TY - JOUR T1 - An Empirical Analysis of Investment Return Dispersion in Emerging Market Private Equity JF - The Journal of Private Equity SP - 15 LP - 24 DO - 10.3905/jpe.2017.20.4.015 VL - 20 IS - 4 AU - Josh Lerner AU - Mark Baker Y1 - 2017/08/31 UR - https://pm-research.com/content/20/4/15.abstract N2 - The authors use transaction-level data to compare the dispersion of private equity (PE) returns in emerging markets (EMs) to the same in developed markets (DMs). They regress within-market absolute deviation from the mean on an EM indicator and controls. They find evidence suggesting that the distribution of transaction-level TVPI has lower variance within EMs than within DMs, although with some caveats. The results suggest opportunities for further research exploring the relative riskiness of EM PE.TOPICS: Private equity, emerging, performance measurement, statistical methods ER -