relationships, in particular trust, allow managers to arrange a business in a more productive way; high-trust firms are both more … profitable and faster growing. For example, if they are trusted, managers can delegate decisions to employees with confidence …

management position. However, if non-contractible managerial decision rights give rise to private benefits and preference … misalignment between managers and the firm, these two purposes are in conflict. This is because the worker with the largest private …: employees that create lower expected profits as managers have yet better promotion prospects. That finding still holds when the …

Since years, incentives for the management have become a standard upon acquisitions of companies by Private Equity … management participations and potential conflicts of interest especially on occasion of sales from one Private Equity Investor to … another - so-called Secondary Buy-Outs. This present study is based on a survey among Private Equity Investors and Management …