Management and employee buy-outs have played a significant role in the privatization of state-owned enterprises. Key research and policy issues are raised concerning whether insider ownership promotes or impedes restructuring and adaptation. This paper reviews and synthesizes studies of the...

The proliferation of new sources of entrepreneurial finance potentially makes it easier for ventures to raise capital and grow. To date, entrepreneurial finance literature has developed a rich tradition of research on venture capital and angel finance. However, the emergence of “new” sources...

Using a data set for 162 largest Hungarian firms during the period of 1994-1999 this paper explores the determinants of equity shares held by both foreign investors and by Hungarian corporations. We find evidence of a post-privatisation evolution towards more homogeneous equity structures, where...

There has been a substantial debate about the benefits rationalisation might have conferred on British manufacturing during the interwar years. One industry which has featured prominently is the Lancashire cotton-textile industry. This article assesses the validity of John Maynard Keynes' claim...

We integrate the institutional perspective with research on the governance role of private equity firms in an investigation of Founder-CEO successions in Initial Public Offerings (IPOs) in emerging markets. Using a unique, hand-collected and comprehensive sample of 191 firms having undertaken...

This article reviews the existing literature on SWFs and the firm, focusing particular attention on the implications of the rise of SWFs strategic agility and HRM. This paper outlines three main channels through which sovereign wealth fund (SWF) investment has implications for employees. First,...

We introduce the topic of this special issue on the “Role of Financial and Legal Institutions in International Governance”, with a particular emphasis on a notion of “international mobility of corporate governance”. Our discussion places the special issue at the intersection of law,...

Combining an agency perspective, a resource-based view and upper echelon research, this paper examines inter-links between executive characteristics, board structure and share ownership, and short-term performance of firms in a sample of initial public offerings (IPOs) in the UK. It argues that...