The Impact of Private Equity on Management Practices in European Buyouts: Short-termism and Anglo American Effects

Author(s):

Nicolas Bacon

 et al.

Private equity firms are accused of increasing the short-term performance of buyouts by reducing investments in human capital. To explore this issue, this paper presents findings from the first representative pan-European survey of managers' perceptions of the impact of private equity on management practices in buyouts. Managers report that private equity investment results in an overall increase in high performance work practices (HPWPs), and the increase is greater where private equity firms anticipate a late exit. Anglo-American private equity buyouts are just as likely to introduce new HPWPs as non-Anglo-American private equity backed buyouts, and also extend financial incentives to cover a greater proportion of employees.

Updated: 04/01/2015
Comments: 5
Views: 4,333

Causes and Consequence of Types of Anti-Trade Unionism: The Example of South Korea

Author(s):

Chris Rowley

 et al.

This article details the history of trade unions in Korea from their incipient appearances in the 19th century, their underground development in opposition to Japanese colonisation in the early part of the 20th century, their activities post-Korean war, their current status and the development of anti-unionism over time.

This research follows on from our earlier preliminary piece ('Waxing and waning of waves of anti-unionism in South Korea') on Cass Knowledge

Updated: 04/01/2015
Comments: 10
Views: 11,885

How can Public Services be improved from a HR perspective? When Meaning matters most.

Author(s):

Chris Rowley

 et al.


Every organisation succeeds by delivering value to its key stakeholders. For public agencies, value occurs when citizens receive meaningful services, when policy makers wisely allocate scarce resources to societal demands, when communities have sustainability, and when society norms help individuals prosper. For any organisation to deliver value to stakeholders, it must align internal practices to external demands. We know, for example, that employee attitude inside a company is strongly correlated with customer, investor and community attitudes outside a company.

Human Resources (HR) can help public agencies deliver this value by creating meaning. When we find meaning in the organisations where we work, that personal meaning transfers to value to those we serve. In the public sector, meaning comes when public servants use their strengths to strengthen those they serve.

Updated: 10/02/2017
Comments: 11
Views: 9,298

Do Corporate Cultures Change over Time? Evidence from South Korea.

Author(s):

Chris Rowley

 et al.

An investigation into corporate culture change at the South Korean multinational conglomerates, or 'chaebols' as they are often referred to. Our findings are based on a two-point survey in 1995 and then in 2006. There arose a lot of changes in values and attitudes of employees over these years. Traditional collectivism and the positive attitude which characterised the dynamism of the businesses had declined. Despite these changes however, individual companies maintained their identities according to their chaebol group. Also, cultural differences have not been converging but rather diverging. Based on these findings we can hypothesise that business society has become more diverse. While maintaining core elements of traditional collectivism, society has to cope with widening diversity at individual and organisational levels. In this diversifying society the management of organisational culture is going to play a more important role to attract the right people and maintain organisational identity. From this we can posit that a 'diversity paradigm' could be emerging in business.

Updated: 10/02/2017
Comments: 8
Views: 8,470

Can Leadership be sustainable?

Author(s):

Chris Rowley

 et al.

One of the most commonly discussed management and business topics today is that of 'leadership'. Unfortunately, many of those who receive training to better understand the concept will never implement what they have learnt. This research identifies the reasons for this failing, and offers guidance to help business leaders provide more effective and sustainable leadership.

Updated: 15/10/2012
Comments:
Views: 3,908

Beyond Cronyism: In pursuit of deep trust in interpersonal relationships in China

Author(s):

Chris Rowley

 et al.

The rapid emergence of the Chinese consumer class is having profound effects on global trade. Many businesses in the West, faced with a downturn post the global financial crisis, have shifted considerable attention to China's growing middle and high net worth income upper class. The challenge for a Westerner doing business across such borders is to grapple with something often quite unfamiliar: coping and working through the vagaries of a relationships-oriented society.

This paper provides detailed discussion and guidance regarding relationship development in China, including cronyism and a typology of different styles of Chinese business relationships.

Updated: 03/10/2012
Comments:
Views: 3,668

Is good leadership the same all over the world?

Author(s):

Chris Rowley

 et al.

Media interest in leadership continues apace and unabated. Central to this interest is the simple, but not easy, question, what drives effective leadership?

Based on theory, research and practice, it is believed that being an effective leader is a mix of three determining factors: country context, organisational culture and personal competence. Understanding of each of these three influences helps leaders know how to be more effective. Professor Chris Rowley explains more.

Updated: 14/01/2013
Comments:
Views: 5,950

Knowledge acquisition in investment banking

Author(s):

Chris Rowley

 et al.

This paper examines knowledge management practices within the investment banking sector, using two international banking institutions as examples, focusing on the work of key professionals - securities analysts and equity traders.

It finds a knowledge gap which is partly historical, as the professional licencing requirements of securities analysts has not, to date, included specific skill development in the qualitative forms of data analysis required for systematic human capital analysis.

Updated: 06/02/2013
Comments:
Views: 6,585

Retirement savings is an industrial issue

Author(s):

Chris Rowley

 et al.

While many pension provisions in the private sector have been eroded over the years, the 2008 financial crisis ratcheted up changes.

With this in mind, Dr Carol Royal, Visiting Fellow at Cass Business School, and Professor Chris Rowley suggest that superannuation is an industrial relations issue, and it should not be separated from wage negotiations.

Updated: 14/01/2013
Comments:
Views: 5,046