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Pioneering management buy-out and entrepreneurial finance research: Mike Wright’s research legacy

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Listed:
  • Aurélie Sannajust

    (KEDGE Business School)

  • Alexander Groh

    (EMLYON Business School)

Abstract

This paper reviews Professor Mike Wright’s contributions to the management buy-out and entrepreneurial finance literature. It documents the development and variety of his academic work over time. We begin by describing Mike’s research impact, before analyzing his bibliometric records and providing definitions of his favorite research topics. We then discuss his individual papers starting with the emergence of buy-outs, agency costs, and corporate governance issues. After this, we move to internationalization, boom and bust, Mike’s acknowledgement of the arrival of active investors, emerging markets, deal structuring, syndication, new venture finance, financial and economic performance, and recent developments. We document the legacy of an abundant scholar and, thanks to his outstanding academic impact, provide guidance through the evolution of management buy-out and entrepreneurial finance research since its inception.

Suggested Citation

  • 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.
    • Handle: RePEc:kap:sbusec:v:60:y:2023:i:1:d:10.1007_s11187-022-00635-4
    DOI: 10.1007/s11187-022-00635-4
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    References listed on IDEAS

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    1. Vohora, Ajay & Wright, Mike & Lockett, Andy, 2004. "Critical junctures in the development of university high-tech spinout companies," Research Policy, Elsevier, vol. 33(1), pages 147-175, January.
    2. Deniz Ucbasaran & Paul Westhead & Mike Wright, 2001. "The Focus of Entrepreneurial Research: Contextual and Process Issues," Entrepreneurship Theory and Practice, , vol. 25(4), pages 57-80, July.
    3. David Citron & Ken Robbie & Mike Wright, 1997. "Loan Covenants and Relationship Banking in MBOs," Accounting and Business Research, Taylor & Francis Journals, vol. 27(4), pages 277-294.
    4. Mike Wright & Sarika Pruthi & Kevin Amess & Yan Alperovych, 2019. "Private equity: where we have been and the road ahead," Venture Capital, Taylor & Francis Journals, vol. 21(1), pages 51-64, January.
    5. Klofsten, Magnus & Fayolle, Alain & Guerrero, Maribel & Mian, Sarfraz & Urbano, David & Wright, Mike, 2019. "The entrepreneurial university as driver for economic growth and social change - Key strategic challenges," Technological Forecasting and Social Change, Elsevier, vol. 141(C), pages 149-158.
    6. Mike Wright & Luc Renneboog & Tomas Simons & Louise Scholes, 2006. "Leveraged Buyouts in the U.K. and Continental Europe: Retrospect and Prospect," Journal of Applied Corporate Finance, Morgan Stanley, vol. 18(3), pages 38-55, June.
    7. Ken Robbie & Mike Wright & Mark Albrighton, 1999. "High-tech management buy-outs," Venture Capital, Taylor & Francis Journals, vol. 1(3), pages 219-239, July.
    8. Salim Chahine & Igor Filatotchev & Mike Wright, 2007. "Venture Capitalists, Business Angels, and Performance of Entrepreneurial IPOs in the UK and France," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 34(3‐4), pages 505-528, April.
    9. Mirjam Knockaert & Mike Wright & Bart Clarysse & Andy Lockett, 2010. "Agency and similarity effects and the VC’s attitude towards academic spin-out investing," The Journal of Technology Transfer, Springer, vol. 35(6), pages 567-584, December.
    10. Meuleman, Miguel & Jääskeläinen, Mikko & Maula, Markku V.J. & Wright, Mike, 2017. "Venturing into the unknown with strangers: Substitutes of relational embeddedness in cross-border partner selection in venture capital syndicates," Journal of Business Venturing, Elsevier, vol. 32(2), pages 131-144.
    11. Igor Filatotchev & Irena Grosfeld & Judit Karsai & Mike Wright & Trevor Buck, 1996. "Buy‐outs in Hungary, Poland and Russia: governance and finance issues1," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 4(1), pages 67-88, May.
    12. Devigne, David & Manigart, Sophie & Wright, Mike, 2016. "Escalation of commitment in venture capital decision making: Differentiating between domestic and international investors," Journal of Business Venturing, Elsevier, vol. 31(3), pages 253-271.
    13. Andy Lockett & Mike Wright, 2002. "Venture capital in Asia and the Pacific Rim," Venture Capital, Taylor & Francis Journals, vol. 4(3), pages 183-195, July.
    14. Andy Lockett & Mike Wright & Harry Sapienza & Sarika Pruthi, 2002. "Venture capital investors, valuation and information: A comparative study of the US, Hong Kong, India and Singapore," Venture Capital, Taylor & Francis Journals, vol. 4(3), pages 237-252, July.
    15. Manigart, Sophie & De Waele, Koen & Wright, Mike & Robbie, Ken & Desbrieres, Philippe & Sapienza, Harry J. & Beekman, Amy, 2002. "Determinants of required return in venture capital investments: a five-country study," Journal of Business Venturing, Elsevier, vol. 17(4), pages 291-312, July.
    16. 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.
    17. Deniz Ucbasaran & Paul Westhead & Mike Wright, 2008. "Opportunity Identification and Pursuit: Does an Entrepreneur’s Human Capital Matter?," Small Business Economics, Springer, vol. 30(2), pages 153-173, February.
    18. Lockett, Andy & Wright, Mike, 2001. "The syndication of venture capital investments," Omega, Elsevier, vol. 29(5), pages 375-390, October.
    19. Westhead, Paul & Wright, Mike, 1998. "Novice, portfolio, and serial founders: are they different?," Journal of Business Venturing, Elsevier, vol. 13(3), pages 173-204, May.
    20. Phillip Phan & Donald S. Siegel & Mike Wright, 2016. "Science Parks and Incubators: Observations, Synthesis and Future Research," World Scientific Book Chapters, in: Phillip H Phan & Sarfraz A Mian & Wadid Lamine (ed.), TECHNOLOGY ENTREPRENEURSHIP AND BUSINESS INCUBATION Theory • Practice • Lessons Learned, chapter 9, pages 249-272, World Scientific Publishing Co. Pte. Ltd..
    21. Corinne Mulley & Mike Wright, 1986. "Buy-outs and the privatisation of National Bus," Fiscal Studies, Institute for Fiscal Studies, vol. 7(3), pages 1-24, August.
    22. Robert E. Hoskisson & Mike Wright & Igor Filatotchev & Mike W. Peng, 2013. "Emerging Multinationals from Mid-Range Economies: The Influence of Institutions and Factor Markets," Journal of Management Studies, Wiley Blackwell, vol. 50(7), pages 1295-1321, November.
    23. Vincenzo Butticè & Massimo G. Colombo & Mike Wright, 2017. "Serial Crowdfunding, Social Capital, and Project Success," Entrepreneurship Theory and Practice, , vol. 41(2), pages 183-207, March.
    24. Mike Wright & Robert E. Hoskisson & Lowell W. Busenitz & Jay Dial, 2001. "Finance and management buyouts: Agency versus entrepreneurship perspectives," Venture Capital, Taylor & Francis Journals, vol. 3(3), pages 239-261, July.
    25. C. Weir & D. Laing & M. Wright, 2005. "Undervaluation, private information, agency costs and the decision to go private," Applied Financial Economics, Taylor & Francis Journals, vol. 15(13), pages 947-961.
    26. Miguel Meuleman & Mike Wright & Sophie Manigart & Andy Lockett, 2009. "Private Equity Syndication: Agency Costs, Reputation and Collaboration," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 36(5‐6), pages 616-644, June.
    27. Clarysse, Bart & Wright, Mike & Lockett, Andy & Van de Velde, Els & Vohora, Ajay, 2005. "Spinning out new ventures: a typology of incubation strategies from European research institutions," Journal of Business Venturing, Elsevier, vol. 20(2), pages 183-216, March.
    28. Richard Harris & Donald S. Siegel & Mike Wright, 2005. "Assessing the Impact of Management Buyouts on Economic Efficiency: Plant-Level Evidence from the United Kingdom," The Review of Economics and Statistics, MIT Press, vol. 87(1), pages 148-153, February.
    29. Ellen Farrell & Carole Howorth & Mike Wright, 2008. "A review of sampling and definitional issues in informal venture capital research," Venture Capital, Taylor & Francis Journals, vol. 10(4), pages 331-353, April.
    30. Mike Wright & Trevor Buck & Igor Filatotchev, 1998. "Bank and investment fund monitoring of privatized firms in Russia1," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 6(2), pages 361-387, November.
    31. Wright, Mike & Lockett, Andy & Clarysse, Bart & Binks, Martin, 2006. "University spin-out companies and venture capital," Research Policy, Elsevier, vol. 35(4), pages 481-501, May.
    32. Hans Bruining & Mike Wright, 2002. "Entrepreneurial orientation in management buy-outs and the contribution of venture capital," Venture Capital, Taylor & Francis Journals, vol. 4(2), pages 147-168, April.
    33. Wright, Mike & Lockett, Andy & Pruthi, Sarika, 2002. "Internationalization of Western Venture Capitalists into Emerging Markets: Risk Assessment and Information in India," Small Business Economics, Springer, vol. 19(1), pages 13-29, August.
    34. Alperovych, Yan & Amess, Kevin & Wright, Mike, 2013. "Private equity firm experience and buyout vendor source: What is their impact on efficiency?," European Journal of Operational Research, Elsevier, vol. 228(3), pages 601-611.
    35. Paul Westhead & Mike Wright, 1998. "Novice, Portfolio, and Serial Founders in Rural and Urban Areas," Entrepreneurship Theory and Practice, , vol. 22(4), pages 63-100, July.
    36. 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.
    37. Mmbaga, Nick A. & Mathias, Blake D. & Williams, David W. & Cardon, Melissa S., 2020. "A review of and future agenda for research on identity in entrepreneurship," Journal of Business Venturing, Elsevier, vol. 35(6).
    38. Mike Wright & Ken Robbie & Steve Thompson, 1991. "Corporate Restructuring, Buy‐Outs, And Managerial Equity: The European Dimension," Journal of Applied Corporate Finance, Morgan Stanley, vol. 3(4), pages 47-58, January.
    39. Ranko Jelic & Mike Wright, 2011. "Exits, Performance, and Late Stage Private Equity: the Case of UK Management Buy†outs," European Financial Management, European Financial Management Association, vol. 17(3), pages 560-593, June.
    40. Nick Wilson & Mike Wright, 2013. "Private Equity, Buy-outs and Insolvency Risk," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 40(7-8), pages 949-990, September.
    41. Salim Chahine & Igor Filatotchev & Mike Wright, 2007. "Venture Capitalists, Business Angels, and Performance of Entrepreneurial IPOs in the UK and France," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 34(3-4), pages 505-528.
    42. Charlie Weir & Mike Wright, 2006. "Governance and takeovers: are public-to-private transactions different from traditional acquisitions of listed corporations?," Accounting and Business Research, Taylor & Francis Journals, vol. 36(4), pages 289-307.
    43. Charlie Weir & David Laing & Mike Wright, 2005. "Incentive Effects, Monitoring Mechanisms and the Market for Corporate Control: An Analysis of the Factors Affecting Public to Private Transactions in the UK," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 32(5-6), pages 909-943.
    44. Ucbasaran, Deniz & Westhead, Paul & Wright, Mike, 2009. "The extent and nature of opportunity identification by experienced entrepreneurs," Journal of Business Venturing, Elsevier, vol. 24(2), pages 99-115, March.
    45. David Citron & Mike Wright & Rod Ball & Fred Rippington, 2003. "Secured Creditor Recovery Rates from Management Buy‐outs in Distress," European Financial Management, European Financial Management Association, vol. 9(2), pages 141-161, June.
    46. Andy Lockett & Mike Wright, 1999. "The syndication of private equity: Evidence from the UK," Venture Capital, Taylor & Francis Journals, vol. 1(4), pages 303-324, October.
    47. Sun, Pei & Wright, Mike & Mellahi, Kamel, 2010. "Is Entrepreneur–Politician Alliance Sustainable During Transition? The Case of Management Buyouts in China," Management and Organization Review, Cambridge University Press, vol. 6(1), pages 101-121, March.
    48. Meuleman, Miguel & Wright, Mike, 2011. "Cross-border private equity syndication: Institutional context and learning," Journal of Business Venturing, Elsevier, vol. 26(1), pages 35-48, January.
    49. Kevin Amess & Mike Wright, 2012. "Leveraged buyouts, private equity and jobs," Small Business Economics, Springer, vol. 38(4), pages 419-430, May.
    50. Charlie Weir & David Laing & Mike Wright, 2005. "Incentive Effects, Monitoring Mechanisms and the Market for Corporate Control: An Analysis of the Factors Affecting Public to Private Transactions in the UK," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 32(5‐6), pages 909-943, June.
    51. Sophie Manigart & Koen De Waele* & Mike Wright & Ken Robbie & Philippe Desbrières & Harry Sapienza & Amy Beekman, 2000. "Venture capitalists, investment appraisal and accounting information: a comparative study of the USA, UK, France, Belgium and Holland," European Financial Management, European Financial Management Association, vol. 6(3), pages 389-403, September.
    52. Mike Wright & Charlie Weir & Andrew Burrows, 2007. "Irrevocable Commitments, Going Private and Private Equity," European Financial Management, European Financial Management Association, vol. 13(4), pages 757-775, September.
    53. Cumming, Douglas & Deloof, Marc & Manigart, Sophie & Wright, Mike, 2019. "New directions in entrepreneurial finance," Journal of Banking & Finance, Elsevier, vol. 100(C), pages 252-260.
    54. Wright, Mike & Robbie, Ken & Ennew, Christine, 1997. "Venture capitalists and serial entrepreneurs," Journal of Business Venturing, Elsevier, vol. 12(3), pages 227-249, May.
    55. 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.
    56. Renneboog, Luc & Simons, Tomas & Wright, Mike, 2007. "Why do public firms go private in the UK? The impact of private equity investors, incentive realignment and undervaluation," Journal of Corporate Finance, Elsevier, vol. 13(4), pages 591-628, September.
    57. 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.
    58. Garry D. Bruton & Igor Filatotchev & Salim Chahine & Mike Wright, 2010. "Governance, ownership structure, and performance of IPO firms: the impact of different types of private equity investors and institutional environments," Strategic Management Journal, Wiley Blackwell, vol. 31(5), pages 491-509, May.
    59. Mike Wright & Igor Filatotchev & Robert E. Hoskisson & Mike W. Peng, 2005. "Strategy Research in Emerging Economies: Challenging the Conventional Wisdom," Journal of Management Studies, Wiley Blackwell, vol. 42(1), pages 1-33, January.
    60. Miguel Meuleman & Mike Wright & Sophie Manigart & Andy Lockett, 2009. "Private Equity Syndication: Agency Costs, Reputation and Collaboration," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 36(5-6), pages 616-644.
    61. Andrew Pendleton & Nicholas Wilson & Mike Wright, 1998. "The Perception and Effects of Share Ownership: Empirical Evidence from Employee Buy-Outs," British Journal of Industrial Relations, London School of Economics, vol. 36(1), pages 99-123, March.
    62. Mike Wright & Ken Robbie & Steve Thompson & Ken Starkey, 1994. "Longevity and the life‐cycle of management buy‐outs," Strategic Management Journal, Wiley Blackwell, vol. 15(3), pages 215-227, March.
    63. Thompson, Steve & Wright, Mike & Robbie, Ken, 1992. "Buy-Outs, Divestment, and Leverage: Restructuring Transactions and Corporate Governance," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 8(3), pages 58-69, Autumn.
    64. Haynes, Michelle & Thompson, Steve & Wright, Mike, 2000. "The determinants of corporate divestment in the UK," International Journal of Industrial Organization, Elsevier, vol. 18(8), pages 1201-1222, December.
    65. Ken Robbie & Mike Wright, 1995. "Managerial And Ownership Succession And Corporate Restructuring: The Case Of Management Buy‐Ins," Journal of Management Studies, Wiley Blackwell, vol. 32(4), pages 527-549, July.
    66. 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.
    67. Robbie, K & Wright, M & Thompson, S, 1992. "Management buy-ins in the UK," Omega, Elsevier, vol. 20(4), pages 445-456, July.
    68. Trevor Buck & Igor Filatotchev & Mike Wright, 1994. "Employee Buyouts and the Transformation of Russian Industry," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 36(2), pages 1-15, July.
    69. Wright, Mike & Jelic, Ranko, 2020. "Rumors of an Eclipse Are Exaggerated. The PE Model is Here to Stay," Annals of Corporate Governance, now publishers, vol. 5(3), pages 208-236, August.
    70. Grimaldi, Rosa & Kenney, Martin & Siegel, Donald S. & Wright, Mike, 2011. "30 years after Bayh-Dole: Reassessing academic entrepreneurship," Research Policy, Elsevier, vol. 40(8), pages 1045-1057, October.
    71. Mike Wright & Andy Lockett & Sarika Pruthi & Sophie Manigart & Harry Sapienza & Philippe Desbrieres & Ulrich Hommel, 2004. "Venture Capital Investors, Capital Markets, Valuation and Information: US, Europe and Asia," Journal of International Entrepreneurship, Springer, vol. 2(4), pages 305-326, December.
    72. Lockett, Andy & Wright, Mike, 2005. "Resources, capabilities, risk capital and the creation of university spin-out companies," Research Policy, Elsevier, vol. 34(7), pages 1043-1057, September.
    73. Yao Li & Mike Wright & Louise Scholes & Ziwei Zhang, 2019. "The Role of Private Equity When Portfolio Firms Go Public: Evidence from ChiNext Board," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 55(12), pages 2851-2870, September.
    74. Steve Thompson & Mike Wright & Ken Robbie, 1989. "Management Buy‐outs, Debt, and Efficiency: Some Evidence From the U.K," Journal of Applied Corporate Finance, Morgan Stanley, vol. 2(1), pages 76-86, March.
    75. Bruneel, Johan & Clarysse, Bart & Bobelyn, Annelies & Wright, Mike, 2020. "Liquidity events and VC-backed academic spin-offs: The role of search alliances," Research Policy, Elsevier, vol. 49(10).
    76. Judit Karsai & Mike Wright & Zbigniew Dudzinski & Jan Morovic, 1998. "Screening and valuing venture capital investments: evidence from Hungary, Poland and Slovakia," Entrepreneurship & Regional Development, Taylor & Francis Journals, vol. 10(3), pages 203-224, January.
    77. Sophie Manigart & Andy Lockett & Miguel Meuleman & Mike Wright & Hans Landström & Hans Bruining & Philippe Desbrières & Ulrich Hommel, 2006. "Venture Capitalists' Decision to Syndicate," Post-Print halshs-00078062, HAL.
    78. Ranko Jelic & Brahim Saadouni & Mike Wright, 2005. "Performance of Private to Public MBOs: The Role of Venture Capital," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 32(3‐4), pages 643-682, April.
    79. Igor Filatotchev & Mike Wright & Mufit Arberk, 2006. "Venture Capitalists, Syndication and Governance in Initial Public Offerings," Small Business Economics, Springer, vol. 26(4), pages 337-350, May.
    80. Wright, Mike, 1985. "Divestment and organizational adaptation," European Management Journal, Elsevier, vol. 3(2), pages 85-93, June.
    81. 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.
    82. Westhead, Paul & Wright, Mike & Ucbasaran, Deniz, 2001. "The internationalization of new and small firms: A resource-based view," Journal of Business Venturing, Elsevier, vol. 16(4), pages 333-358, July.
    83. Bart Clarysse & Mike Wright & Andy Lockett & Philippe Mustar & Mirjam Knockaert, 2007. "Academic spin-offs, formal technology transfer and capital raising," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 16(4), pages 609-640, August.
    84. Howorth, Carole & Westhead, Paul & Wright, Mike, 2004. "Buyouts, information asymmetry and the family management dyad," Journal of Business Venturing, Elsevier, vol. 19(4), pages 509-534, July.
    85. Thompson, R S & Wright, Mike & Robbie, Ken, 1992. "Management Equity Ownership, Debt and Performance: Some Evidence from UK Management Buyouts," Scottish Journal of Political Economy, Scottish Economic Society, vol. 39(4), pages 413-430, November.
    86. Wilson, Nick & Wright, Mike & Kacer, Marek, 2018. "The equity gap and knowledge-based firms," Journal of Corporate Finance, Elsevier, vol. 50(C), pages 626-649.
    87. Ranko Jelic & Brahim Saadouni & Mike Wright, 2005. "Performance of Private to Public MBOs: The Role of Venture Capital," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 32(3-4), pages 643-682.
    88. 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.
    89. Wilson, Nick & Wright, Mike & Siegel, Donald S. & Scholes, Louise, 2012. "Private equity portfolio company performance during the global recession," Journal of Corporate Finance, Elsevier, vol. 18(1), pages 193-205.
    90. Chrisman, James J. & Chua, Jess H. & Steier, Lloyd P. & Wright, Mike & McKee, D’Lisa N., 2012. "An agency theoretic analysis of value creation through management buy-outs of family firms," Journal of Family Business Strategy, Elsevier, vol. 3(4), pages 197-206.
    91. 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.
    92. Hans Bruining & Ernst Verwaal & Mike Wright, 2013. "Private equity and entrepreneurial management in management buy-outs," Small Business Economics, Springer, vol. 40(3), pages 591-605, April.
    93. Lockett, Andy & Siegel, Donald & Wright, Mike & Ensley, Michael D., 2005. "The creation of spin-off firms at public research institutions: Managerial and policy implications," Research Policy, Elsevier, vol. 34(7), pages 981-993, September.
    94. Hady Farag & Ulrich Hommel & Peter Witt & Mike Wright, 2004. "Contracting, monitoring, and exiting venture investments in transitioning economies: A comparative analysis of Eastern European and German markets," Venture Capital, Taylor & Francis Journals, vol. 6(4), pages 257-282, October.
    95. Mike Wright & Steve Thompson & Ken Robbie, 1996. "Buy‐ins, Buy‐outs, Active Investors and Corporate Governance," Corporate Governance: An International Review, Wiley Blackwell, vol. 4(4), pages 222-234, October.
    96. Nikoskelainen, Erkki & Wright, Mike, 2007. "The impact of corporate governance mechanisms on value increase in leveraged buyouts," Journal of Corporate Finance, Elsevier, vol. 13(4), pages 511-537, September.
    97. Lockett, Andy & Murray, Gordon & Wright, Mike, 2002. "Do UK venture capitalists still have a bias against investment in new technology firms," Research Policy, Elsevier, vol. 31(6), pages 1009-1030, August.
    98. Mike Wright, 1986. "The Make‐Buy Decision And Managing Markets: The Case Of Management Buy‐Outs," Journal of Management Studies, Wiley Blackwell, vol. 23(4), pages 443-464, July.
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    Keywords

    Management buy-out; Management buy-in; Entrepreneurial finance; Venture capital; Private equity;
    All these keywords.

    JEL classification:

    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship

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