9. What do you think accounts for the fact that the failure rates for buyouts is lower than the default rate on corporate bonds?

10. What might explain the finding observed in the paper by Lerner et al., where companies that have been bought out appear to pursue more economically important innovations?

11. What do you think explains the pattern of employment change in buyout targets relative to their peers?

1. Is there an ideal background for a private equity professional? In particular, for a venture capitalist? A buyout investor?

2. What are the key characteristics a private equity firm looks for when evaluating an entry-level hire?