Oliver GOTTSCHALG

Professor

Strategy and Business Policy

gottschalg@hec.fr
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Biography

Oliver Gottschalg holds a Wirtschaftsingenieur Diploma from the University of Karlsruhe, an MBA from Georgia State University and a M.Sc. and Ph.D. degree from INSEAD.

His current research focuses on the strategic logic and the performance determinants of private equity investments. His work has been published in leading academic journals in strategy and finance and in various publications for practitioners and was featured over 500 times in the business press. He regularly presents his research at academic conferences and private equity symposia and serves as an advisor to leading investors in the private equity industry. He has been involved as expert advisor in the ongoing debate about a possible need for regulation of the Private Equity industry in Europe at the national and European level.

At HEC, he teaches electives on Management Buyouts and Private Equity Strategies and directs the HEC Private Equity Certificate.

Scientific articles

Do Politics Shape Buyout Performance?

Harvard Business Review, November 2008, vol. 86, n° 11, pp 26-27, (in coll. with A. Pe'er)

Truth About Private Equity Performance

Harvard Business Review, february, 3 2007, vol. 85, n° 12, pp 17-20, (in coll. with L. Phalippou)

Interest Alignment and Competitive Advantage

Academy of Management Review, April 2007, vol. 32, n° 2, pp 418-437, (in coll. with M. Zollo)

Understanding Value Generation in Buyouts

Journal of Restructuring Finance, 2005, vol. 2, n° 1, pp 9-37, (in coll. with A. Berg)

Books

Chapters in edited books

Working papers

Nature and Sources of Sustainable Competitive Advantage

Mimeo , 2006

The Performance of Private Equity Funds

Cahier de Recherche du Groupe HEC , 2006

The Performance of Private Equity Funds

Working Paper of the INSEAD-Wharton Alliance , 2006

The Risk-Adjusted Performance of US Buyouts

Cahier de Recherche du Groupe HEC , 2006

Interest Alignment and Competitive Advantage

Cahier de Recherche du Groupe HEC , 2005

Interest Alignment and Firm Performance

Cahier de Recherche du Groupe HEC , 2005

Post-Investment Value Addition in European Buyouts

Mimeo , 2005

Rewards and Firm Performance

Mimeo , 2005

Understanding Value Generation in Buyouts

Cahier de Recherche du Groupe HEC , 2005

Value Creation in Unrelated Multibusiness Firms: Insights from a Closer Look at LBO Associations

Cahier de Recherche du Groupe HEC , 2005

Scientific articles

Replicating the Investment Strategy of Buyout Funds Based in the United Kingdom with Public-Market Investments

Journal of Alternative Investments, Fall 2013, vol. 16, n° 2, pp 71-79, (in coll. with L. HADASS, E. TALMOR, F. VASVARI)

Red and Blue: The Relationship between the Institutional Context and the Performance of Leveraged Buyout Investments

Strategic Management Journal, December 2011, vol. 32, n° 12, pp 1356-1367, (in coll. with A. Pe'er)

The effect of leverage on the cost of capital of US buyouts

Journal of Banking and Finance, August 2011, vol. 35, n° 8, pp 2099-2110, (in coll. with A. Groh)

The Performance of Private Equity Funds

Review of Financial Studies, April 2009, vol. 22, n° 4, pp 1747-1776, (in coll. with L. Phalippou)

Books

Chapters in edited books

Working papers

Education Mix And Magnitude: Lessons From The Analysis Of Venture Capital Team Characteristics

Mimeo , 2007

How Acquireres Contribute to Post-Investment Value Addition in Buyouts: A Resource Dependence Perspective

Cahier de Recherche du Groupe HEC , 2007

The Party should be over: Why Private Equity is much less attractive than it looks

Mimeo , 2007

Growth and Learning

Mimeo , 2006

Education

  • Ph.D. in Management, INSEAD - France
  • Visiting Doctoral Student, University of Pennsylvania - USA
  • Master of Science in Management, INSEAD - France
  • Diplom-Wirtschaftsingenieur, Universität Karlsruhe - Germany
  • Master of Business Administration, Georgia State University - USA

Academic appointments

Academic Responsibilities at HEC

  • 2022- Professor, Strategy and Business Policy HEC Paris

Scientific Activities

Membership in Academic or Professional Organisation

  • Member, Academy of Management

Editorial activities

  • Member of the Editorial Board of the book series "Academic Readings in Private Equity" in cooperation with the European Venture Capital Association
  • Ad-Hoc Reviewer for the Journal of Restructuring Finance, the Strategic Management Journal, Research Policy, the Journal of Management Studies, the Journal of Finance
  • Reviewer for the Academy of Management Conference (BPS Division)
  • Reviewer, Academy of International Business

    • Conference organisation

  • 2011-2011 Co-organizer of the Paris Private Equity Forum (joint initiative HEC-Sciences Po)
  • 2003-2003 Academy of management Conference, Seattle: Initiator and Co-Chair of the Symposium New Strategic Challenges for Management Buyouts and their Financiers: International Perspectives
  • The INSEAD Private Equity Conference, Fontainebleau, France, mai 2004. Co-initiator, co-organizer, presenter at the event which gathered 130 professionals from the private equity industry, 60 speakers and over 150 alumni and MBAs

    • Awards & honors

    • 2012 2012 Best Elective Award across the CEMS Program
    • 2010 2020 BNP Paribas Pierre Vernimmen Teaching Award