Book Review: Private Equity at Work: When Wall Street Manages Main Street

FinalPrivateEquity-ApplebaumBattGrab a mug of your favorite hot beverage and put those slippered feet up for a well-deserved weekend read!

Eileen Appelbaum, Rosemary Batt : Private Equity at Work: When Wall Street Manages Main Street. New York: Russell Sage Foundation, 2014. 396 pp. $35.00, paper.

Michael Jensen of University of Michigan Ann Arbor recently reviewed “Private Equity at Work: When Wall Street Manages Main Street” by Eileen Appelbaum, Rosemary Batt in Administrative Science Quarterly.

Private Equity at Work is a wonderful introduction to private equity. Using a mixture of simplifying models, aggregate ASQ_v59n4_Dec2014_cover.indddescriptive data, published statistical analyses, and detailed case studies, Applebaum and Batt provide a comprehensive examination of private equity and its role in the U.S. economy and society. The authors propose that “the private equity business model represents a test of the notion that pursuing shareholder value aggressively is a good thing by putting the shareholders even more in charge” (p. 4). Although they question the value of private equity for anybody but the general partners running private equity funds, their critical approach to private equity is nevertheless a remarkably fair and balanced evaluation of private equity’s advantages and disadvantages.

Click here to read the rest of the review from Administrative Science Quarterly. Want to know when all the latest reviews and research articles are available from Administrative Science Quarterly? Click here to sign up for e-alerts!

This entry was posted in Book Review, Economics, Finance, Financial Crisis, Social Impact and tagged , , , by Cynthia Nalevanko, Editor, Management INK. Bookmark the permalink.

About Cynthia Nalevanko, Editor, Management INK

Founded in 1965, SAGE is the world’s leading independent academic and professional publisher. Known for our commitment to quality and innovation, SAGE has helped inform and educate a global community of scholars, practitioners, researchers, and students across a broad range of subject areas. With over 900 employees globally from principal offices in Los Angeles, London, New Delhi, Singapore, and Washington DC, our publishing programme includes more than 560 journals and over 800 books, reference works and databases a year in business, humanities, social sciences, science, technology and medicine. Believing passionately that engaged scholarship lies at the heart of any healthy society and that education is intrinsically valuable, SAGE aims to be the world’s leading independent academic and professional publisher. This means playing a creative role in society by disseminating teaching and research on a global scale, the cornerstones of which are good, long-term relationships, a focus on our markets, and an ability to combine quality and innovation. Leading authors, editors and societies should feel that SAGE is their natural home: we believe in meeting the range of their needs, and in publishing the best of their work. We are a growing company, and our financial success comes from thinking creatively about our markets and actively responding to the needs of our customers.

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