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David T. Robinson
Duke University
FinanceBusinessEconomicsVenture capitalStrategic alliance
79Publications
24H-index
3,551Citations
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Publications 69
Newest
#1Niklas HütherH-Index: 1
#1Niklas Hüther (IU: Indiana University Bloomington)H-Index: 1
Last. Thomas Hartmann-Wendels (University of Cologne)H-Index: 6
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We offer the first empirical analysis connecting the timing of general partner (GP) compensation to private equity fund performance. Using detailed information on limited partnership agreements bet...
1 CitationsSource
#1Gregory W. Brown (UNC: University of North Carolina at Chapel Hill)H-Index: 17
#2Robert S. Harris (UVA: University of Virginia)H-Index: 27
Last. David T. Robinson (Duke University)H-Index: 24
view all 6 authors...
Private equity performance, both for buyouts and venture capital, has been highly cyclical: periods of high fundraising have been followed by periods of low performance. Despite this seemingly predictable variation, we find modest gains, at best, to pursuing realistic, investable strategies that time capital commitments to private equity. This occurs, in part, because investors can only time their commitments to funds; they cannot time when commitments are called or when investments are exited. ...
2 CitationsSource
#1Gregory W. Brown (UNC: University of North Carolina at Chapel Hill)H-Index: 17
#2Robert S. Harris (UVA: University of Virginia)H-Index: 27
Last. David T. Robinson (Duke University)H-Index: 24
view all 6 authors...
This paper provides a first look at newly available data on the holdings of private equity (PE) funds. Because research has been hampered by the lack of comprehensive, high-quality data on portfolio companies, this new source offers the potential for a wide range of research. Provided by Burgiss, a global provider of data and analytics to investors in PE funds (limited partner investors or LPs), the data are gathered from the financial reports of general partners (GPs) to LPs who are Burgiss cli...
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#2David T. Robinson (Duke University)H-Index: 24
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We develop a model of private equity in which many empirical patterns arise endogenously. Our model rests solely on two critical features of this market: moral hazard for General partners (GPs) and illiquidity risk for Limited Partners (LPs). The equilibrium fund structure incentivizes GPs with a share in the fund and compensates LPs with an illiquidity premium. GPs may inefficiently accelerate drawdowns to avoid default by LPs on capital commitments. LPs with higher tolerance to illiquidity the...
Source
#1Anders AndersonH-Index: 5
#2David T. Robinson (Duke University)H-Index: 24
We survey investors and establish a link between adverse weather events and beliefs about future climate calamities. By matching the survey to individual registry data, we study how exposure to climate calamities drives people to make “green” choices. These individuals are more likely to say they recycle more than their neighbors, are willing to pay extra for environmentally friendly products, think green investments outperform, and are willing to pay higher fees for green mutual funds. They als...
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#1Anders AndersonH-Index: 5
#2David T. RobinsonH-Index: 24
Source
#1Anders AndersonH-Index: 5
#2David T. RobinsonH-Index: 24
#1Anders AndersonH-Index: 5
#2David T. Robinson (Duke University)H-Index: 24
We conduct a large scale survey of Swedish households to measure how much they understand about the science behind environmental impact, their financial literacy, as well as their understanding of their own knowledge of these matters. We find only moderate correlation in knowledge between environmental and financial knowledge, but find the correlation of overestimation across domains to be sizable. Overestimation of environmental knowledge crowds out actual knowledge when explaining fears of cli...
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#1Anders AndersonH-Index: 5
#2David T. RobinsonH-Index: 24
#1Anders AndersonH-Index: 5
#2David T. RobinsonH-Index: 24
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