The Private-Equity Firm: Friend or Foe of the U.S. Economy?
Oct 02, 2012
from 12:45 PM to 02:15 PM
|Where||151 E. 25th St. Room 750|
|Contact Name||Matthew LePere|
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About the Program
Private-Equity (PE) firms play a unique role in the economy, acting as financial sponsors of American corporations. When they take an ownership stake in a company, PE firms bring capital and expertise. In the shadow of the 2012 Presidential Election, many are asking who benefits from the actions of PE firms.
Those who are critical of PE firms cite special tax breaks, including the “carried interest” rule, that allow PR firms to treat their profits as lightly taxed capital gain. Defenders, point out that PE firms make money for their investors, many of whom are college endowment funds and teachers’ pension funds that represent ordinary people.
Who is telling the truth? Are PE firms "vulture-capitalists," moving jobs from America to overseas at the expense of the middle class? Or are they "creative-destroyers," who make companies and the economy more efficient, raising U.S. GDP and, ultimately, creating prosperity for all? Our guest speaker, Professor Aswath Damodaran of NYU’s Stern School of Business, will address these questions and others as we attempt to identify the PE firm as a friend or a foe of the U.S. Economy.
About the Speaker
Aswath Damodaran holds the Kerschner Family Chair in Finance Education and is Professor of Finance at New York University Stern School of Business. Before coming to Stern, he also lectured in Finance at the University of California, Berkeley.
Professor Damodaran received a B.A. in Accounting from Madras University and a M.S. in Management from the Indian Institute of Management. He earned an M.B.A. (1981) and then Ph.D. (1985), both in Finance, from the University of California, Los Angeles.
Professor Damodaran's contributions to the field of Finance have been recognized many times over. He has been the recipient of Giblin, Glucksman, and Heyman Fellowships, a David Margolis Teaching Excellence Fellowship, and the Richard L. Rosenthal Award for Innovation in Investment Management and Corporate Finance.
In addition to myriad publications in academic journals, Professor Damodaran is the author of several highly-regarded and widely-used academic texts on Valuation, Corporate Finance, and Investment Management.
Professor Damodaran currently teaches Corporate Finance and Equity Instruments & Markets. His research interests include Information and Prices, Real Estate, and Valuation.
A light lunch will be served beginning at 12:00 p.m.
The presentation will run from approximately 12:45 to 2:15 p.m.