Private Equity, Layoffs, and Job Polarization
研究了私募股权收购后哪些员工更可能被裁，发现从事常规或可外包任务的员工以及激进工会成员更易失业，而非常规或不可外包任务的员工反而更安全。
Although private equity firms are often criticized for layoffs, little evidence exists regarding which employees lose their jobs and why. We argue that explanations for the job polarization process can also explain layoffs after buyouts. Buyouts reduce agency problems, which triggers automation, offshoring, and tougher bargaining with labor unions. We show that workers in less productive firms who perform routine or offshorable job tasks are more likely to lose their jobs. The opposite trend holds for workers who perform non-routine or non-offshorable job tasks. Moreover, workers who belong to aggressive labor unions are more likely to lose their jobs.