in The Review of Financial Studies
November 2013; p ublished online August 2013 .
Journal Article. Subjects: Wages, Compensation, and Labour Costs; Financial Institutions and Services; Investment Banking; Corporate Governance. 18689 words.
We study the relations between management contract terms and performance in private equity using new data for 837 funds from 1984–2010. We find no evidence that higher fees or lower...