TY - JOUR T1 - Performance Benefits of Tight Control JF - The Journal of Private Equity SP - 41 LP - 54 DO - 10.3905/jpe.2015.18.3.041 VL - 18 IS - 3 AU - Andrej Gill AU - Nikolai Visnjic Y1 - 2015/05/31 UR - https://pm-research.com/content/18/3/41.abstract N2 - This study investigates the transition from being a listed company with a dispersed ownership structure to being a privately held company with a concentrated ownership structure. We consider a sample of private-equity-backed portfolio companies to evaluate the consequences of corporate governance changes on operational performance. Our analysis shows significant positive abnormal growth in several performance ratios for the private period of our sample companies relative to comparable public companies. These performance differences come from the increase in ownership concentration following a leveraged buyout transaction.TOPICS: Private equity, equity portfolio management, performance measurement, statistical methods ER -