Browsing HBS Scholarly Articles by Author "Fang, Lily"

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The Disintermediation of Financial Markets: Direct Investing in Private Equity

Fang, Lily; Ivashina, Victoria; Lerner, Joshua (Elsevier, 2015-02-19)

We examine twenty years of direct private equity investments by seven large institutions. These direct investments perform better than public market indices, especially buyout investments and those made in the 1990s. ...
Intellectual Property Rights Protection, Ownership, and Innovation: Evidence from China

Fang, Lily; Lerner, Joshua; Wu, Chaopeng (2017-03-22)

Using a difference-in-difference approach, we study how intellectual property right (IPR) protection affects innovation in China in the years around the privatizations of state-owned enterprises (SOEs). Innovation increases ...