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.
