Does Fund Size Affect Private Equity Performance? Evidence from Donation Inflows to Private Universities
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Do returns in private equity (PE) rise or fall with fund scale? This question is increasingly urgent amid larger funds and new focus on the retail market. Since better managers can raise larger funds, the causal effect is difficult to identify. We develop an instrument based on gifts to universities
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美国国家经济研究局创建时间：
2025-03-01
