In this paper, we highlight the key changes in the PE governance model especially relevant to governance in secondary buyouts (SBOs). Generally, buyouts can be PE-backed or non-PE backed deals. We focus on PE-backed SBOs and PE-backed primary buyouts (PBO). We also survey recent literature on...

We examine the impact of private equity (PE) directors and their human capital on operating performance in a unique hand collected sample of 200 secondary management buyouts (SMBOs) during 2000-2015. We show that PE directors' human capital tends to play statistically and economically important...

The stock market materially and positively responds to released information on possible offers, likely because such announcements signal the high probability that formal bids will be offered. If potential takeover discussions are revealed earlier, then target shareholders will gain significantly...

This study examines the impact of cross-border mergers and acquisitions (M&As) on acquirers’ corporate social responsibility (CSR). Based on a sample of Chinese listed firms, we find that firms with cross-border M&A activities experience an improvement in subsequent CSR performance, and this...