New Releases by Mike Wright

The International Library of Management is a comprehensive core reference series comprised of the most significant and influential articles by the leading authorities in the management studies field. The collections of essays is both international and interdisciplinary in scope and provides and entry point for investigating the myriad of study within the discipline.

This book deals with risk capital provided for established firms outside the stock market, private equity, which has grown rapidly over the last three decades, yet is largely poorly understood. Although it has often been criticized in the public mind as being short termist and having adverse consequences for employment, in reality this is far from the case. Here, John Gilligan and Mike Wright dispel some of the biggest myths and misconceptions about private equity. The book provides a unique and authoritative source from a leading practitioner and academic for practitioners, policymakers, and researchers that explains in detail what private equity involves and reviews systematic evidence of what the impact of private equity has been. Written in a highly accessible style, the book takes the reader through what private equity means, the different actors involved, and issues concerning sourcing, checking out, valuing, and structuring deals. The various themes from the systematic academic evidence are highlighted in numerous summary vignettes placed alongside the text that discuss the practical aspects. The main part of the work concludes with an up-to-date discussion by the authors, informed commentators on the key issues in the lively debate about private equity. The book further contains summary tables of the academic research carried out over the past three decades across the private equity landscape including: the returns to investors, economic performance, impact on R&D and employees, and the longevity and life-cycle of private equity backed deals.

There has been a substantial rise in the number of entrepreneurship courses and programs at colleges and universities. Despite the rapid rise of undergraduate entrepreneurship, there have been few academic studies of this phenomenon. Little is known about the antecedents and consequences of these activities. Student Start-Ups: The New Landscape of Academic Entrepreneurship is the first book of its kind on student entrepreneurship. It sets out to provide a structured approach to understanding the development of the phenomenon by synthesizing and offering the best available quantitative data and new case studies from a range of countries and universities. In doing so, they present the evolution of different models of student entrepreneurship with insights and implications for practice, policy and research.

"There has been a substantial rise in the number of entrepreneurship courses and programs at colleges and universities. Despite the rapid rise of undergraduate entrepreneurship, there have been few academic studies of this phenomenon. Little is known about the antecedents and consequences of these activities. Student Start-Ups: The New Landscape of Academic Entrepreneurship is the first book of its kind on student entrepreneurship. It sets out to provide a structured approach to understanding the development of the phenomenon by synthesizing and offering the best available quantitative data and new case studies from a range of countries and universities. In doing so, they present the evolution of different models of student entrepreneurship with insights and implications for practice, policy and research"--

Many strategies fail not because they are improperly formulated but because they are poorly implemented. The Oxford Handbook of Strategy Implementation examines the crucial role of implementation in how business and managerial strategies produce returns. In this wide-ranging collection of essays, leading scholars address governance, resources, human capital, and accounting-based control systems, advancing our understanding of strategy implementation and identifying opportunities for future research on this important process.

Increasingly, entrepreneurship research recognizes a wide variety in entrepreneurial behaviour. One such difference is marked between experienced or habitual entrepreneurs and novices. This book, authored by established experts in the field, introduces and explores the habitual entrepreneur phenomenon. Building upon an international body of research, the authors analyse business behaviour to demonstrate how experience relates to the performance of new ventures. In employing a range of methodological techniques, the authors provide insight into how prior business ownership experience produces different outcomes when it comes to the key success factors associated with entrepreneurial ventures. With detailed coverage of finance, networking, opportunity discovery, and learning, the book is a uniquely comprehensive resource. This concise book is a complete research guide which provides an introduction for advanced students and researchers of entrepreneurship worldwide.

What is entrepreneurship? Is it important? What do entrepreneurs actually do? These are a few of the key questions considered in this Very Short Introduction. Paul Westhead and Mike Wright provide a clear guide to all aspects of the process of entrepreneurship, including the diversity of the people involved and the benefits it brings to society.

We present an analysis of the articles published in the Journal of Management Studies since its inception to assess to what extent JMS has: maintained its leading international ranking; maintained its founding mission as a broad based management journal; and remained a broad based management journal compared to other general management journals. In terms of its impact factor and citations despite reaching a low point in 2001, we find that JMS today ranks higher than it has ever done throughout its 50-year history. From our content analysis covering the life-cycle of JMS, we find four areas have been the most frequently represented, although their relative importance varies between decades: Organizational Management/Behaviour, Strategy, Human Resource Management, and General Management, accounting for 67 per cent of articles published over the period. JMS has strengthened its international author distribution through the increase in authors from the EU especially; the period 2000-04 which saw the predominance of UK authors was an anomaly. There are marked differences between type of article and author country of origin. Our comparative analysis of the word networks between the journals JMS, AMJ, ASQ, and HRM shows that over each decade the papers in the first three normally form a single cluster, indicating that the words used in the papers in the different journals are similar, while papers from HRM often form an outlining group. Notably, in the early 2000s papers in JMS form a distinct cluster, with papers from HRM paralleling the anomaly identified in the content analysis. Overall, JMS has regained its distinctiveness as a broad-based international management journal, not favouring any particular theoretical or empirical approach.

The principal goal of this monograph is to provide an overview of relevant aspects and research findings pertaining to the period after the venture capital firm (also known as venture capitalist or VC) has made the decision to invest in a particular portfolio company (or entrepreneur). Drawing principally upon refereed journal papers in entrepreneurship, finance, and management, our review is divided into six principal areas: (1) what venture capital firms do, (2) the impact of VCs on portfolio firms and other stakeholders, (3) the role of syndication, (4) the nature and timing of exit from VC investment, (5) the role of VCs in portfolio companies that undergo an initial public offering (IPO), and (6) the returns from investing in VC. The monograph concludes with a detailed outline of an agenda for further research. We provide a summary of the main papers in this literature in a set of tables in which we identify the authors, publication date, the journal, the main research question, the theoretical perspective, data, and the principal findings.

Research-based spin-offs (RBSOs) have become an important aspect of the technology transfer process. Emanating from what is conventionally a non-commercial environment, RBSOs pose major challenges if they are to realise their potential to meet the objectives of their founders and the parent research organisations (PROs) from which they emerge. An important issue is to understand the heterogeneity of RBSOs. This paper reviews the literature on RBSO typologies to develop a taxonomy of RBSOs. We identify common themes in relation to these typologies in relation to (1) spin-off creation and (2) spin-off development. The dimensions that differentiate between firms are the type of resources, the business model and the institutional link. We identify gaps in current typologies in order to propose avenues for future conceptual and empirical research.

The scope and purpose of this special issue is to draw interconnections between domains of strategy and strategic management research. Specifically, we initially conceptualized this special issue with two goals in mind: (1) to highlight and bridge intersections between strategy theories and bodies of scholarship; and (2) to advance and mainstream ways in which an explicit organizational dimension can be fostered in strategy and strategic management research. The papers selected for the issue capture this set of aspirations in various ways, and, as such, they collectively offer a foundation for extending strategy and strategic management research in exciting new directions. We start our introduction by providing a brief overview of the contributions provided by each paper in the context of three broad strategy themes: strategy and process; resources and organizational growth; and environment and institutional context. We subsequently discuss the potential for integration of research across these themes, and highlight the importance of what we define as bridging and umbrella constructs that are able to connect various strategy and organizational phenomena in coherent and meaningful ways. We elaborate the important distinction between these two constructs and their respective roles within theory development, and use that to drive and articulate directions for further research.

Within a practical business context of the changing, competitive climate, this book details the implications for marketing strategy. New chapters cover topics such as credit cards and customer care, while several relevant case studies have also been added. Combining analysis of principles, concepts and techniques with sound practical advice, 'Marketing Financial Services' is ideal for students on degree and postgraduate courses, including Chartered Institute of Bankers. There is also a tutor resource pack to accompany the case studies in this textbook.

By combining insights from relational network theory and agency theory we identify the boundary conditions to the embeddedness approach to partner selection decisions in interfirm collaborations. Employing a longitudinal dataset comprising the investment syndicates for the population of UK management buyouts between 1993 and 2003, we find that relational embeddedness is less important for selecting partners when agency risks are low, allowing firms to expand their networks. Furthermore, reputational capital may act as a partial substitute for relational embeddedness, again permitting firms to expand their networks. Our findings enhance understanding of the boundary conditions associated with the relational network approach to partner selections and network behaviour.

“Zeroes in on the interesting, irreverent, long-ignored tidbits that shape behavior in all conflicts and important periods of history.”—The Denver Post What made the founding fathers so great (or were they?). And don’t forget the founding mothers. We have intrigue and skullduggery with spies from Nathan Hale to Benedict Arnold, with enlightening stops on the distaff side of espionage for Patience Wright (no relation to our esteemed author), Lydia Darragh, and Ann Bates. “[Mike] Wright uncovers the gamut of the revolutionary era with a highly readable, breezy narrative style, and some of his speculations eloquently illustrate the ironies always present in grand historical movements. . . . This work will inform, amuse, and provide an interesting perspective on the Revolution.”—Booklist

Instant coffee was invented during the Civil War for use by Union troops, who hated it; holding races between lice was a popular pastime for both Johnny Reb and Billy Yank; 13% of the Confederate Army deserted during the conflict. These are three of the hundreds of bits of knowledge that Mike Wright makes available in his informative and entertaining What They Didn't Teach You About the Civil War, which focuses on the lives and ways of ordinary soldiers and of those they left behind.

Packed with personal anecdotes and details you won’t find anywhere else, this is the secret history of World War II. “A fast-moving overview stuffed with interesting factoids and historical tidbits . . . Casual readers will find themselves carried along, and hardened military buffs will learn much that is new.”—Library Journal “It’s almost guaranteed to make you so interested in the subject you’ll want to learn . . . By including hundreds of interesting anecdotes and facts, [Mike] Wright not only piques our interest repeatedly, he also gives areal feel for the war era.”—Manchester Journal Inquirer “An excellent overview . . . [with] interesting chapters on spies, POWs, censorships, and the building of the atomic bomb . . . Wright’s style is accessible.”—The Post and Courier

Broad characteristics, behavior, and performancecontributions relating to experienced serial and portfolio entrepreneurs areanalyzed in comparison to novice entrepreneurs with no prior business ownershipexperience. Data consisted of 354 firms owned by novice (200 firms), serial (66firms), and portfolio (88 firms) entrepreneurs in Scotland. Results indicate no significant difference among the three groups withregard to the mode of acquisition of equity stake, number of equity partners,current age, location of business, main industrial activity of the business, orwhether the business was a family firm. Significant differences are noted inthe characteristics and behavior of the entrepreneurs with regard to theirbusiness ownership experience. Further analyses show that portfolio entrepreneurs are more likely to bemotivated by the generation of wealth and exhibit higher levels of growth intheir own businesses. Additionally, they exhibit more diverse experiences andhave more resources than serial or novice entrepreneurs. Serial entrepreneursare concerned with independence and autonomy and have exited more businessesthan portfolio entrepreneurs. Conversely, novice entrepreneurs look for secure incomes and are hesitant tolose their independence in pursuit of rapid business growth. It is evident thatexperienced entrepreneurs offer more wealth creation prospects and accumulateseveral entrepreneurial resources, both of which are fundamental for thesuccess of a firm. (NEE).

The structure of the book and the organisation of material within chapters are well thought out with the authors skilfully weaving empirical material from diverse sources into an easily readable holistic account of the university spin-off phenomenon. . . Many of the lessons learned and conclusions drawn from this work are applicable to academic entrepreneurs in whichever faculty or subject area they work. David Woollard, International Journal of Entrepreneurial Behaviour and Research This timely book fills a gap in the knowledge market. . . The authors should be applauded for taking the time to write and share their knowledge with us. This book will be welcomed by practising researchers. . . It will also be welcomed by busy lecturers, policymakers, students and chief executive officers. Robert Smith, Entrepreneurship and Innovation This book advances our understanding of university spin-off creation and development in environments outside the high-tech clusters of the US. While there has been substantial university spin-off activity internationally in recent years, a number of major aspects are little understood. The authors argue that the nature of universities is changing as reduced public funding reflects a public debate on their role in society. An important aspect of this international phenomenon is an increased emphasis on the commercialization of university research and on academic entrepreneurship. These new ventures therefore involve the spinning-off of technology and knowledge generated by universities. The authors adopt a multi-level approach in their examination of university spin-offs. European case studies are specifically selected to reflect the diversity of the institutional environment. In particular, units of analysis involving universities, technology transfer offices, spin-off firms, finance providers and individual entrepreneurs and teams are extensively analysed in quantitative and qualitative studies. To conclude, policy implications for the future successful development of spin-offs are identified. This fascinating book will appeal to a wide-ranging audience including academics, policy makers, researchers and practitioners with an interest in academic entrepreneurship and university spin-offs, and, more generally, in business and management and entrepreneurship.

Perspectives relating to agency theory, information asymmetries and game theory were utilized to explore two outcomes associated with the management buy-out (MBO) or management buy-in (MBI) of former private firms: whether information was shared equally between vendors (i.e., family firm owners) and purchasers (i.e., MBO/I management teams) and whether a mutually agreed price was agreed. With reference to the themes of company ownership structure, governance structure and company objectives several hypotheses were derived. Survey evidence was gathered from the managers of 114 former private family-owned firms located across Europe that recently reported an MBO/I. Multiple logistic regression analysis detected that respondents in founded (first generation) family firms and those reporting a high focus on the strategic importance of the market value increment were more likely to report that "information was shared equally between vendors and purchasers." Respondents reporting no suitable successor had been identified, a high focus on the strategic importance of the market value increment, and the involvement of venture capitalists in succession planning were more likely to report that a mutually agreed sale price had been negotiated. Implications for practitioners and researchers are discussed.

This is an excellent book. The conceptual framework and empirical results are presented in a most readable form. The reader is also provided with a comprehensive discussion of the results obtained. The book contains a wealth of information about entrepreneurs and entrepreneurship, and provides numerous suggestions for future research. Economic Outlook and Business Review Despite a number of success stories presented in the media, not all habitual entrepreneurs (entrepreneurs who have owned at least two businesses) are consistently successful. This book is inspired by the apparent dearth of rigorous research to underpin or in some cases challenge the popular perception of habitual entrepreneurs. It seeks to address the gap in the literature by shedding light on the phenomenon of habitual entrepreneurship. Deniz Ucbasaran, Paul Westhead and Mike Wright use a combination of theory and empirical evidence to illustrate why it is so important for researchers, policymakers, entrepreneurs and investors to distinguish between novice (i.e. first time) entrepreneurs and habitual entrepreneurs. Issues tackled include human capital characteristics, information search and opportunity identification behaviours, and the performance of different types of entrepreneurs. The book also highlights the heterogeneity of habitual entrepreneurs by drawing attention to serial and portfolio entrepreneurs. Developing a conceptual framework and an agenda for future research, Habitual Entrepreneurs will prove a significant reference tool for academics, students and researchers with an interest in entrepreneurship and SMEs. Its systematic analysis of the role of prior entrepreneurial experience in the venturing process will also be invaluable to practitioners such as policymakers, entrepreneurs and investors.

This paper reports the findings from a survey of the effects of management buyouts on human resource management (HRM). Buyouts resulted in increased employment, the adoption of new reward systems, and expanded employee involvement. These developments support the resource-based view that buyouts develop internal assets over agency theory predictions that managers will adopt a cost reduction approach. The type of buyout influences the subsequent development of HRM. Buyouts report more commitment-orientated employment policies where employees own shares, and where the buyout pursues a ''buy and build'' corporate strategy and adopts a business strategy of enhancing customer service and developing markets.

Richmond became the capital of the Confederacy when Virginia joined the Southern cause, marking the city as a prime target for the Union army. General McClellan was the first Union leader to lay siege to Richmond, and that was just the beginning. The attractive and genteel city of Richmond would be transformed into a refugee camp, a scene of riots, and a city-sized hospital before the war was over. Making use of diaries, letters, and newspaper accounts from the era, Wright brings readers face to face with the men and women who fought for the city, endured starvation, observed Lee's defeats and Grant's progress, and witnessed the Confederacy's last days.

Wright breathes life into our nation's history while spotlighting little-known events and "rest of the story" details from the decade of the '60s. 24 photos.

A snappy, easy-reading history comprised mainly of the more obscure details relating to the people, places, names, and culture of the western frontier, from the first cowboy rustlers (which Wright notes were actually at the time of the American Revolution) to contemporary evidence that the Sundance Kid lived until 1957. Annotation copyrighted by Book News, Inc., Portland, OR

An in-depth report and guide to the venture capital industry in Europe covering early stage investments, LBOs, MBOs and MBIs.