KAPLAN, University of Chicago and NBER

MARK KLEBANOV, University of Chicago

MORTEN SORENSEN, University of Chicago and NBER

Which CEO Characteristics and Abilities Matter?    

 

12:45 pm         Lunch

 

 1:45 pm          SHARON P. KATZ, Harvard University

Earnings Management and Conservatism: The Role of Private Equity Sponsors

 

 2:15 pm          STEVEN DAVIS, University of Chicago and NBER

JOHN HALTIWANGER, University of Maryland and NBER

RON JARMIN, Bureau of the Census

JOSHUA LERNER, Harvard University and NBER

JAVIER MIRANDA, Bureau of the Census

Private Equity and Employment        

 

 2:45 pm          Break

 

 3:00 pm          PHILLIP LESLIE and PAUL OYER, Stanford University and NBER

Managerial Incentives and Strategic Change: Evidence from Private Equity          

 

 3:30 pm          ALEXANDER LJUNGQVIST, New York University

MATTHEW RICHARDSON and DANIEL WOLFENZON, New York University and NBER

The Investment Behavior of Buyout Funds: Theory and Evidence  

 

 4:00 pm          Adjourn

 

 4:15 pm          Shuttle Vans Depart from 1050 Mass. Avenue for The Royal Sonesta

 

 6:00 pm          Group Dinner

                        Dante at the Royal Sonesta Hotel

 

 

 

 

 

10/1/07