Faculty News | New York Times | 25
Amid Attacks on Private Equity, Efforts to Study Its Value
Re: Josh Lerner
As for employees, again the evidence is uncertain. But the most important paper on this issue was made public in 2008, and revised late last year. The authors — Steven J. Davis of the University of Chicago, John Haltiwanger of the University of Maryland, Josh Lerner of Harvard Business School and Ron S. Jarmin and Javier Miranda of the Census Bureau — found that after a private equity acquisition, a company's work force shrank by more than 6 percent on average.