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The effects of private equity buyouts on employment, productivity, and job reallocation vary tremendously with … millions of control firms. Employment shrinks 13% over two years after buyouts of publicly listed firms - on average, and … of credit conditions or slowing of GDP growth curtails employment growth and intra-firm job reallocation at target firms …
Persistent link: https://www.econbiz.de/10013163171
This study examines the governance attributes of post-IPO (initial public offering) retained ownership of private equity in business group constituent firms in contrast to their unaffiliated counterparts, in 202 newly listed firms in 22 emerging African economies. We adopt an actor centred...
Persistent link: https://www.econbiz.de/10011343015
a private equity buyout. Unemployment risk declines despite lower employment growth for continuing establishments … - attributable to hiring freezes rather than to layoffs - and a lack of change in firm level employment growth. A plausible …, for non-divisional buyouts, and for buyouts just prior to 2001. -- Buyouts ; Employment ; Financial Constraints ; LBO …
Persistent link: https://www.econbiz.de/10009530911
Private equity buyouts have sparked debates among labor unions and worker representatives on how they affect workers. This chapter provides an overview of academic evidence on how private equity buyouts affect workers. We review the theoretical reasons why employees could be affected and then...
Persistent link: https://www.econbiz.de/10014393375
Although private equity firms are often criticized for layoffs, little evidence exists regarding which employees lose their jobs and why. We argue that explanations for the job polarization process can also explain layoffs after buyouts. Buyouts reduce agency problems, which triggers automation,...
Persistent link: https://www.econbiz.de/10010509073
On May 11-12, 2011, SUERF, the Belgian Financial Forum, the Brussels Finance Institute and the Centre for European Policy Studies (CEPS) jointly organised the 29th SUERF Colloquium New paradigms in money and finance? The papers included in this SUERF Study are based on contributions to the...
Persistent link: https://www.econbiz.de/10011711451
This paper investigates the effect of superstar CEOs on their competitors. Exploiting shocks to CEO status due to prestigious media awards, we document a significant positive stock market performance of competitors of superstar CEOs subsequent to the award. The effect is more pronounced for...
Persistent link: https://www.econbiz.de/10011344197
, depending on buyout type and external conditions. Employment at target firms shrinks 13% over two years in buyouts of publicly … credit conditions. A post-buyout widening of credit spreads or slowdown in GDP growth lowers employment growth at targets and …
Persistent link: https://www.econbiz.de/10012631151
There is a widespread belief among observers that a lower premium is paid when the target CEO is retained by the acquirer in a private equity deal because the CEO's potential conflicts of interest leads her to negotiate less aggressively on behalf of the target shareholders. Our empirical...
Persistent link: https://www.econbiz.de/10011963282
the real economic effect of buyouts: employment, wages, productivity, and long-run investments. Employment tend to … regarding effects on long-run investments. -- Employment ; innovation ; lveraged buyouts ; long-run investments ; private equity …
Persistent link: https://www.econbiz.de/10008654164