Courses taught

MBA/MFE Private Equity
MBA/MFE Entrepreneurial Finance
EMBA Entrepreneurial Finance

Oxford Private Equity Programme

Oxford Private Equity Programme in China (with Peking University)

Institutional Private Equity Investing (with the European Private Equity and Venture Capital Association)

Expertise

Private equity.
Initial public offerings.
Regulation and the cost of capital.

Overview

Tim Jenkinson is Professor of Finance at the Saïd Business School, and is Director of the Oxford Private Equity Institute.

He is also Chairman of the economic consulting firm Oxford Economic Research Associates (Oxera), a director of the UK-listed investment fund PSource Structured Debt (LSE: PSD), and an academic advisor to KPMG's Global Valuation Institute. He has consulted for a large number of companies, regulators, government agencies and industry associations. He is a Professorial Fellow of Keble College, Oxford.

Tim joined the Saïd Business School in 2000. He was previously in the economics department at Oxford University, which he joined in 1987, and has also spent periods as a Visiting Professor at Dartmouth College. He initially studied economics as an undergraduate at Cambridge University, before going as a Thouron Fellow to the University of Pennsylvania, where he obtained a Masters in Economics. He then returned to the UK and obtained a DPhil in Economics from Oxford. 

Research interests

Tim Jenkinson's research is on private equity, initial public offerings (in particular the analysis of bookbuilding), and the cost of capital.

He has written widely on finance and economics and his work has been published in leading journals including the Journal of Finance, Review of Financial Studies, Journal of Financial Economics, Journal of Corporate Finance, Economic Journal and the European Economic Review.

He is a Director of the Oxford Private Equity Institute, Research Fellow of the Centre for Economic Policy Research, a Research Associate of the European Corporate Governance Institute and Managing Editor of the Oxford Review of Economic Policy.

Current working papers:

Jenkinson, T. and Stucke, R., 2011, Who Benefits from the Leverage in LBOs?, February.

Axelson, U., Jenkinson, T., Stromberg, P. and Weisbach, M. February 2012, Borrow Cheap, Buy High? The Determinants of Leverage and Pricing in Buyouts, September

Reports and podcasts:

Read the latest analysis of the private equity sector, written by Tim Jenkinson for the EEAG report 2009.

Listen to Tim Jenkinson's private equity podcast "The new kings of capitalism?" Part of the Times series on the Best of the MBA, the podcast was reviewed as "blissfully illuminating" !

Watch the webcast of Tim's presentation on the current state of the private equity market, given at the CFA Insitute European Investment Conference.

Watch the video of Tim Talking Management with McGill University's Karl Moore, part one and two.

Honours and awards:

Speeches, conference presentations and papers:

Tim gave a speech at the Swedish Private Equity and Venture Capital Association conference, Riskkapital 09, in March 2009 on the subject of leverage and value creation.

Tim discussed the current state of the private equity market at the CFA Institute European Investment Conference in Amsterdam in December 2008. A webcast of the session is available.

Tim talked about recent developments in IPOs and their relevance to the growing equity markets in the Middle East region at a conference at the Dubai International Financial Center in October 2008.

Tim gave a keynote speech at the annual meeting of the European Financial Management Association in August 2008.

In April 2008, Tim organised an international conference on Initial Public Offerings, in collaboration with the European Financial Management Association.

In January 2008, Tim presented two papers at the American Finance Association meeting. The first paper Leverage and Pricing in Buyouts looks at the capital structure of private equity deals. The second analyses companies that switch between market segments which differ in their regulatory environment. The latest version of the paper can downloaded here.

Tim's paper with Howard Jones entitled "IPO pricing and allocations: a survey of the views of institutional investors" has been accepted for publication in the Review of Financial Studies. It was presented at meeting of the UK Society of Investment Professionals in June 2007 and at the  January 2007 American Finance Association conference in Chicago.

Tim discussed the role of the private equity sector on corporate control at a conference in October 2007 in Lisbon on "Challenges for the Control of Corporate Europe", organised by the European Corporate Governance Institute and the Portugese Securities Market Commission. 

In August 07, Tim gave a keynote speech discussing the implication of private equity for public markets at a conference on "The Economics of Private Equity" at the Swedish Institute for Financial Research in Stockholm. You can download the presentation.

On 12 June 2007, Tim Jenkinson gave evidence to the UK Treasury Select Committee, as part of its investigation into Private Equity. You can listen to the session by clicking here.

In June 2007, Tim spoke at a conference on Cost of Capital and Financing of Regulated Industries, organised by Xfi Centre for Finance and Investment, in collaboration with the Competition Commission

Tim Jenkinson gave a keynote speech in September 2006 at the International Forum on Venture Capital in Kyoto, Japan.

Tim Jenkinson explained the growing importance of the private equity sector at a seminar organised by the Institute for Public Policy Research in London in September 2006.