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The Impact of Private Equity on Management Practices in European Buy-outs: Short-termism, Anglo-Saxon, or Host Country Effects?

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  • NICK BACON
  • MIKE WRIGHT
  • MIGUEL MEULEMAN
  • LOUISE SCHOLES

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  • Nick Bacon & Mike Wright & Miguel Meuleman & Louise Scholes, 2012. "The Impact of Private Equity on Management Practices in European Buy-outs: Short-termism, Anglo-Saxon, or Host Country Effects?," Industrial Relations: A Journal of Economy and Society, Wiley Blackwell, vol. 51, pages 605-626, April.
    • Handle: RePEc:bla:indres:v:51:y:2012:i::p:605-626
    DOI: j.1468-232X.2012.00692.x
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    References listed on IDEAS

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    1. Glenn Morgan, 2009. "Private equity in the UK context," Transfer: European Review of Labour and Research, , vol. 15(2), pages 209-227, May.
    2. David E. Guest & Jonathan Michie & Neil Conway & Maura Sheehan, 2003. "Human Resource Management and Corporate Performance in the UK," British Journal of Industrial Relations, London School of Economics, vol. 41(2), pages 291-314, June.
    3. repec:bla:jfinan:v:44:y:1989:i:2:p:283-305 is not listed on IDEAS
    4. Kevin Amess & Mike Wright, 2007. "The Wage and Employment Effects of Leveraged Buyouts in the UK," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 14(2), pages 179-195.
    5. Andy Lockett & Mike Wright & Andrew Burrows & Louise Scholes & Dave Paton, 2008. "The export intensity of venture capital backed companies," Small Business Economics, Springer, vol. 31(1), pages 39-58, June.
    6. Jensen, Michael C, 1986. "Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers," American Economic Review, American Economic Association, vol. 76(2), pages 323-329, May.
    7. Viral V. Acharya & Conor Kehoe & Michael Reyner, 2009. "Private Equity vs. PLC Boards in the U.K.: A Comparison of Practices and Effectiveness," Journal of Applied Corporate Finance, Morgan Stanley, vol. 21(1), pages 45-56, January.
    8. Mike Wright & Andy Lockett, 2003. "The Structure and Management of Alliances: Syndication in the Venture Capital Industry," Journal of Management Studies, Wiley Blackwell, vol. 40(8), pages 2073-2102, December.
    9. John Evans & Pierre Habbard, 2008. "From shareholder value to private equity – the changing face of financialisation of the economy," Transfer: European Review of Labour and Research, , vol. 14(1), pages 63-75, February.
    10. Andrew Watt & Béla Galgóczi, 2009. "Financial capitalism and private equity – a new regime?," Transfer: European Review of Labour and Research, , vol. 15(2), pages 189-208, May.
    11. Cumming, Douglas & Siegel, Donald S. & Wright, Mike, 2007. "Private equity, leveraged buyouts and governance," Journal of Corporate Finance, Elsevier, vol. 13(4), pages 439-460, September.
    12. Kaplan, Steven N. & Strömberg, Per, 2008. "Leveraged Buyouts and Private Equity," Working Papers 228, The University of Chicago Booth School of Business, George J. Stigler Center for the Study of the Economy and the State.
    13. Steven N. Kaplan & Per Stromberg, 2009. "Leveraged Buyouts and Private Equity," Journal of Economic Perspectives, American Economic Association, vol. 23(1), pages 121-146, Winter.
    14. Sigurt Vitols, 2008. "The evolving European system of corporate governance: implications for worker participation," Transfer: European Review of Labour and Research, , vol. 14(1), pages 27-43, February.
    15. M. Scholes & Mike Wright & Paul Westhead & Andrew Burrows & Hans Bruining, 2007. "Information Sharing, Price Negotiation and Management Buy-outs of Private Family-owned Firms," Small Business Economics, Springer, vol. 29(3), pages 329-349, October.
    16. Acharya, Viral & Kehoe, Conor & Reyner, Michael, 2009. "Private Equity vs. PLC Boards: A Comparison of Practices and Effectiveness - Summary of Research Findings," CEPR Discussion Papers 7148, C.E.P.R. Discussion Papers.
    17. Poul Nyrup Rasmussen, 2009. "The need to regulate hedge funds and private equity," Transfer: European Review of Labour and Research, , vol. 15(2), pages 291-295, May.
    18. Gaby Bonnand & Emmanuel Mermet, 2009. "The social risks of LBOs and private equity: a trade union view," Transfer: European Review of Labour and Research, , vol. 15(2), pages 303-307, May.
    19. Nicolas Bacon & Mike Wright & Natalia Demina, 2004. "Management Buyouts and Human Resource Management," British Journal of Industrial Relations, London School of Economics, vol. 42(2), pages 325-347, June.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Blind, Georg D. & Lottanti von Mandach, Stefania, 2021. "Private Equity Buyouts in Japan: Effects on Employment Numbers," Journal of the Japanese and International Economies, Elsevier, vol. 59(C).
    2. Andrea Dello Sbarba & Riccardo Giannetti & Alessandro Marelli, 2020. "Private equity firms and management control: the framing of shareholder-oriented practices," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 24(4), pages 953-987, December.
    3. Nick Bacon & Kim Hoque & Mike Wright, 2019. "Is Job Insecurity Higher in Leveraged Buyouts?," British Journal of Industrial Relations, London School of Economics, vol. 57(3), pages 479-512, September.
    4. Loris Guery & Anne Stevenot & Geoffrey T. Wood & Chris Brewster, 2017. "The Impact of Private Equity on Employment: The Consequences of Fund Country of Origin—New Evidence from France," Industrial Relations: A Journal of Economy and Society, Wiley Blackwell, vol. 56(4), pages 723-750, October.
    5. Anne Stevenot & Loris Guery & Geoffrey Wood & Chris Brewster, 2018. "Country of Origin Effects and New Financial Actors: Private Equity Investment and Work and Employment Practices of French Firms," British Journal of Industrial Relations, London School of Economics, vol. 56(4), pages 859-881, December.
    6. Dziri Houda & Jarboui Anis, 2017. "The venture capitalist’s cognitive approach: Validation through the Tunisian context," Cogent Economics & Finance, Taylor & Francis Journals, vol. 5(1), pages 1323371-132, January.
    7. Renneboog, Luc & Vansteenkiste, Cara, 2017. "Leveraged Buyouts : A Survey of the Literature," Discussion Paper 2017-015, Tilburg University, Center for Economic Research.
    8. Hammer, Benjamin & Knauer, Alexander & Pflücke, Magnus & Schwetzler, Bernhard, 2017. "Inorganic growth strategies and the evolution of the private equity business model," Journal of Corporate Finance, Elsevier, vol. 45(C), pages 31-63.
    9. Anindya Chakrabarty & Anupam De & Gautam Bandyopadhyay, 2016. "Horizon heterogeneity, institutional constraint and managerial myopia: a multi-frequency perspective on ELSS," International Journal of Business Excellence, Inderscience Enterprises Ltd, vol. 9(1), pages 18-47.
    10. Aurélie Sannajust & Alexander Groh, 2023. "Pioneering management buy-out and entrepreneurial finance research: Mike Wright’s research legacy," Small Business Economics, Springer, vol. 60(1), pages 1-35, January.

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