Secrets of the academy: The drivers of university endowment success

Journal of Economic Perspectives

Volumn 22, Issue 3, 2008, Pages 207-222

  Lerner, Josh ^a,d   Schoar, Antoinette ^b,d   Wang, Jialan ^c  

^a HARVARD BUSINESS SCHOOL   (United States)

^b MASSACHUSETTS INSTITUTE OF TECHNOLOGY   (United States)

^c MASSACHUSETTS INSTITUTE OF TECHNOLOGY   (United States)

^d NATIONAL BUREAU OF ECONOMIC RESEARCH   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 51149098978     PISSN: 08953309     EISSN: None     Source Type: Journal    
DOI: 10.1257/jep.22.3.207     Document Type: Review

References (18)

1. Advisory Committee on Endowment Management. 1969. Managing Educational Endowments: Report to the Ford Foundation. New York: Ford Foundation.
2. Brown, Keith C., Lorenzo Garlappi, and Cristian Ioan Tiu. 2007. "The Troves of Academe: Asset Allocation, Risk Budgeting, and the Investment Performance of University Endowment Funds." Available at SSRN: http://ssrn.com/abstract=981436.
3. Buckman, Rebecca. 2007. "Venture Firms vs. Investors: Yale and the Like Quietly Cite Pressure to Back Offbeat Funds." Wall Street Journal, August 28, C1ff.
4. Carlson, Scott. 2007. "A House Divided." Chronicle of Higher Education, 53 (June 29): A20-A22.
5. Farrell, Elizabeth. 2007. "Is Bigger Any Better?" Chronicle of Higher Education, 54 (November 23): A23-A24.
6. Gompers, Paul, and Josh Lerner. 2000. "Money Chasing Deals? The Impact of Fund Inflows on Private Equity Valuation." Journal of Financial Economics, 55(2): 281-325.
7. Grant, Peter, and Rebecca Buckman, 2006. "Fatter Pay Lures University Endowment Chiefs: Stanford Loses Fund Manager; McCaffery Leaves for Start-Up with Paul Alien." Wall Street Journal, June 27, C1ff.
8. Hoover, Eric. 2007. "Harvard's New Aid Policy Raises Stakes." Chronicle of Higher Education, 54 (December 21): A4.
9. Kaplan, Steven N., and Antoinette Schoar. 2005. "Private Equity Performance: Returns, Persistence and Capital Flows." Journal of Finance, 60(4), 1791-1823.
10. Karmin, Craig, and Gergory Zuckerman. 2007. "Why Harvard is Smarting." Wall Street Journal, August 1, C1ff.
11. Lerner, Josh. 2007. 'Yale University Investments Office: August 2006." Harvard Business School Case No. 9-807-073.
12. Lerner, Josh, Antoinette Schoar, and Wan Wongsunwai. 2007. "Smart Institutions, Foolish Choices? The Limited Partner Performance Puzzle." Journal of Finance, 62(2): 731-64.
13. Ljungqvist, Alexander, Matthew P. Richardson, and Daniel Wolfenzon, 2007. "The Investment Behavior of Buyout Funds: Theory and Evidence." ECGI - Finance Working Paper No. 174/2007, European Corporate Governance Institute.
14. Sender, Henny. 2007. "How a Gulf Petro-State Invests Its Oil Riches." Wall Street Journal, August 24, A1ff.
15. Seward, Zachary M. 2005. "Harvard's Billion-Dollar Man Departs." Forbes.com. http://www.forbes.com/2005/06/29/harvard-management- meyer-cx_zs_0629harvardl.html.
16. Shea, Christopher. 1995. "At U. of Rochester, Bad Times Prompt Bold Measures." The Chronicle of Higher Education, 42 (December 15), A33ff.
17. Time Magazine. 1974. "Manifold Effects of Hard Times." December 4, p. 104.
18. Yale University Investment Office. 2006. The Yale Endowment-2005. New Haven: Yale University.