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Booth School of Business
Stockholm School of Economics

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Lecture of Dr. Per Stromberg The past, present and future of private equity"

Biography

Booth School of Business
ADJUNCT PROFESSOR OF FINANCE

Per Strömberg studies venture capital and entrepreneurial finance, costs of bankruptcy and financial distress, and corporate finance and governance. Strömberg is the SSE Centennial Professor of Finance and Private Equity at the Stockholm School of Economics. He is a research affiliate of the Center for Economic Policy Research (CEPR), a research fellow of the European Corporate Governance Institute (ECGI), and a member of the Royal Swedish Academy of Sciences and the Royal Swedish Academy of Engineering Sciences. In addition, he is a member of the prize committee for the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.

Strömberg's research has been acknowledged by the 2001, 2009, and 2014 Brattle Group Prizes for best corporate finance paper published in the Journal of Finance, the 2004 NASDAQ award for best paper on capital formation at the Western Finance Association meetings, the 2006 Researcher of the Year award at the Stockholm School of Economics, the JFI Stuart Greenbaum Prize for the most significant paper published in the Journal of Financial Intermediation in 2007, and the ECGI Standard Life Annual Finance Prize for best corporate governance paper in 2013. In 2011 he was awarded the Assar Lindbeck Medal, given bi-annually to an economist active in Sweden below the age of 45.

Strömberg’s teaching has been acknowledged with best teaching awards in the University of Chicago Booth European and/or Asian executive MBA programs in 2004, 2005, 2006, 2013, 2014, 2015 and 2016, and the teacher of the year award at the Stockholm School of Economics in 2013.

Apart from his academic appointments, Dr. Strömberg is a board member of the Sixth AP Fund, a public pension fund focused on private equity investments.

Strömberg earned an MBA in finance from the Stockholm School of Economics in 1991. He earned a master's degree in industrial administration in 1993 and a PhD in finance in 1997, both from Carnegie Mellon University.

PUBLICATIONS

"Conflicts of Interest and Market Illiquidity in Bankruptcy Auctions: Theory and Tests," Journal of Finance (2000).

With S. Kaplan, "Financial Contracting Theory Meets the Real World: An Empirical Analysis of Venture Capital Contracts," Review of Economic Studies (2003).

With S. Kaplan and B. Sensoy, "Should investors bet on the jockey or the horse? Evidence from the evolution of firms from early business plans to public companies," Journal of Finance (2010).

With U. Axelson and M. Weisbach, "Why are buyouts levered? The financial structure of private equity funds," Journal of Finance (2010).

With J. Lerner and M. Sorensen, "Private equity and long-run investment: The case of innovation," Journal of Finance (forthcoming).

Stockholm School of Economics
Professor

Per Strömberg is the SSE Centennial Professor of Finance and Private Equity at the Stockholm School of Economics. He is currently the holder of the Ragnar and Torsten Söderberg Professorship in Economics 2014-2018. He is also Adjunct Professor of Finance at the University of Chicago Booth School of Business. He received his Ph.D. in Financial Economics from Carnegie Mellon University and holds an MBA (civilekonom) from the Stockholm School of Economics. Dr Strömberg’s research has primarily focused on the two areas of bankruptcy and private equity finance. His work has been published in Journal of Finance, American Economic Review, Review of Economic Studies, Review of Financial Studies, and Journal of Financial Intermediation and has been presented at numerous conferences and universities. His research was been twice awarded with the Brattle Group Prize for best corporate finance paper published in the Journal of Finance in 2001 and 2009, and the 2007 Stuart Greenbaum Award for the best paper published in the Journal of Financial Intermediation. In 2006 he was received the “Researcher of the Year” award at the Stockholm School of Economics, and in 2012 he received the Assar Lindbeck Medal, given every other year to a Swedish economist below the age of 45. He is a research fellow at CEPR and ECGI, and a member of the Royal Swedish Academy of Science (KVA) and the Royal Swedish Academy of Engineering Sciences (IVA. He is also a current member of the prize committee for the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.

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