Skip to main content
About HEC About HEC Faculty & Research Faculty & Research Master’s programs Master’s programs MBA Programs MBA Programs PhD Program PhD Program Executive Education Executive Education Summer School Summer School HEC Online HEC Online About HEC Overview Overview Who We Are Who We Are Egalité des chances Egalité des chances Career Center Career Center International International Campus Life Campus Life Stories Stories The HEC Foundation The HEC Foundation Faculty & Research Overview Overview Faculty Directory Faculty Directory Departments Departments Centers Centers Chairs Chairs Knowledge Knowledge Master’s programs Master in
Management Master in
Management
MSc International
Finance MSc International
Finance
Specialized
Masters Specialized
Masters
X-HEC
programs X-HEC
programs
Dual-Degree
programs Dual-Degree
programs
Visiting students Visiting students Certificates Certificates Student Life Student Life
MBA Programs MBA MBA EMBA EMBA TRIUM EMBA TRIUM EMBA PhD Program Overview Overview HEC Difference HEC Difference Program details Program details Research areas Research areas HEC Community HEC Community Placement Placement Job Market Job Market Admissions Admissions Financing Financing Executive Education Executive Masters Executive Masters Executive Certificates Executive Certificates Executive short programs Executive short programs Online Online Executive MBA Executive MBA Train your teams Train your teams Summer School Youth Leadership Initiative Youth Leadership Initiative Summer programs Summer programs Admissions Admissions FAQ FAQ HEC Online Overview Overview Degree Program Degree Program Executive certificates Executive certificates MOOCs MOOCs

Oliver GOTTSCHALG

Associate Professor

Strategy and Business Policy

 Profile picture

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. A second stream of work looks at the implications of employee motivation for firm performance in different settings. In parallel to his faculty position at HEC, he is affiliated with INSEAD as a visiting researcher and the coordinator of the HEC Buyout Research program.

His work has been published in leading academic journals and in various publications for practitioners. 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. At HEC, he teaches a core course on business strategy and offers an elective on Management Buyouts.

Scientific articles

Interest Alignment and Competitive Advantage

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

Truth About Private Equity Performance

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

Understanding Value Generation in Buyouts

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

Books

Chapters edited in books

Working papers

Nature and Sources of Sustainable Competitive Advantage

Mimeo , 2006

The Performance of Private Equity Funds

Working Paper of the INSEAD-Wharton Alliance , 2006

The Performance of Private Equity Funds

Cahier de Recherche du Groupe HEC , 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

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)

Do Politics Shape Buyout Performance?

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

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 responsabilities at HEC

  • 2009- Associate Professor HEC Paris
  • 2005- Member of GREGHEC (CNRS) HEC Paris
  • Academic Director of the Executive Campus of the HEC EMBA Program, June 2010 HEC Paris
  • Academic Director of the TRIUM Global Executive MBA Program HEC Paris
  • Academic Director of the ETP Program China, as part of the 10,000 Women Program by Goldman Sachs 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

    • 2010 BNP Paribas Pierre Vernimmen Teaching Award