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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 07.01.2016, 15:15 by Nick Bacon, Mike Wright, Miguel Meuleman, Louise ScholesLouise Scholes
This 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 Society

Volume

51

Pages

605 - 626

Citation

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 California

Version

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

2012

Notes

Closed access

ISSN

0019-8676

Language

en

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Keywords

Exports