The paper analyses the impact of private equity (PE) backed leveraged buyouts (LBOs) on innovation output (patenting). Using a sample of 407 UK deals we find that LBOs have a positive causal effect on patent stock and quality-adjusted patent stock. Our results imply a 6% increase in...

The empirical relationship between the remuneration of: the highest paid director (HPD), mean Board remuneration (Director), and the Chairperson of the Board (Chair) and firm- level performance is examined on a panel of mutual building societies over the 1991 to 1996 period. Two measures of...

This paper provides a novel analysis of the South Korean financial crisis drawing on the findings of a unique survey of IMF/World Bank officials and South Korean economists. The survey reveals that over-optimism and inadequate recognition of financial risks inadvertently led to excessive risk...

This paper reports an analysis of the determinants of the level and changes in Polish industrial concentration in the early post-transition era. The empirical evidence is based on a panel of 144 Polish manufacturing industries over the period 1989-1993. The results suggest that both state and...