Managerial and ownership succession and corporate restructuring: The case of management buy-ins
Robbie, K., & Wright, M. (1995)
Journal of Management Studies, 32(4), 527-549
Case evidence on buy-ins, where both management and ownership change. Managers may be well incentivised, but "problems may arise in respect of information asymmetries, difficulties in matching entrepreneurs to the context and monitoring by venture capitalists". This is the search fund problem stated in 1995.
Sourcedoi:10.1111/j.1467-6486.1995.tb00787.x67 citations (OpenAlex)