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The impact of private equity on management practices in European buy-outs: short-termism, Anglo-Saxon, or host country effects?
journal contribution
posted on 2016-01-07, 15:15 authored by Nick Bacon, Mike Wright, Miguel Meuleman, Louise ScholesLouise ScholesThis article explores the impact of private equity (PE) firms on human resource management practices in buy-outs using data drawn from the first representative pan-European survey into this issue. The findings suggest the overall impact of PE on high-performance work practices (HPWP) is affected more by length of the investment relationship than the countries where PE is going to or is coming from. PE investment results in the increased use of HPWP in buy-outs the longer the anticipated time to exit. With respect to the PE firms’ country of origin, buy-outs backed by Anglo-Saxon PE firms are as likely to introduce new HPWP (and are specifically more likely to extend performance-related pay schemes) as those backed by non-Anglo-Saxon PE firms, suggesting some adaptation to the local host country contexts of buy-outs.
History
School
- Loughborough University London
Published in
Industrial Relations: A Journal of Economy and SocietyVolume
51Pages
605 - 626Citation
BACON, N. ... et al., 2012. The impact of private equity on management practices in European buy-outs: short-termism, Anglo-Saxon, or host country effects? Industrial Relations: A Journal of Economy and Society, 51 (s1), pp. 605 - 626.Publisher
John Wiley & Sons, Inc. © Regents of the University of CaliforniaVersion
- VoR (Version of Record)
Publisher statement
This work is made available according to the conditions of the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0) licence. Full details of this licence are available at: https://creativecommons.org/licenses/by-nc-nd/4.0/Publication date
2012Notes
Closed accessISSN
0019-8676Publisher version
Language
- en