Master Thesis supported by the Centre

Master Thesis supported by the Centre

The centre has directly supported twelve master thesis at NHH with data from the database or through the purchase of data from Prequin. Several of them have won Argentum’s annual prize for the best thesis on Private Equity in Norway. The Centre has also made its database (as much as permitted by the data provides) to master students in other schools in Norway, including BI and UiA.

Master Thesis up to Dec 2015, links are included for those that are available online.

Understanding Private Equity Performance: A Review of Dynamics Driving Fund Performance”, Olav Aurdal and Ørjan Mydland Grønsund, 2015.
This thesis investigates the performance of PE funds using Prequin data.

“Private Equity Zombie Funds : performance and fund characteristics : An empirical analysis of the global private equity market”, Martin Eidesen and Bertine Erla, 2015.
This thesis comprehensively investigates the “zombie-fund” phenomenon using Prequin data.

“Corporate Governance in Private Equity: Do Boards Really Matter?“,
Hedi Farran,& Kim Lâm, 2015
This thesis asks how important the board is as a channel in order to influence PE owned companies but finds little evidence that this route seems to be important for GPs.

“The Impact of Buyouts on Company Performance: Evidence from Norway”,   
Tobias Friedrich, T. (2015).
This thesis compares various aspects of performance of PE owned companies and compares the performance with comparable non-PE owned companies.

“Tax Planning in Norwegian Private Equity-Backed Companies”,
Andrea Roald and Tonje Roti, 2015.
This thesis investigates whether PE owned companies exhibit a larger propensity to engage in tax planning than other privately owned firms, but find no significant evidence apart from higher leverage ratios.

“The impact of a Strong Principal on CEO Contract Design and Board Composition in the Nordics”. Morten Birkevold, 2015
This thesis investigates the PE fund has on the portfolio company’s CEO’s contract.

“The Bullshit Effect in Private Equity Fundraising”,
Charlotte Wallem Rakner and Anne Therese Samdal Rasmussen, 2013.
Recipient of the Argentum Prize for the best Master Thesis on PE at NHH in 2013.
This thesis shows that GPs seem to systematically manage valuations around funding raising dates.

“The counter effect of leverage in private equity: an empirical study of Norwegian private equity acquisitions” Hilde Karin Sæberg, 2014
Recipient of the Argentum Prize for the best Master Thesis on PE at NHH in 2014.
This thesis analyses the pricing of PE transaction in Norway.

“The Specialization Effect in Private Equity : an empirical analysis”
Knud Kloster and Sigurd Moksnes Røthe, 2014.
This thesis investigates whether fund specialization affects fund success.

“Private equity buyouts in Norway: inferring company valuations from public financial statements, and an analysis of the Norwegan buyout market”
Magnus Nestor Robberstad, 2013.
This thesis attempts to investiage whether transaction prices from PE deals can be inferred from public financial statements.

“Private equity-backed firms' performance post IPO: an empirical study of private equity- and venture capital funds' ability to facilitate abnormal returns at the Norwegian stock market”.
Espen Norill Hagen and Simen Føllesdal, 2013.
This thesis looks at the amount of underpricing and the long-run performance of PE backed IPOS and compares them to firms that were not PE backed.

“Post IPO performance of private equity backed entities: empirical evidence of the Nordic market”
Preben Fjellaker Mathisen and Pedro Ornelas Camas, 2012.