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Private equity impact on industry development in Europe
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Orientador(es)
Resumo(s)
Following the 2007 financial crisis, the Private Equity (PE) industry is again in legislators'
crosshairs. The disproportionately high deal volumes in a suffering market environment due to
the Covid pandemic have raised fears that PE's engagement could negatively harm industries
already under pressure. This thesis addresses these concerns by examining whether PE
investments economically impact European industries. Contrary to the apprehensions
expressed, the results show that sectors in which PE funds are active achieve higher annual
growth rates in terms of output and employment than the non-PE-backed control group.
Robustness tests suggest no reverse causality.
Descrição
Palavras-chave
Private equity Leveraged buyout Industry development Production Employment Strategy investments Cross-country investigation Fixed effects regression Business cycles analysis