Private Equity, HRM, and Employment
基于多国实证证据，分析私募股权对就业、工资、人力资源管理和劳资关系的影响，区分不同收购类型，指出多数杠杆收购并非零和博弈，且监管转向管理资本主义未必有利于工人。
We analyze the employment, wages, human resource management, and industrial relations impact of private equity, drawing on empirical evidence from various countries and institutional contexts. We identify different types of private equity-backed buyouts and highlight the impact of creating value through long- and short-term ownership and strategies emphasizing increased efficiency or growth. We show that the effects may vary between buyout types and that it is inappropriate to regard most private equity leveraged buyouts as a zero-sum game with value transferred to shareholders at workers' expense. We conclude that regulating private equity in favor of the organizational model of managerial capitalism is unlikely to necessarily further workers' interests.