低碳经济与管理
2026年第8期
讲座题目：When Private Equity Hurts
主讲嘉宾：Duc Khuong Nguyen
时间：2026.05.19（周二） 16:00-17:00
地点：北航新主楼A706
主持人：衣博文 副教授
主讲人简介：
He is an experienced strategic consultant and advisor in financial economics and sustainable development, having worked with governments, local authorities, and multinational corporations. He joined De Vinci Higher Education in September 2023 as Director of International Development and Associate Dean at EMLV Business School, and subsequently served as Acting Dean and then Dean (Managing Director) of EMLV. He is actively engaged in editorial work, serving as Co-Editor-in-Chief of Political Economy, Editor of Annals of Operations Research, Department Editor of the Journal of Forecasting, Subject Editor at Emerging Markets Review and Journal of International Financial Markets, Institutions & Money, Associate Editor for Finance Research Letters, International Review of Financial Analysis, and Environmental Modeling & Assessment.
内容介绍：
Private equity-backed firms outperformed matched non-PE peers during the 2008 Global Financial Crisis and the 2020 COVID-19 episode but underperformed during the 2022 monetary tightening. We document this cross-cohort sign change through a matched difference-in-differences design across three crisis cohorts on US firms. Two channels organize the cross-cohort variation. Floating-rate debt service propagates the rate cycle through interest-expense pass-through. Refinancing-wall timing produces sequential emergence of harm across PE-backed firms. The same leverage that supports PE-backed firms during a credit-driven crisis amplifies the cost-of-capital shock during a rate-driven crisis.
