The main focus of this paper is to explore the potential for improving econometric specification in modeling hedge fund returns. Specifically, we examine the effects of (1) correcting for selectivity bias due to sample attrition; (2) allowing for nonlinearity; and (3) controlling for...

This article examines the sensitivity of employment to sales contractions in a negative growth scenario for high‐tech entrepreneurial ventures. Using the lens of transaction cost economics, we move from the centrality of human capital for these firms to theoretically discuss and empirically...

We assess the recent economic and financial performance of U.K. private equity (PE) backed buyouts. Our empirical evidence, which is based on thousands of transactions, reveals that PE-backed buyouts achieved superior economic and financial performance in the period before and during the recent...

It is well recognized that the nature of entrepreneurial activity varies by context and historical epoch. But are there systematic underlying factors that cause such significant differences in the entrepreneurial opportunity set? This paper presents a conceptualization of entrepreneurship based...

Private Equity restructuring of companies using debt finance has been criticised for increasing financial distress and bankruptcy in the corporate sector and this was especially so in the aftermath of the financial crisis. We build a unique data set comprising the population of over eight...

The paper analyses the role of private equity in restructuring the UK corporate economy. It develops a theoretical synthesis to show that the evolution of the PE industry and firms in which it invested were governed by the relations of corporate governance between investor and investee...

The lowest volumes of potential additional demand for equity funding seem to be in Wales (£0.16 - £0.3bn), the North East (£0.1bn - £0.17bn) and Northern Ireland (£0.06bn - £0.16bn).In relative terms, the highest relative demand for additional equity funding in relation to the actual stock...