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DC Field | Value | Language |
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dc.contributor.author | Adams, M | - |
dc.contributor.author | Kastrinaki, Z | - |
dc.date.accessioned | 2022-03-14T16:03:49Z | - |
dc.date.available | 2022-03-14T16:03:49Z | - |
dc.date.issued | 2022-02-09 | - |
dc.identifier.citation | Adams, M. and Kastrinaki, Z. (2022) 'Why Are Private Equity Transactions Insured? A Neo-Institutional Theory Perspective', Academy of Management Perspectives, 36 (4), pp. 968 - 983 (16). doi: 10.5465/amp.2021.0120. | en_US |
dc.identifier.issn | 1558-9080 | - |
dc.identifier.uri | https://bura.brunel.ac.uk/handle/2438/24251 | - |
dc.description | Copyright © 2022 Academy of Management. The final publication is available at Academy of Management Perspectives via https://doi.org/10.5465/amp.2021.0120 | - |
dc.description.abstract | We employ, and build on, neo-institutional theory and strategic entrepreneurship thinking to explain the growing use of representations and warranty (“reps”) insurance (RWI), an innovative product that mitigates the risks (costs) of legal disputes when private equity is involved on both the buy side and sell side of strategic transactions. Our analysis suggests that transaction risks and uncertainties motivate managers of private equity-sponsored leveraged buyouts and liability insurers to cooperate and change the “rules of the game” using creative customized contracts. The transformation of embedded institutional logics enables contracting parties not only to realize gains from collaboration but also from concessions that radically alter custom and practice. Our analysis suggests that the use of RWI in private equity transactions is both a determinant and consequence of institutional change in financial markets. We conclude that the private equity–RWI relation is a classic case of experimental institutionalism in action. | - |
dc.format.extent | 968 - 983 | - |
dc.format.medium | Print-Electronic | - |
dc.language | English | - |
dc.language.iso | en_US | en_US |
dc.publisher | Academy of Management | en_US |
dc.rights | Copyright © Academy of Management 2022. All rights reserved. The final publication is available at Academy of Management Perspectives via https://doi.org/10.5465/amp.2021.0120. After the embargo period, posting of the VoR is acceptable on an author's website (individual or associated with an institution), institutional repository, or free online through search engines. Contents may not be copied, emailed, posted to a listserv, or otherwise transmitted without the copyright holder’s express written permission. Users may print, download, or email articles for individual use only. | - |
dc.rights.uri | https://creativecommons.org/licenses/by-nc-nd/4.0/ | - |
dc.title | Why Are Private Equity Transactions Insured? A Neo-Institutional Theory Perspective | en_US |
dc.type | Article | en_US |
dc.identifier.doi | https://doi.org/10.5465/amp.2021.0120 | - |
dc.relation.isPartOf | Academy of Management Perspectives | - |
pubs.issue | 4 | - |
pubs.publication-status | Published | - |
pubs.volume | 36 | - |
dc.identifier.eissn | 1943-4529 | - |
dc.rights.holder | Academy of Management. | - |
Appears in Collections: | Brunel Business School Embargoed Research Papers |
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FullText.pdf | Embargoed until 15 Mar 2023 | 486.85 kB | Adobe PDF | View/Open |
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