Author's profile

Mike Wright
Imperial College Business School, Imperial College, and University of Ghent, Belgium

Background

Author articles

  • Any Industry

    The impact of private equity backed leveraged buyouts (LBOs) has attracted increased regulatory scrutiny in the past two decades. This reflects the private equity industry's growing economic importance, and also the increased activity of private equity firms beyond their traditional US and UK markets. Private equity's growing presence in continental Europe in particular has caused considerable public controversy in terms of implications for workers and labour unions. This paper explores the impact of private equity LBOs on three labour management issues central to recent debates: employment and wages; human resource management practices; and industrial relations. We concentrate on these aspects because the impact of private equity LBOs on labour management and workers' interests continues to inform debates concerning the appropriate regulatory framework in which the private equity industry operates.

    08/01/2013 | 4,585
  • Any Industry

    Private equity firms are accused of increasing the short-term performance of buyouts by reducing investments in human capital. To explore this issue, this paper presents findings from the first representative pan-European survey of managers' perceptions of the impact of private equity on management practices in buyouts. Managers report that private equity investment results in an overall increase in high performance work practices (HPWPs), and the increase is greater where private equity firms anticipate a late exit. Anglo-American private equity buyouts are just as likely to introduce new HPWPs as non-Anglo-American private equity backed buyouts, and also extend financial incentives to cover a greater proportion of employees.

    23/11/2012 | 1,847