We study short-term changes in customer visits to retail outlets around the announcement of private equity (PE) acquisitions, using aggregated and anonymized mobile phone data covering approximately ten percent of all mobile devices in the United States. Given the monthly frequency of the data,...

The amount of funds committed to private equity sponsors that are left uninvested (called dry powder) has raised numerous concerns from the public. We model the fee collection of private equity sponsors and show that funds tend to underlever future deals when they accumulate substantial amounts...