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While Merger & Acquisition (M&A) activity has reached unprecedented levels over recent years, M&A failure rates remain high. Yet, there is growing evidence that private equity funds show high success rates. As little is known about the differences between different types of buyers, and only scant information exists on private equity funds’ operations, we inductively explore the reasons for their outperformance. In this qualitative study, we identify three characteristics (i.e., organizational set-up, private equity investors’ professional identities, and an integrative work approach), which we brought together into a theoretical framework that explains how private equity professionals can enable better M&A performance. Finally, our findings underline the effectiveness of specific incentivization approaches applied in private equity funds.

This paper aims to review, systematize and map the extant literature on private equity (PE) and study the underlying research agenda for investment selection and value creation in portfolio firms of PE investors. The PE investment process entails the preinvestment stage, where PE investors screen the target firms, and the postinvestment stage, where PE investors monitor the funded firms. With the motive to understand both stages, this review consolidates the findings of existing literature.

This research adopts a systematic literature review approach to study the underlying themes in PE investment literature. To adequately profile the key research areas, the authors have adopted citation classics in addition to keyword search and drawn the most significant papers in this field of research based on citation metrics.

The review presents a heterogeneous set of themes by encapsulating the relevant PE literature and identifies significant and emergent themes within the broad research area of investment and performance. The foundational themes found are selection determinants for PE investments, value creation in PE investments and selection vs value-adding effect of PE investors. While the emergent themes are the relative performance of PE investments; sources of value creation; skill, luck and social capital in PE; and resource dependency vis-à-vis PE. Each theme or subtheme chalks out the underlying research agendas for future researchers.

To build an understanding of the selection determinants and value creation, this review addresses the need to synthesize and align the PE literature concerning pre and post investment stages. PE is a fertile research area that is systematically captured in this review by identifying themes, subthemes and avenues for future research.

The world is changing rapidly and unexpectedly. COVID-19 is a warning sign that future generations need to be prepared for the volatile, uncertain, complex and ambiguous (VUCA) world where more complex situations remain to be seen. Students from all walks of life should have equal access to quality education that can equip them with skills to cope with new challenges. Although the inclusion of students with special needs in Thailand has allowed them to have academic and social interaction with non-special needs students in higher education institutions, little is known regarding how COVID-19 has impacted them and how they have navigated online learning. What are the learning challenges that college students with special needs face? Digital learning in response to the COVID-19 pandemic can be an even more significant challenge for students with special needs. However, some of them may feel online learning is a lifeline and a nice learning accommodation. Is it possible that they may want to continue to stay in remote accommodations, even if face-to-face classes resume? Would any of the practices return to normal and be fruitful for the VUCA world? Using data collected through in-depth interviews, this chapter identifies learning challenges confronting special-needs college students through the lens of a right-based approach and how inclusive digital learning can turn these challenges into opportunities and help these students flourish in a VUCA future. This chapter begins with a brief historical background of inclusive education policy in Thailand's higher education institutions. The chapter then, using a case study of KU, Thailand, identifies and discusses existing challenges and problems currently facing special needs learners and analyses how universities can help them to deal with and overcome such challenges. Finally, the chapter discusses the opportunities and challenges of how inclusive digital learning can play a pivotal role in elevating the learning experience and outcomes of Thai college students with special needs in the VUCA World.