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Showing articles for: July 2017
The Remaking of Wall Street
Since the financial crisis of 2007-09, Wall Street has transformed dramatically. Constrained by post crisis regulatory limits, those investment banks surviving as bank holding companies (BHCs) have curtailed their investment banking and other activities. At the same time, private equity firms - among them, Blackstone, KKR, Apollo and Carlyle -…
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Cost of Experimentation and the Evolution of Venture Capital
The emergence of the "cloud" has had a major impact on the founding and growth of entrepreneurial firms. This new technology began with the introduction of Amazon's Web Services in 2006. It allowed software and internet companies to rent rather than buy powerful computing resources, thus lowering the…
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Team Stability and Performance: Evidence from Private Equity
In the paper “Team Stability and Performance: Evidence from Private Equity”, we empirically study the effect of team stability on performance in a team production environment. The effect of team stability on organizations is ambiguous. Stability (or lower turnover) can induce individuals to invest in relationship specific (team specific) capital…
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