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D2FT50

The operational consequences of private equity buyouts: Evidence from the restaurant industry

Bernstein, S., & Sheen, A. (2016)

Review of Financial Studies, 29(9), 2387-2418

Health inspection records for US restaurant chain buyouts. Store-level practices improve after buyout, more in directly owned stores than in franchised "twin" stores, and more when PE partners have industry experience. Operational improvement comes with industry expertise.

Sourcedoi:10.1093/rfs/hhw037216 citations (OpenAlex)

Full citation

Bernstein, S., & Sheen, A. (2016). The operational consequences of private equity buyouts: Evidence from the restaurant industry. Review of Financial Studies, 29(9), 2387-2418.

https://doi.org/10.1093/rfs/hhw037

This page describes a work published elsewhere. The summary, where present, states what the authors claim; it is not the school's position. Read the source before quoting a figure.