The long-term impact of private equity was put under the spotlight at Davos on Friday.

For those without the time to plough through the extensive 169 pages from Harvard professor Josh Lerner and World Economic Forum’s Anuradha Gurung’s (which dissects research gathered from 21,937 LBO transactions across 19,500 firms) here’s the summary.

Some of its findings are:

Nearly 60 percent of private equity fund investments are exited more than five years after the initial investment and the length of time firms remain under control of private equity investors has increased in recent years.

Quick-flips — ie exits within two years of investment by private equity funds — account for 12 percent of deals and have decreased in the last few years.

6 percent of buyout transactions end in bankruptcy.

One of the study’s most keenly anticipated findings starts on page 43 — the report on jobs. Critics of private equity level that buyout firms ax costs in order to sell companies on rapidly, or “strip and flip” as UAW president Ron Gettelfinger once called it. A much-debated point is whether private equity cuts or creates jobs.  But the report’s answer isn’t that black and white. Here’s what it finds on employment:

Employment falls more rapidly in companies taken private in the wake of a private equity transaction — a 7 percent difference between a control group of companies.

However - this is partly offset by a 6 percent higher greenfield job creation in firms backed by private equity than the peer group studied.

“It appears that the job losses at target establishments in the wake of private equity transactions are partly offset by substantially larger job gains in the form of greenfield job creation by target firms,” the research said.

At least this report takes a thorough look at the sector. A report last week from the Private Equity Council only took a tiny slice of the market (42 companies bought by private equity firms) .