The DOI matches its Crossref record; 21 of the 21 references it cites were found in a registry or an index.
Do Private Equity Owned Firms Have Better Management Practices?
Abstract
Using an innovative survey measure of management practices on over 15,000 firms, we find private equity firms are better managed than government, family, and privately owned firms, and have similar management to publicly listed firms. This is true both in developed and developing countries. Looking at management practices in detail we find that private equity owned firms have strong people management practices (hiring, firing, pay, and promotions), but even stronger monitoring management practices (lean manufacturing, continuous improvement, and monitoring). Plant managers working in private equity owned firms also report greater autonomy from headquarters over sales, marketing, and new product introduction.
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Citations
Cites
Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers
Jensen, M. C. (1986) · Cited by 17,275
On the Size Distribution of Business Firms
Lucas, R. E. (1978) · The Bell Journal of Economics · doi:10.2307/3003596 · Cited by 3,236
Measuring and Explaining Management Practices Across Firms and Countries
Bloom, N., & Van Reenen, J. (2007) · The Quarterly Journal of Economics · doi:10.1162/qjec.2007.122.4.1351 · Cited by 2,373
Self-citationCompetition and innovation: an inverted U relationship
Blundell, R., Howitt, P., Griffith, R., Aghion, P., & Bloom, N. (2002) · Working Paper Series · doi:10.1920/wp.ifs.2002.0204 · Cited by 2,109
Self-citationPay without performance: the unfulfilled promise of executive compensation
(2005) · Choice Reviews Online · doi:10.5860/choice.42-4735 · Cited by 1,936
Eclipse of the Public Corporation
Jensen, M. C. (1999) · SSRN Electronic Journal · doi:10.2139/ssrn.146149 · Cited by 1,656
Measuring and Explaining Management Practices Across Firms and Countries
Bloom, N., & Van Reenen, J. (2006) · National Bureau of Economic Research · doi:10.3386/w12216 · Cited by 1,450
Self-citationDo People Mean What They Say? Implications for Subjective Survey Data
Bertrand, M., & Mullainathan, S. (2001) · American Economic Review · doi:10.1257/aer.91.2.67 · Cited by 1,391
The effects of management buyouts on operating performance and value
Kaplan, S. (1989) · Journal of Financial Economics · doi:10.1016/0304-405x(89)90047-0 · Cited by 1,319
Inside the Family Firm: The Role of Families in Succession Decisions and Performance
Bennedsen, M., Nielsen, K., Pérez-González, F., & Wolfenzon, D. (2006) · National Bureau of Economic Research · doi:10.3386/w12356 · Cited by 783
Cited by
Rossini, M., Costa, F., Tortorella, G. L., & Portioli-Staudacher, A. (2019) · The International Journal of Advanced Manufacturing Technology · doi:10.1007/s00170-019-03441-7 · Cited by 264
Metadata
- Authors
- Bloom, N., Sadun, R., & Van Reenen, J.
- Venue
- American Economic Review
- Publisher
- American Economic Association
- Published
- 2015-05-01
- Volume
- 105
- Issue
- 5
- Pages
- 442-446
- ISSN
- 0002-8282 (ISSN-L)
- OpenAlex
- W1533803515
- Cited by
- 259
- References
- 21
- FWCI
- 117.89
- Type
- journal article
- Language
- en
- Open access
- closed
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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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