Private equity and entrepreneurial management in management buy-outs

Critics claim that short-term profit orientation and high deal price strategies of private equity (PE) firms can negatively affect the ability of management buyouts to initiate and sustain entrepreneurial management. This study investigates this claim by comparing effects of majority PE backed and other buy-outs at different levels of financial leverage on post buy-out increases in entrepreneurial management. We propose that PE can be used as an organizational refocusing device that simultaneously increases entrepreneurial and administrative management. We find that majority PE-backed buy-outs significantly increase entrepreneurial management practices. Furthermore, the increased financial leverage positively affects administrative management in management buy-outs. However, the effect of high financial leverage is larger for majority PE-backed buy-outs. These results support the notion that PE firms help buy-out companies develop ambidextrous organizational change: i.e. simultaneously develop entrepreneurial and administrative management practices. The findings have important implications for practitioners and policy makers.

Fair charging strategies for EVs connected to a low-voltage distribution network

The development of smart grid technologies and appropriate charging strategies are key to accommodating large numbers of Electric Vehicles (EV) charging on the grid. In this paper a general framework is presented for formulating the EV charging optimization problem and three different charging strategies are investigated and compared from the perspective of charging fairness while taking into account power system constraints. Two strategies are based on distributed algorithms, namely, Additive Increase and Multiplicative Decrease (AIMD), and Distributed Price-Feedback (DPF), while the third is an ideal centralized solution used to benchmark performance. The algorithms are evaluated using a simulation of a typical residential low voltage distribution network with 50% EV penetration. © 2013 IEEE.

What price harmony? Teachers' methods of delivering an ethos of tolerance and respect for diversity in an integrated school in Northern Ireland

The aim of the paper is to explore teachers’ methods of delivering an ethos of tolerance, respect
and mutual understanding in one integrated secondary school in Northern Ireland. Drawing on
interviews with teachers in the school, it is argued that most teachers make ‘critical choices’
which both reflect and reinforce a ‘culture of avoidance’, whereby politically or religiously contentious
issues are avoided rather than explored. Although teachers are well-intentioned in making
these choices, it is shown that they have the potential to create the conditions that maintain or even
harden psychological boundaries between Catholics and Protestants rather than dilute them.