Riskkapitalbolags styrning av portföljbolag i USA, Europa och Kina - En komparativ fallstudie
This thesis studies private equity firms' implementation of management control systems in their portfolio companies and whether the systems are affected by cross-national differences. A comparative case study examines five different private equity firms to derive if there are any differences between the private equity firms' management control systems in the United States, Europe and China. The empirical observations are categorized according to the framework developed by Merchant (1985) and further developed by Merchant and Van der Stede (2003). Theory on the effect of multinationality on management control systems, also developed by Merchant and Van der Stede (2003), are used to explain possible findings. The applied theory includes the cultural dimensions developed by Hofstede (1984) and Hofstede and Bond (1988). The study reveals differences between the private equity firms' management control systems in the United States, Europe and China. The main differences can be found within the usage of action and personnel controls. In China, action and personnel controls are used to a greater extent than they are in the United States or Europe due to the lack of experience and separation of duties. Between the United States and Europe the differences are small and are mainly a result of differences in the private equity firms' strategies.