Purpose: This papers analyses the case study of UK fashion retailer New Look and focuses on the impact of private equity on corporate governance, employment and leverage after the public-to-private transaction in 2003. Design/methodology/approach: We follow a single case study approach to offer...

Fund-of-fund investments in private equity are becoming increasingly popular due to their potential to diversify across several private equity funds. However, due to the illiquidity and opaqueness of private equity markets only limited knowledge is available on the actual risk profile of...

This paper studies the motives behind private equity acquisitions of publicly listed firms in continental Europe. As corporate control and ownership in continental Europe tend to be highly concentrated, we argue that it is important to take into account the incentives of the incumbent large...

In order to implement and scale their ideas to solve social problems, social entrepreneurs need financial as well as non-financial support from external investors. At the same time, there is no common reporting standard instructing social entrepreneurs how to measure and report their...

We address the question of whether hedge fund and private equity investments in public firms are motivated by corporate governance improvements. As opposed to traditional financial investors both HF and PE are likely to have the incentives to alleviate agency conflicts. However, against the...

Research and innovation are extremely important for Germany. New insights are generated by research, and new ways of creating value are opened up by technical, organisational, and other innovations. Production, value-creation and employment tend to increase much more in companies which are...

Private equity investments in family firms are so far only barely covered in academic research. In particular, the initiation process leading towards a successful private equity deal has to be better understood. Thereby, not only the formal process steps but also the personal relationships...

We research the preferences and outcomes of direct venture capital investment of charitable foundations and university endowments in the United States and the United Kingdom. Our analysis provides evidence that foundations' and endowments' venture capital direct investments are clustered in...

Over the past three decades, universities in industrialized countries have become increasingly active as venture capital financiers. Here, we analyze if investments in university-affiliated portfolio companies, in the form of an institutional-personal relation between the university and the...

Using a unique proprietary data set of 1,980 realized and unrealized buyouts completed between 1986 and 2010, we examine entry and exit pricing in buyouts and its influence on private equity (PE) sponsors' returns. We find that besides leverage and operational improvements, EBITDA multiple...