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Book Description

Management Buyouts (MBOs) first came to prominence in the US during the early 1980s, and have subsequently become a global phenomenon and a highly significant transaction within the corporate restructuring landscape

Although much recent attention has focused on private equity (PE) backed buyouts, these are only a subset of the total MBO market. The Routledge Companion to Management Buyouts takes a much broader definition, reviewing the current state of research and theory and where further developments are likely to occur and incorporating PE and non-PE backed buyouts, as well as variations such as management buy-ins and management-employee buyouts. It goes beyond the purely financial perspective, exploring the many different aspects of management buyouts and incorporating related disciplines including strategy, organizational change, and HRM providing the first truly comprehensive authoritative resource on the topic.

Expertly edited, and drawing on international scholarship, this unique volume will be an invaluable sourcebook on MBOs for researchers and advanced students as well as those interested in the broader areas of corporate restructuring and ownership change.

 

Table of Contents

  1. Cover
  2. Title Page
  3. Copyright Page
  4. Dedication
  5. Contents
  6. Figures and tables
  7. Contributors
  8. Preface
  9. 1. Management buyouts: an introduction and overview
  10. Part I: Historical, legal, and regulatory issues
    1. 2. A brief history of private equity
    2. 3. Management buyouts: the history of an organizational innovation
    3. 4. Interpreting the M&A black box by thinking outside the box
    4. 5. Policy, regulation, and private equity: a rich research agenda?
  11. Part II: Vendor sources
    1. 6. Management buyouts and divestment
    2. 7. Public-to-private leveraged buyouts
    3. 8. “My children do not want the firm”: private equity as a succession option in family businesses – a review and future directions
    4. 9. Buyouts of family firms: company metamorphosis and the family management dyad
    5. 10. Buyouts from failure
    6. 11. Just another business: private equity in health services
    7. 12. The Chinese style management buyouts
  12. Part III: Financing, structuring, and private equity firms
    1. 13. The evolution and strategic positioning of private equity firms
    2. 14. Are lower private equity returns the new normal?
    3. 15. Collaboration decisions in private equity investments
    4. 16. Private equity in emerging economies: which markets are sufficiently mature? Should investors wait or invest immediately?
    5. 17. Private equity investment in entrepreneurial companies: selection & performance
    6. 18. Hedge funds and private equity: features, diversity, and regulations
  13. Part IV: Post-MBO firm behavior
    1. 19. Innovation in private equity leveraged buyouts
    2. 20. Buyouts and investment
    3. 21. Entrepreneurship, context, and buyouts
    4. 22. Resource orchestration post-management buyout
    5. 23. The political economy of finance-led capitalism: connecting financialization, private equity, and employment outcomes
    6. 24. HRM practices
  14. Part V: Performance and life cycle
    1. 25. The impact on productivity of management buyouts and private equity
    2. 26. Leveraged buyouts: their impact on jobs and wages
    3. 27. Buyout longevity and post-exit performance
    4. 28. Distress, failure, and recovery in private equity buyouts
  15. Index
3.142.96.146