The Influence of International Human Capital and International Network Relationships on Private Equity Firms’ Cross-Border Investment Behaviour

45 Pages Posted: 2 Jul 2009

See all articles by Sofie De Prijcker

Sofie De Prijcker

Ghent University

Sophie Manigart

Vlerick Business School; Ghent University

Mike Wright

Nottingham University Business School

Wouter De Maeseneire

Vlerick Business School; Erasmus University Rotterdam (EUR) - Erasmus School of Economics (ESE)

Date Written: June 30, 2009

Abstract

This paper studies the international investment behavior of private equity (PE) firms. Perspectives from international service management are integrated with human capital and network theory to test the value of international human capital and international network relationships. Using a sample of 110 private equity firms from five European countries, we demonstrate the positive influence of international human capital and show that the intensity of the foreign network decreases the likelihood to be international. Our results also stress the larger influence of international human capital and network relationships on the likelihood of cross-border investing than on the number of international investments.

Keywords: international private equity, internationalization, networks, human capital

JEL Classification: F21, G23, G24

Suggested Citation

De Prijcker, Sofie and Manigart, Sophie and Wright, Mike and De Maeseneire, Wouter, The Influence of International Human Capital and International Network Relationships on Private Equity Firms’ Cross-Border Investment Behaviour (June 30, 2009). Available at SSRN: https://ssrn.com/abstract=1427707 or http://dx.doi.org/10.2139/ssrn.1427707

Sofie De Prijcker (Contact Author)

Ghent University ( email )

Kuiperskaai 55E
Ghent, 9000
Belgium

Sophie Manigart

Vlerick Business School ( email )

Reep 1
Ghent, BE-9000
Belgium

Ghent University ( email )

Sint-Pietersplein 7
Gent, 9000
Belgium

Mike Wright

Nottingham University Business School ( email )

Jubilee Campus
Wollaton Road
Nottingham, NG8 1BB
United Kingdom
+44 115 951 5257 (Phone)
+44 115 951 5204 (Fax)

Wouter De Maeseneire

Vlerick Business School ( email )

Reep 1
Ghent
BE-9000 Ghent
Belgium

Erasmus University Rotterdam (EUR) - Erasmus School of Economics (ESE) ( email )

P.O. Box 1738
3000 DR Rotterdam, NL 3062 PA
Netherlands

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