This report takes a closer look at a crucial aspect of private equity (PE), namely the ability of PE firms to exit from their investments in a manner that crystallizes the value created over the period of their ownership. Specifically, it considers exits from private equity investments in Asia's...

Managerial delegation is essential for firm growth. While firms in poor countries often shun outside managers and instead recruit among family members, the pattern is quite the opposite for firms in rich countries. In this paper, we ask whether these differences in managerial delegation have...