Private Equity Diversity and Talent: Do They Matter for Acquisitive Growth?

IF 6.9 1区管理学 Q1 BUSINESS

Entrepreneurship Theory and Practice Pub Date : 2025-10-22 DOI:10.1177/10422587251385536

Ranko Jelic, Xinyu Yu, Dan Zhou

引用次数: 0

Abstract

Building on the strategic entrepreneurship perspective and upper echelon theory, we examine the importance of private equity (PE) functional human capital and socio-demographic diversity for the success of the acquisitive growth strategy. Our focus is on the buyout lead partner team rather than on human capital at the collective PE firm (or fund) level. The results of our panel data survival models suggest that gender and age diversity, as well as the financial background, significantly accelerate both first and subsequent add-on acquisitions. The results are robust to alternative proxies, model specifications, and endogeneity checks. JEL Codes: G24, G34, J10, L26

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私募股权多元化与人才：对并购增长有影响吗？

基于战略创业视角和上层梯队理论，我们考察了私募股权（PE）功能性人力资本和社会人口多样性对收购增长战略成功的重要性。我们的重点是收购牵头合伙人团队，而不是集体私募股权公司（或基金）层面的人力资本。我们的面板数据生存模型的结果表明，性别和年龄的多样性，以及财务背景，显著加快了首次和随后的附加收购。结果对于替代代理、模型规范和内生性检查是稳健的。JEL代码：G24， G34, J10, L26

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来源期刊

Entrepreneurship Theory and Practice BUSINESS-

CiteScore

19.00

自引率

12.40%

发文量

期刊介绍： Entrepreneurship Theory and Practice (ETP) is an interdisciplinary scholarly journal dedicated to conceptual and empirical research that advances, tests, or extends theory relating to entrepreneurship in its broadest sense. Article Topics: Topics covered in ETP include, but are not limited to: New Venture Creation, Development, Growth, and Performance Characteristics, Behaviors, and Types of Entrepreneurs Small Business Management Family-Owned Businesses Corporate, Social, and Sustainable Entrepreneurship National and International Studies of Enterprise Creation Research Methods in Entrepreneurship Venture Financing Content: The journal publishes articles that explore these topics through rigorous theoretical development, empirical analysis, and methodological innovation. ETP serves as a platform for advancing our understanding of entrepreneurship and its implications for individuals, organizations, and society.