Studies related to the measurement of accounting numbers have tended to focus on accounting as it relates to: changes in equity values; equity valuation; estimation of the cost of equity capital; and, prediction of equity earnings. I propose and justify a perspective for financial accounting...

We examine variation in the reporting quality of private equity funds, in particular buyout and venture capital funds, relative to external monitoring, third-party service providers, and fund attributes. In contrast to evidence from public markets, we find limited evidence that investors affect...

We respond to questions and comments we have received from numerous colleagues on the approach we developed for evaluating the reliability of accounting-based measures of the expected rate of return (i.e., ERR) on equity capital. First, we clarify the two implicit assumptions underlying the use...

This article reviews the academic literature on monitoring in private equity. Monitoring in private equity funds encompasses oversight or governance over the fund’s general partner (GP, who manages the fund) for the benefit of the fund’s limited partners (LPs, who invest in the fund). The...