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Henry Lahr

Research Associate

Research

Financial constraints to investment and innovation; innovation dynamics in entrepreneurial firms; financing of research and development; listed private equity, venture capital and fund pricing; efficient capital markets and perception of risk by financial market participants; earnings management and financial reporting; quantitative methods in economics and finance.

Personal background

Henry is a Research Associate at the Centre for Business Research, University of Cambridge. His research focuses on financial decisions by firms, financial constraints and the impact of financing decisions on innovative activity and venture capital fund pricing. He joined the CBR as a Research Fellow for the research project FINNOV - Finance, Innovation and Growth within the European Union-funded FINNOV project, which was aimed at understanding the relationship between changing financial markets, innovation dynamics, and economic performance. He has previously worked on several projects concerned with the consequences of private equity financing in small and large companies, for example, on collaborative research reports for the German Federal Ministry of Finance and the German State Media Authorities.

Selected publications

Lahr, H., and Mina, A. (2016), Venture capital investments and the technological performance of portfolio firms, Research Policy 45(1), 303-318

Lahr, H., and Mina, A. (2014), Liquidity, technological opportunities, and the stage distribution of venture capital investments, Financial Management 43(2), 291-325

Lahr, H. (2014), An Improved Test for Earnings Management Using Kernel Density Estimation, European Accounting Review, available at http://dx.doi.org/10.1080/09638180.2013.860044.

Lahr, H. (with A. Mina) (2013), Dynamic financial constraints and innovation: Evidence from the UK innovation surveys, Concordi-2013 Conference, JRC-IPTS/European Commission in Seville, 26-27 September 2013. CONCORDi-2013 BEST PAPER AWARD.

Mina, A., Lahr, H. and Hughes, A. (2013), The Demand and Supply of External Finance for Innovative Firms, Industrial and Corporate Change 22(4), 869-901

Lahr, H., Mina, A. (2012), Coaching or Selection? Venture Capital and Firms' Patenting Performance, FINNOV Discussion Paper 3.9, Available at: http://www.finnov-fp7.eu/publications/finnov-discussion-papers.

Mina, A., Lahr, H. (2012), Exit risk, technological opportunities and the stage distribution of venture capital investments. Working Paper.

Lahr, H. (2012), An improved test for earnings management using kernel density estimation. Working Paper, Available at: http://ssrn.com/abstract=1587969.

Kaserer, C., Lahr, H., Talmor, E. and Vasvari, F. (2011), Listed Private Equity, in: Talmor, E., Vasvari, F. (eds.), International Private Equity, Wiley: Chichester, pp. 171-185.

Lahr, H. and Kaserer, C. (2010), Net Asset Value Discounts in Listed Private Equity Funds, Working Paper, Available at SSRN: http://ssrn.com/abstract=1494246.

Kaserer, C., Lahr, H., Liebhart, V. and Mettler, A. (2010), The Time-Varying Risk of Listed Private Equity, Journal of Financial Transformation 28, 2010, pp. 87-93.

Lahr, H. and Herschke, F. (2009), Organizational Forms and Risk of Listed Private Equity, The Journal of Private Equity 13(1), 2009, pp. 89-99.

Ehrhardt, O. and Lahr, H. (2008), The Impact of IPO Costs and Private Benefits on Exit Strategies, Baltic Management Review 3(1), 2008.

Kaserer, C., Achleitner, A.-K., von Einem, C. and Schiereck, D. (2007), Private Equity in Deutschland - Rahmenbedingungen, ökonomische Bedeutung und Handlungsempfehlungen, Expertise on behalf of the German Federal Ministry of Finance, Books on Demand, Norderstedt.

Conference contributions

British Accounting and Finance Association, Coaching or Selection? Venture Capital and Firms' Patenting Performance. Newcastle upon Tyne, March 2013.

British Accounting and Finance Association, Exit risk, technological opportunities and the stage distribution of venture capital investments. Newcastle upon Tyne, March 2013.

Financial Management Association, Coaching or Selection? Venture Capital and Firms' Patenting Performance, "Top Ten Session", Atlanta, October 2012.

International Joseph A. Schumpeter Society, Coaching or Selection? Venture Capital and Firms' Patenting Performance, Brisbane, July 2012.

European Financial Management Association, Patenting performance in SMEs with endogenous venture capital financing, Barcelona, June 2012.

European Accounting Association Annual Meeting, Identifying Discontinuities in Distributions of Earnings by Kernel Density Estimation, Ljubljana, May 2012.

British Accounting Association Annual Meeting, Identifying Discontinuities in Distributions of Earnings by Kernel Density Estimation, Brighton, April 2012.

Financial Management Association Annual Meeting, Net Asset Value Discounts in Listed Private Equity Funds, New York, October 2010.

American Accounting Association Annual Meeting, Identifying Discontinuities in Distributions of Earnings by Kernel Density Estimation, San Francisco, August 2010.

European Financial Management Association Annual Meeting, Net Asset Value Discounts in Listed Private Equity Funds, Aarhus, June 2010.

Eastern Finance Association Annual Meeting, Net Asset Value Discounts in Listed Private Equity Funds, Miami Beach, April 2010.

British Accounting Association Annual Meeting, Identifying Discontinuities in Distributions of Earnings by Kernel Density Estimation, Cardiff, April 2010.

Contact details

Henry Lahr
Centre for Business Research
Cambridge Judge Business School
University of Cambridge
Trumpington Street
Cambridge CB2 1AG
UK

Email: h.lahr@cbr.cam.ac.uk