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Private Equity Firms. Their Role in the Formation of Strategic Alliances. Edition No. 1

  • ID: 5186656
  • Book
  • September 2018
  • 418 Pages
  • John Wiley and Sons Ltd
This work analyzes the role of private equity firms (SCIs) in forming strategic alliances in the French private equity market. The subject is important because the formation of alliances and, more generally, the networking of SMEs, could be an alternative to the lack of medium-sized companies in France. For French SCIs, which are increasingly in a competitive situation, assistance in forming alliances for their holdings may represent a new activity and be a source of competitive advantage. The work is positioned transversally, touching the areas of corporate governance, entrepreneurial finance and strategy.
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Acknowledgments vii

Preface ix

Introduction xi

Chapter 1. Concepts Underlying the Role of Private Equity Firms in Forming Alliances 1

1.1. Private equity 1

1.1.1. Main characteristics 1

1.1.2. The French PE market 4

1.2. The concept of a strategic alliance 10

1.3. Strategic alliance formation in French PEFs 14

1.3.1. French PE: a favorable environment for the formation of alliances 14

1.3.2. First descriptive data 16

Chapter 2. The Role of Private Equity Firms in Alliance Formation from the Perspective of Value Creation 25

2.1. The role of PEFs from the perspective of contractual theories 26

2.1.1. Some theoretical foundations 26

2.1.2. Review of contractual theories 38

2.1.3. Applying the theory to our research question 40

2.1.4. Review of the role of PEFs from the perspective of contractual theories 59

2.2. The role of PEFs in light of knowledge-based theories 64

2.2.1. Some theoretical foundations 65

2.2.2. Applying the theory to our research question 83

2.2.3. Review of the role of PEFs from the perspective of knowledge-based theories 95

2.2.4. Where knowledge-based theories stand compared to contractual theories 97

2.2.5. The complementarity of contractual and knowledge-based theories 101

2.3. Sociological network theories: a supplement to the contractual and knowledge-based argumentation 106

2.3.1. Some theoretical foundations 107

2.3.2. Applying the theory to our research question 120

2.3.3. Review of the additional arguments brought forward by the use of the concept of social capital 130

2.4. The role of PEFs: a summary 133

2.4.1. Intraportfolio alliances 134

2.4.2. Extraportfolio alliances 137

Chapter 3. Empirical Analysis with Explanatory Design of the Role of French Private Equity Firms in the Formation of Alliances 145

3.1. Methodology: a multimethod study 146

3.1.1. The overall concept 146

3.1.2. The joint and complementary use of statistical and economic techniques and case studies 147

3.2. Testing the theoretical framework 148

3.2.1. Econometric analysis 148

3.2.2. Multiple case study 183

3.2.3. Reconciliation of the econometric study and the multiple case study and discussion of the results 335

Conclusion 357

Bibliography 367

Index 385

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Kirsten Burkhardt
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