@article {Meles21, author = {Antonio Meles and Claudio Porzio and Vincenzo Verdoliva}, title = {Mala Tempora Currunt: How Do PE-Backed Firms React to Financial Crises? }, volume = {17}, number = {3}, pages = {21--30}, year = {2014}, doi = {10.3905/jpe.2014.17.3.021}, publisher = {Institutional Investor Journals Umbrella}, abstract = {How has PE backing influenced the operating performance of firms (primarily in terms of ROA and ROE) during the recent financial crisis (2006{\textendash}2010)? In this study, the authors use a dataset of 939 European PE-backed firms and a control sample of 2,516 European non-PE-backed firms. They find that PE-backed firms are more profitable than non-PE-backed firms. Even though the recent financial crisis had a negative effect on the operating performance of both PE- and non-PE-backed firms, the authors report strong evidence that the former have a greater ability to withstand turbulent economic environments.TOPICS: Private equity, financial crises and financial market history, developed, statistical methods}, issn = {1096-5572}, URL = {https://jpe.pm-research.com/content/17/3/21}, eprint = {https://jpe.pm-research.com/content/17/3/21.full.pdf}, journal = {The Journal of Private Equity (Retired)} }