The DOI matches its Crossref record; 3 of the 3 references it cites were found in a registry or an index.
Private Equity, Jobs, and Productivity
Abstract
Private equity critics claim that leveraged buyouts bring huge job losses and few gains in operating performance. To evaluate these claims, we construct and analyze a new dataset that covers US buyouts from 1980 to 2005. We track 3,200 target firms and their 150,000 establishments before and after acquisition, comparing to controls defined by industry, size, age, and prior growth. Buyouts lead to modest net job losses but large increases in gross job creation and destruction. Buyouts also bring TFP gains at target firms, mainly through accelerated exit of less productive establishments and greater entry of highly productive ones. (JEL D24, G24, G32, G34, J23, J63, L25)
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Cites
Mostly Harmless Econometrics: An Empiricist's Companion
Angrist, J. D., & Pischke, J.-S. (2008) · doi:10.2307/j.ctvcm4j72 · Cited by 5,051
Syverson, C. (2011) · Journal of Economic Literature · doi:10.1257/jel.49.2.326 · Cited by 2,942
Is there Discretion in Wage Setting? A Test Using Takeover Legislation
Bertrand, M., & Mullainathan, S. (1999) · The RAND Journal of Economics · doi:10.2307/2556062 · Cited by 221
Cited by
Syverson, C. (2011) · Journal of Economic Literature · doi:10.1257/jel.49.2.326 · Cited by 2,942
What Drives Differences in Management Practices?
Bloom, N., Brynjolfsson, E., Foster, L., Jarmin, R., Patnaik, M., Saporta-Eksten, I., & Van Reenen, J. (2019) · American Economic Review · doi:10.1257/aer.20170491 · Cited by 502
Self-citationWhat do private equity firms say they do?
Gompers, P., Kaplan, S. N., & Mukharlyamov, V. (2016) · Journal of Financial Economics · doi:10.1016/j.jfineco.2016.06.003 · Cited by 377
Corporate Governance and Pollution Externalities of Public and Private Firms*
Shive, S. A., & Forster, M. M. (2020) · The Review of Financial Studies · doi:10.1093/rfs/hhz079 · Cited by 343
Do Private Equity Owned Firms Have Better Management Practices?
Bloom, N., Sadun, R., & Van Reenen, J. (2015) · American Economic Review · doi:10.1257/aer.p20151000 · Cited by 259
Metadata
- Authors
- Davis, S. J., Haltiwanger, J., Handley, K., Jarmin, R., Lerner, J., & Miranda, J.
- Venue
- American Economic Review
- Publisher
- American Economic Association
- Published
- 2014-12-01
- Volume
- 104
- Issue
- 12
- Pages
- 3956-3990
- ISSN
- 0002-8282 (ISSN-L)
- OpenAlex
- W3123160751
- Cited by
- 344
- References
- 3
- FWCI
- 81.16
- Type
- journal article
- Language
- en
- Open access
- closed
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- Davis, S. J., Haltiwanger, J., Handley, K., Jarmin, R., Lerner, J., & Miranda, J. (2014). Private Equity, Jobs, and Productivity. American Economic Review. https://doi.org/10.1257/aer.104.12.3956
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
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