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Private equity companies have long been at the guts of general population debates on the impact of the financial sector on Main Block companies. Are these companies financial innovators that save faltering businesses or financial predators that bankrupt otherwise healthy companies and demolish jobs? The first thorough study of this topic, Private Equity at Work provides a precise yet accessible guide to the controversial business model. Economist Eileen Appelbaum and Professor Rosemary Batt carefully measure the research including original case studies and interviews, legal documents, bankruptcy proceedings, media coverage, and existing educational scholarship to show the effects of private equity on American businesses and workers. They report that while private equity firms experienced positive effects on the businesses and growth of small and mid-sized companies and in turning around faltering companies, the interventions of private equity more often than not lead to significant negative repercussions for many businesses and workers. Prior research on private equity has targeted almost solely on the financial performance of private equity money and the comes back to their shareholders. Private Equity at Work provides a new roadmap to the largely concealed internal operations of these firms, demonstrating how their business strategies disproportionately gain the associates in private equity firms at the trouble of other stakeholders and taxpayers. Within the 1980s, leveraged buyouts by private equity firms found high comes back and were broadly considered the answer to corporate wastefulness and mismanagement. And since 2000, almost 11,500 companies representing almost 8 million employees have been purchased by private equity firms.
