- [UNTITLED]
- List of Figures
- List of Tables
- Abbreviations
- Contributors
- Introduction
- Regulation and Comparative Corporate Governance
- The History of Corporate Governance
- Capital Markets and Financial Politics: Preferences and Institutions
- An International Corporate Governance Index
- Boards and Governance: 25 Years of Qualitative Research with Directors of FTSE Companies
- Process Matters: Understanding Board Behavior and Effectiveness
- Board Committees
- The Governance of Director Networks
- Executive Compensation and Corporate Governance: What Do We “Know” and Where Are We Going?
- Corporate Governance: Ownership Interests, Incentives, and Conflicts
- Financial Leverage and Corporate Governance
- Financial Reporting, Disclosure, and Corporate Governance
- Auditing and Corporate Governance
- The Market for Corporate Control
- The Life Cycle of Corporate Governance
- Corporate Governance in High-Tech Firms
- Family Business and Corporate Governance
- Corporate Governance in IPOs
- Corporate Governance, Multinational Firms, and Internationalization
- Corporate Governance in Business Groups
- Governance in Financial Distress and Bankruptcy
- Venture Capital and Corporate Governance
- Private Equity, Leveraged Buyouts, and Corporate Governance
- Hedge Fund Activism and Corporate Governance
- The Financial Role of Sovereign Wealth Funds
- Corporate Governance and Nonprofits: Facing up to Hybridization and Homogenization
- Corporate Governance and Labor
- Corporate Governance and Principal–Principal Conflicts
- Multiple Agency Theory: An Emerging Perspective on Corporate Governance
- An Age of Corporate Governance Failure?: Financialization and its Limits
- Corporate Governance and Corporate Social Responsibility
- Index
Abstract and Keywords
This chapter takes a look at private equity, which usually refers to the funding of leveraged buyouts (LBOs) of well-known firms. It aims to improve the understanding of private equity and LBOs by reviewing a theory related to private equity and the evidence of its impact. This review includes a number of articles in entrepreneurship, finance, strategy, economics, and human resource management. It first summarizes the theoretical perspectives related to why private equity governance may have positive or negative effects on economic, social, and financial performance. It then reviews important empirical evidence from studies during the first and second waves.
Keywords: private equity, leveraged buyouts, theoretical perspectives, private equity governance, empirical evidence
Mike Wright, Imperial College Business School.
Donald S. Siegel is Dean of the Business School at the University at Albany, SUNY. Recent publications include Innovation, Entrepreneurship, and Technological Change (Oxford University Press) and articles on CSR in Academy of Management Review, Journal of Management Studies, Journal of Economics and Management Strategy, and Leadership Quarterly. He is editor of the Journal of Technology Transfer, an associate editor of the Journal of Business Venturing and the Journal of Productivity Analysis, and serves on the editorial boards of the Journal of Management Studies, Academy of Management Perspectives, Academy of Management Learning & Education, and Strategic Entrepreneurship Journal.
Miguel Meuleman, Vlerick Leuven Gent Management School, University of Ghent
Kevin Amess, Nottingham University Business School, University of Nottingham
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- [UNTITLED]
- List of Figures
- List of Tables
- Abbreviations
- Contributors
- Introduction
- Regulation and Comparative Corporate Governance
- The History of Corporate Governance
- Capital Markets and Financial Politics: Preferences and Institutions
- An International Corporate Governance Index
- Boards and Governance: 25 Years of Qualitative Research with Directors of FTSE Companies
- Process Matters: Understanding Board Behavior and Effectiveness
- Board Committees
- The Governance of Director Networks
- Executive Compensation and Corporate Governance: What Do We “Know” and Where Are We Going?
- Corporate Governance: Ownership Interests, Incentives, and Conflicts
- Financial Leverage and Corporate Governance
- Financial Reporting, Disclosure, and Corporate Governance
- Auditing and Corporate Governance
- The Market for Corporate Control
- The Life Cycle of Corporate Governance
- Corporate Governance in High-Tech Firms
- Family Business and Corporate Governance
- Corporate Governance in IPOs
- Corporate Governance, Multinational Firms, and Internationalization
- Corporate Governance in Business Groups
- Governance in Financial Distress and Bankruptcy
- Venture Capital and Corporate Governance
- Private Equity, Leveraged Buyouts, and Corporate Governance
- Hedge Fund Activism and Corporate Governance
- The Financial Role of Sovereign Wealth Funds
- Corporate Governance and Nonprofits: Facing up to Hybridization and Homogenization
- Corporate Governance and Labor
- Corporate Governance and Principal–Principal Conflicts
- Multiple Agency Theory: An Emerging Perspective on Corporate Governance
- An Age of Corporate Governance Failure?: Financialization and its Limits
- Corporate Governance and Corporate Social Responsibility
- Index
