Yan Alperovych

Yan Alperovych
emlyon business school | EMLYON · Accounting and Finance

PhD in Economics and Management Science

About

24
Publications
2,875
Reads
How we measure 'reads'
A 'read' is counted each time someone views a publication summary (such as the title, abstract, and list of authors), clicks on a figure, or views or downloads the full-text. Learn more
207
Citations
Introduction
I am currently with EMLYON Business School where I conduct research in Corporate and Entrepreneurial Finance and teach related subjects (e.g. Corporate Finance, Venture Capital, Corporate Valuation). My current research projects span topics like venture capital syndication, LBO financing, financial literacy of entrepreneurs, and the role of rumors in private M&A transactions.
Additional affiliations
September 2011 - present
emlyon business school
Position
  • Professor (Associate)
Education
September 2006 - April 2011
University of Liège
Field of study
  • Doctoral program in Economics and Management Science
September 2005 - August 2006
University of Liège
Field of study
  • DEA (research master) in management
September 2004 - August 2005
University of Liège
Field of study
  • DES (master) in management

Publications

Publications (24)
Article
Using a dataset comprising 88 Private Equity (PE) backed Leveraged Buyouts (LBOs) completed and exited during the period 1999–2008, this study sheds new light on the impact of buyout vendor source and PE investor experience on post-buyout efficiency during the first 3 years after the transaction. There are three main findings. First, we observe inc...
Article
We investigate the implications of venture capital (VC) investor type (government or private) on the operating efficiency of a sample of 515 Belgian portfolio firms up to 3 years after the investment. We find that the government VC-backed firms display significant reductions in productivity. No significant differences in efficiency are found in fir...
Article
Governmental venture capital funds (GVCs) are created by policymakers around the world to support young innovative companies (YICs) with the aim of “bridging the equity gap”. In this paper, we study the heterogeneity in the design of GVC programs in Europe and identify the design features that are most effective in achieving the desired outcomes of...
Article
We provide an overview of the systematic evidence relating to the impact of private equity (PE) backed buyouts over the last two decades. We focus on performance; employment and employee relations; innovation, investment and entrepreneurship; longevity and survival. We also explore a future research agenda in the context of a maturing PE industry.
Article
We examine 68,044 completed or abandoned M&A transactions involving unlisted targets to determine the effect of transaction rumors on deal-closing propensity and transaction values. Estimation is challenging because rumors may be spread on purpose or emerge accidentally while transaction values are only observable for completed deals and no regulat...
Preprint
We document public welfare spending as an important growth driver of FinTech lending. Examining the UK austerity program, we show that the gradual uneven rollback of the welfare state since 2010 is significantly associated with the rise in demand for peer-topeer (P2P) consumer loans among affected areas, primarily in areas facing more banking and d...
Preprint
We document public welfare spending as an important growth driver of FinTech lending. Examining the UK austerity program, we show that the gradual uneven rollback of the welfare state since 2010 is significantly associated with the rise in demand for peer-topeer (P2P) consumer loans among affected areas, primarily in areas facing more banking and d...
Article
We investigate how information flows within bank networks facilitate syndicate formation and lending in the leveraged buyout (LBO) market, where relationships between banks and borrowers are scarce and borrower opacity is high. Using novel measures that characterize a bank's ability to source and disseminate information within its loan syndication...
Cover Page
Full-text available
I am pleased to announce a call for papers for the Special Issue on "The Role of Personality Traits in Entrepreneurial Finance", for the "Venture Capital: an international journal of entrepreneurial finance". Submissions are welcomed till December 31th 2021.
Preprint
Using a representative survey of Dutch entrepreneurs and self-employed we measure their subjective financial knowledge, whether they ask for advice when managing their companies, and whether subjective financial knowledge and demand for advice are related to the firm economic outcomes. We find that respondents feel more comfortable when dealing wit...
Article
Full-text available
This paper provides evidence of the broad government presence in the European venture capital industry. Two forms of intervention are considered: first, direct stand-alone government venture capital funds and, second, indirect private funds to which governments commit funds as limited partners. The overall government presence seems to be much more...
Article
We provide large sample evidence on the causes and consequences of takeover rumors. 55.2% of non-completed M&A deals involve rumors while only 17.3% of completed deals in-volve them. Probit-regressions reveal that rumors are deal-breakers, reducing the likelihood of deal completion by 37-41%. Simultaneous equations confirm this result even if rumor...
Article
Full-text available
This paper investigates the differences in the return generating process of venture capital (VC)-backed firms and their peers that operate without VC financing. Using a unique hand-picked database of 990 VC-backed Belgian firms and a complete population of Belgian small and medium-sized enterprises (SMEs), we focus on the extent to which the presen...
Article
Using a unique database of 990 VC-backed Belgian firms, we study whether compatibility between corporate and environmental characteristics matters. We address two questions: (i) Does the interplay of company, industry, and product factors affect the expected returns of the VC-backed firms? (ii) Does the joint compatibility between these factors res...

Network

Cited By

Projects