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The impact of private equity on management practices in European buy-outs : short-termism, Anglo-Saxon, or host country effects?

Nick Bacon, Mike Wright, Miguel Meuleman (UGent) and Louise Scholes
(2012) INDUSTRIAL RELATIONS. 51(Suppl. 1). p.605-626
Author
Organization
Abstract
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.
Keywords
Management of Technology and Innovation, Organizational Behavior and Human Resource Management, Strategy and Management, Industrial relations, HUMAN-RESOURCE MANAGEMENT, LEVERAGED BUYOUTS, WORK PRACTICES, PERFORMANCE, UK, GOVERNANCE, OWNERSHIP, AGENCY, HRM

Citation

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MLA
Bacon, Nick, et al. “The Impact of Private Equity on Management Practices in European Buy-Outs : Short-Termism, Anglo-Saxon, or Host Country Effects?” INDUSTRIAL RELATIONS, vol. 51, no. Suppl. 1, 2012, pp. 605–26, doi:10.1111/j.1468-232x.2012.00692.x.
APA
Bacon, N., Wright, M., Meuleman, M., & Scholes, L. (2012). The impact of private equity on management practices in European buy-outs : short-termism, Anglo-Saxon, or host country effects? INDUSTRIAL RELATIONS, 51(Suppl. 1), 605–626. https://doi.org/10.1111/j.1468-232x.2012.00692.x
Chicago author-date
Bacon, Nick, Mike Wright, Miguel Meuleman, and Louise Scholes. 2012. “The Impact of Private Equity on Management Practices in European Buy-Outs : Short-Termism, Anglo-Saxon, or Host Country Effects?” INDUSTRIAL RELATIONS 51 (Suppl. 1): 605–26. https://doi.org/10.1111/j.1468-232x.2012.00692.x.
Chicago author-date (all authors)
Bacon, Nick, Mike Wright, Miguel Meuleman, and Louise Scholes. 2012. “The Impact of Private Equity on Management Practices in European Buy-Outs : Short-Termism, Anglo-Saxon, or Host Country Effects?” INDUSTRIAL RELATIONS 51 (Suppl. 1): 605–626. doi:10.1111/j.1468-232x.2012.00692.x.
Vancouver
1.
Bacon N, Wright M, Meuleman M, Scholes L. The impact of private equity on management practices in European buy-outs : short-termism, Anglo-Saxon, or host country effects? INDUSTRIAL RELATIONS. 2012;51(Suppl. 1):605–26.
IEEE
[1]
N. Bacon, M. Wright, M. Meuleman, and L. Scholes, “The impact of private equity on management practices in European buy-outs : short-termism, Anglo-Saxon, or host country effects?,” INDUSTRIAL RELATIONS, vol. 51, no. Suppl. 1, pp. 605–626, 2012.
@article{01GSSKB6SS5MWJXJMCNHN5JQG9,
  abstract     = {{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.}},
  author       = {{Bacon, Nick and Wright, Mike and Meuleman, Miguel and Scholes, Louise}},
  issn         = {{0019-8676}},
  journal      = {{INDUSTRIAL RELATIONS}},
  keywords     = {{Management of Technology and Innovation,Organizational Behavior and Human Resource Management,Strategy and Management,Industrial relations,HUMAN-RESOURCE MANAGEMENT,LEVERAGED BUYOUTS,WORK PRACTICES,PERFORMANCE,UK,GOVERNANCE,OWNERSHIP,AGENCY,HRM}},
  language     = {{eng}},
  number       = {{Suppl. 1}},
  pages        = {{605--626}},
  title        = {{The impact of private equity on management practices in European buy-outs : short-termism, Anglo-Saxon, or host country effects?}},
  url          = {{http://doi.org/10.1111/j.1468-232x.2012.00692.x}},
  volume       = {{51}},
  year         = {{2012}},
}
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