Eli Talmor

Emeritus Professor of Accounting

BSc (Technion) PhD (North Carolina at Chapel Hill)

Founder of Private Equity at LBS, Professor Eli Talmor is co-author of Private Capital, broadly considered to be the reference book on the private equity industry. He is frequently invited to deliver keynote speeches to business executives worldwide, testified at the UK Parliament on private equity and advised the UK Prime Minister’s Office.

He served on the London Business School Board of Governors and the advisory board of the African Venture Capital Association. He also practices venture capital and is a serial cornerstone investor with multiple exits.

Before joining the London Business School, he was on the finance faculty at the University of California (UCLA and Irvine), Tel Aviv University and the Wharton School (University of Pennsylvania).

  • Private equity and venture capital


The private equity challenge to corporate finance

Talmor E

London Business School Review 2019


Private equity: rethinking the neoclassical axioms of capital markets

Talmor E

Journal of Alternative Investments 2018 Vol 21:2 p 10-15


Liquidity runway and horizon of disappointment – Business model of venture lending funds

Hesse M; Lutz E; Talmor E

Journal of Alternative Investments 2016 Vol 19:2 p 28-37


Risk management practices at private equity firms

Talmor E; Vasvari F

Adveq Research Series report 2014

The extent and evolution of pension funds' private equity allocations

Talmor E; Vasvari F

Adveq Research Series report 2014


Replicating the investment strategy of buyout funds based in the United Kingdom with public-market investments

Gottschalg O; Hadass L; Talmor E; Vasvari F

Journal of Alternative Investments 2013 Vol 16:2 p 71-79


Do customer acquisition cost, retention and usage matter to firm performance and valuation?

Talmor E; Livne G; Simpson A

Journal of Business Finance and Accounting 2011 Vol 38:3-4 p 334-363


A theory of private equity turnarounds

Talmor E

Journal of Corporate Finance 2007 Vol 13:4 p 629-646


Examination of multiple governance forces within bank holding companies

Talmor E; Sierra G; Wallace J S

Journal of Financial Services Research 2006 Apr Vol 29:2 p 105-123


Corporate governance and theories of executive pay

Talmor E; Pukthuanthong K; Wallace J S

Corporate Ownership and Control 2004 Winter Vol 1:2 p 94-105


Investigating pay for performance using the Standard and Poor's execucomp database

Talmor E; Wallace J S

American Compensation Association Journal 1999 2nd Quarter p 41-49

Managerial bargaining power in the determination of compensation contracts and corporate investment

Talmor E; Stoughton N M

International Economic Review 1999 Feb Vol 40:1 p 69-83


Computer industry executives: an analysis of the new barons' compensation

Talmor E; Wallace J S

Information Systems Research 1998 Dec Vol 9:4 p 398-414

International perspective of executive remuneration and new approaches

Talmor E; Bar Yosef S

Israeli Accounting Review 1998 Vol 47 p 149-159


In defense of defensive measures

Talmor E; Sarig O

Journal of Corporate Finance 1997 Jun Vol 3:3 p 277-297

Performance and corporate control: what motivates CEOs and other top executives in Israel?

Talmor E; Bar Yosef S

Economic Quarterly 1997 Jun p 171-192


Heterogeneous taxation of capital income

Talmor E; Benninga S; Mayshar J

Public Finance = Finances Publiques 1995 Vol 50 p 19-35


Mechanism design approach to transfer pricing by the multinational firm

Talmor E; Stoughton N M

European Economic Review 1994 Jan Vol 38:1 p 143-170


Technology, dependent investments and discounting rules for corporate investment decisions

Talmor E; Thompson H E

Managerial and Decision Economics 1992 Mar/Apr Vol 13:2 p 101-109


Effect of volatility changes on the level of stock prices and subsequent expected returns

Talmor E; Haugen R A; Torous W N

Journal of Finance 1991 Jul Vol 46:3 p 985-1007


Taxes and dividend policy

Talmor E; Titman S

Financial Management 1990 Summer Vol 19:2 p 32-35


Irrelevancy of corporate taxes for capital structure and investment decisions

Talmor E; Litzenberger R H

Journal of Accounting, Auditing and Finance 1989 Summer Vol 4:3 p 305-316

Tax arbitrage restrictions and financial leverage clienteles

Talmor E

Journal of Banking and Finance 1989 Dec Vol 13:6 p 831-838


Government financing, taxation and capital markets

Talmor E; Ravid S A

Research in Finance 1988 Vol 7 p 21-52

Interaction of corporate and government financing in general equilibrium

Talmor E; Benninga S

Journal of Business 1988 Apr Vol 61:2 p 233-258

Revenue-neutral changes in corporate and personal income taxes and government debt

Talmor E; Benninga S

in Helpman E, Razin A and Sadka E eds., Economic effects of the government budget, p 50-64, MIT Press, 1988


Debt and taxes: a multiperiod investigation

Talmor E; Barnea A; Haugen R A

Journal of Banking and Finance 1987 Mar Vol 11:1 p 79-97


Asset substitution and the agency costs of debt financing

Talmor E; Green R

Journal of Banking and Finance 1986 Oct Vol 10:3 p 391-399

Effects of asymmetric taxation on the scale of corporate investments

Talmor E; Green R

in Edwards J, Franks J, Schaefer S et al. eds., Recent developments in corporate finance, p 83-97, Cambridge University Press, 1986


Personal tax considerations in portfolio construction: tilting the optimal portfolio selection

Talmor E

Quarterly Review of Economics and Business 1985 Autumn Vol 25:3 p 55-71

Structure and incentive effects of corporate tax liabilities

Talmor E; Green R

Journal of Finance 1985 Sep Vol 40:4 p 1095-1114

Value of the tax subsidy on risky debt

Talmor E; Haugen R A; Barnea A

Journal of Business 1985 Apr Vol 58:2 p 191-202


Determination of corporate optimal capital structure under value maximization and informational asymmetry

Talmor E

Journal of Economics and Business 1984 Feb Vol 36:1 p 65-75


Managerial objective functions: comment

Talmor E; Harris R S

Southern Economic Journal 1982 Jan Vol 48:3 p 802-811


Assymetric information, signaling and optimal corporate financial decisions

Talmor E

Journal of Financial and Quantitative Analysis 1981 Nov Vol 16:4 p 413-435


Normative approach to bank capital adequacy

Talmor E

Journal of Financial and Quantitative Analysis 1980 Nov Vol 15:4 p 785-811


The effect of venture capital reputation in venture lending contracts

Hesse M; Lutz E; Talmor E

Working Paper


Liquidity in the secondaries private equity market

Kleymenova A; Talmor E; Vasvari F

Rotterdam School of Management,


Private equity fund level return attribution: evidence from UK based buyout funds

Gottschalg O; Talmor E; Vasvari F P

Coller Institute of Private Equity Working Paper


Unified analysis of executive pay: the case of the financial sector

Talmor E; Wallace J S

Accounting Working Paper


Private capital: private equity and beyond : volumes I & II

Vasvari F; Talmor E

Private Capital Advisory, 2019


International private equity

Talmor E; Vasvari F

John Wiley and Sons, 2011.


Introduction to finance. 2nd ed.

Talmor E; Sharoni I

Dionon Press, 2004


Introduction to finance

Talmor E; Sharoni I

Dionon Press, 2003


Principles of finance: text and problems. 3rd ed.

Talmor E

Dionon Press, 2000


Executive stock option plans in Israel: the accounting treatment and current practices

Talmor E; Bar Yosef S

Kasierer Institute for Research in Accounting, 1999

Teaching portfolio

Our teaching offering is updated annually. Faculty and programme material are subject to change.