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Private Equity and Management Buy-outs

Private Equity and Management Buy-outs

          
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About the Book

Private Equity and Management Buy-outs provides a balanced view of the often polarized private equity debate. This careful and objective analysis of the presence of private equity in buy-out firms reviews the effects of this ownership transfer in terms of firm performance and survival, thus placing private equity in a broader context of implications for value creation.The analysis provides an overview of international trends in private equity and develops a conceptual framework for understanding the heterogeneity of private equity deals. Systematic evidence from large-scale studies of private equity and buy-outs are used to shed light on short- and longer-term economic and social effects. For the first time the broader scope of the key issues now facing private equity and buy-outs are brought together in the contributions herein. The book includes highlights such as: empirical evidence on a special organizational form of private equity; examination of backed buy-outs (perspectives from strategy, finance, HRM and management accounting); discussion on the level of PE involvement; challenging further debate on economic and social key issues regarding policy implications and a future research agenda. Academics and researchers - postgraduate and above - in business schools and schools of economics will find this book enlightening. It will also hold great interest for practitioners in the fields of mergers and acquisitions, general, strategic and financial management, and corporate entrepreneurship and corporate governance.

Table of Contents:
Contents: Preface PART I: INTRODUCTION 1. Private Equity and Management Buy-outs: International Trends, Evidence and Policy Implications Mike Wright and Hans Bruining PART II: THEORETICAL PERSPECTIVES 2. Entrepreneurial Growth through Privatization: The Upside of Management Buyouts Mike Wright, Robert E. Hoskisson, Lowell W. Busenitz and Jay Dial PART III: SOURCES OF BUY-OUT 3. Why do Public Firms go Private in the UK? The Impact of Private Equity Investors, Incentive Realignment and Undervaluation Luc Renneboog, Tomas Simons and Mike Wright 4. Irrevocable Commitments, Going Private and Private Equity Mike Wright, Charlie Weir and Andrew Burrows 5. Information Sharing, Price Negotiation and Management Buy-outs of Private Family-owned Firms M. Louise Scholes, Mike Wright, Paul Westhead, Andrew Burrows and Hans Bruining PART IV: ENTREPRENEURSHIP AND VALUE CREATION 6. Management Control Systems and Strategy Change in Buy-outs Hans Bruining, Marcel Bonnet and Mike Wright 7. Entrepreneurial Orientation in Management Buy-outs and the Contribution of Venture Capital Hans Bruining and Mike Wright 8. Management Buyouts and Restructuring Japanese Corporations Mike Wright, Motoya Kitamura and Robert E. Hoskisson PART V: IMPACT OF BUY-OUTS 9. Assessing the Impact of Management Buyouts on Economic Efficiency: Plant-Level Evidence from the United Kingdom Richard Harris, Donald S. Siegel and Mike Wright 10. Post-privatization Effects of Management and Employee Buy-outs Mike Wright, Trevor Buck and Igor Filatotchev 11. The Impact of Business Ownership Change on Employee Relations: Buy-outs in the UK and the Netherlands Hans Bruining, Paul Boselie, Mike Wright and Nicolas Bacon 12. The Wage and Employment Effects of Leveraged Buyouts in the UK Kevin Amess and Mike Wright PART VI: INVESTMENT REALIZATION: SUCCESS AND FAILURE 13. The Impact of Corporate Gvernance Mechanisms on Value Increase in Leveraged Buyouts Erkki Nikoskelainen and Mike Wright 14. Performance of Private to Public MBOs: The Role of Venture Capital Ranko Jelic, Brahim Saadouni and Mike Wright 15. Secured Creditor Recovery Rates from Management Buy-outs in Distress David Citron, Mike Wright, Rod Ball and Fred Rippington Index


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Product Details
  • ISBN-13: 9781847207258
  • Publisher: Edward Elgar Publishing Ltd
  • Publisher Imprint: Edward Elgar Publishing Ltd
  • Depth: 25
  • Language: English
  • Weight: 514 gr
  • ISBN-10: 1847207251
  • Publisher Date: 29 Aug 2008
  • Binding: Hardback
  • Height: 234 mm
  • No of Pages: 528
  • Width: 156 mm


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