dr. J. (Hans) Bruining

Hans Bruining
Rotterdam School of Management (RSM)
Erasmus University Rotterdam
Former Member ERIM
Field: Strategy & Entrepreneurship
Affiliated since 2005

**Hans Bruining is an associate professor of strategic management at Rotterdam School of Management, Erasmus University (RSM).**

 

 

 

Professor Bruining's research focuses on management buy-outs and the role of private equity in the enhancement of the strategic orientation of buyout firms.

 

 

 

He is the author of the first Dutch study on the performance of Management Buy-Outs, and the co-author of two books: The Handbook of Management Buy-Out: Theory and Practice (Kluwer Bedrijfswetenschappen ISBN 90 267 1602 8) and Private Equity and Management Buy-outs (Edward Elgar Publishing ISBN 978 1 84720 725 8).

 

 

 

Among the academic journals in which he has published articles are Small Business Economics, Human Relations, Management Accounting Research, Venture Capital, the International Journal of Human Resource Management and the International Small Business Journal.

 

 

 

He is an affiliate member of the Centre for Management Buy-out Research at the Nottingham University Business School in the UK.

 

 

 

Professor Bruining obtained his MSc in Business Economics from the Vrije Universiteit in Amsterdam and his PhD from the Erasmus School of Economics, Erasmus University in 1992.

Publications

Abstract (2)

  • Professional (2)

    • Bruining, H., Verheul, I., & Turturea, R. (2012). Does it pay to be cheap? How financial bootstrapping affects the performance of new ventures.. 14-14. Abstract from Babson College Entrepreneurship Research Conference, Boston (US).

    • Bruining, H., & Mulder, A. (2009). Effort of Private Equity in Buyouts. 1-1. Abstract from Babson College Entrepreneurship Research Conference, Boston *US).

Article (46)

  • Academic (31)

    • Le Nadant, A.-L., Perdreau, F., & Bruining, H. (2018). Industry specialization of private equity firms: a source of buy-out performance heterogeneity. Venture Capital, 20(3), 237-259. https://doi.org/10.1080/13691066.2017.1422424

    • Bruining, H., Verwaal, E., & Wright, M. (2011). Private Equity and Entrepreneurial management in Management Buy-Outs. Small Business Economics, 40(3), 591-605. https://doi.org/10.1007/s11187-011-9386-8

    • Verwaal, E., Bruining, H., Wright, DM., Manigart, S., & Lockett, A. (2010). Resources Access Needs and Capabilities as Mediators of the Relationship between VC Firm Size and Syndication. Small Business Economics, 34(3), 277-291. https://doi.org/10.1007/s11187-008-9126-x

    • Scholes, L., Wright, DM., Bruining, H., & Westhead, P. (2010). Strategic changes in family firms post-management buyout: ownership and governance issues. International Small Business Journal, 28(5), 505-521. https://doi.org/10.1177/0266242610370390

    • Scholes, L., Wright, DM., Bruining, H., & Kloeckner, O. (2009). Family firm buyouts, private equity, and strategic change. Journal of Private Equity, 12(2), 7-18. https://doi.org/10.3905/JPE.2009.12.2.007

    • Bacon, N., Wright, M., Demina, N., Bruining, H., & Boselie, JPEF. (2008). The Effects of Private Equity and Buy-outs on HRM in the Uk and The Netherlands. Human Relations, 61(10), 1399-1433. https://doi.org/10.1177/0018726708095709

    • Scholes, L., Wright, M., Westhead, P., Burrows, A., & Bruining, H. (2007). Information Sharing, Price Negotiation and Management Buy-Outs of private Family-owned Firms. Small Business Economics, 29(3), 329-349. https://doi.org/10.1007/s11187-006-9024-z

    • Manigart, S., Collewaert, V., Wright, DM., Bruining, H., Pruthi, S., Lockett, A., Hommel, U., & Landstrom, H. (2007). Human capital and the internationalisation of venture capital firms. International Entrepreneurship and Management Journal, 3(1), 109-125. https://doi.org/10.1007/s11365-006-0021-0

    • Manigart, S., Wright, M., Meuleman, M., Landstrom, H., & Bruining, H. (2006). Venture Capitalists' Decision To Syndicate. Entrepreneurship Theory and Practice, 30(2), 131-155. https://doi.org/10.1111/j.1540-6520.2006.00115.x

    • Bruining, H., Boselie, JPEF., Wright, M., & Bacon, N. (2005). The Impact of Business ownership Change on Employee Relations: Buy-Outs in the UK and The Netherlands. The International Journal of Human Resource Management, 16(3), 345-365. https://doi.org/10.1080/0958519042000339543

    • Bruining, H., Bonnet, MPB., & Wright, DM. (2004). Management control systems and strategy change in buyouts. Management Accounting Research, 15(2), 155-177.

    • Bruining, H., Bonnet, MPB., & Herst, ACC. (2003). Financiële leverage en bedrijfsbeleid: ervaringen na een management buy-out. MAB, 77(10), 461-469.

    • Bonnet, MPB., & Bruining, H. (2002). Veranderingen in strategie en management control na Management Buy-out. MAB, 76(5), 218-226.

    • Bruining, H., & Wright, DM. (2002). Entrepreneurial orientation in management buy-outs and the contribution of venture capital. Venture Capital, 4(2), 147-168.

    • Bruining, H., & Bonnet, M. (2002). Veranderingen in Strategie en Management Control na Management Buy-Out. MAB, 76(5), 218-225.

    • Bruining, H., Henderiks, RED., & van Meenen, E. (2001). Beheersing van financiële risico's bij management buy-outs banken. MAB, 75(5), 229-240.

    • Bruining, H., & Burrows, AM. (2000). A continuing positive outlook. Acquisitions Monthly, October, 92-94.

    • Bruining, H., & Burrows, AM. (2000). Growth in larger deals. Acquisitions Monthly, April, 48-51.

    • Bruining, H. (1999). Lang niet alle aandeelhouders verdienen meer macht. Financieele Dagblad.

    • Bruining, H., & Robbie, K. (1999). Kappa crowns flying Dutch market - provisional estimates the the Dutch buyout market witnessed a record year in 1998. Acquisitions Monthly, Supplement(March 1999), 66-67.

    • Bruining, H., & Burrows, AM. (1999). Lower countries flying high - the Netherlands continues to attract venture capital from overseas and the signs are that 1999 will demonstrate another healthy pattern of growth in the Dutch buyout market. Acquisitions Monthly, Supplement(October), 90-91.

    • Bruining, H., & Braam, LGM. (1997). Financiële leverage en ondernemingsbeleid na management buy-out (1). MAB, 71(3), 105-116.

    • Bruining, H., & Braam, LGM. (1997). Financiële leverage en ondernemingsbeleid na management buy-out (2). MAB, 71(4), 189-197.

    • Bruining, H., & Braam, LGM. (1997). Financiele leverage en ondernemingsbeleid na Management Buy-Out: een literatuuroverzicht. MAB, 71(3), 105-116.

    • Bruining, H., & Braam, L. (1997). Financiele leverage en ondernemingsbeleid na Management Buy-Out: een empirische verkenning. MAB, 71(4), 189-197.

    • Bruining, H., Comble, K., & Wright, M. (1994). Benelux: no more than modest activity. Acquisitions Monthly, October, 107-109.

    • Veen, T., & Bruining, H. (1994). Desinvesteringen via management buy-outs: een verkenning van belangen. MAB, december, 697-707.

    • Bruining, H. (1994). Bevrijding na grensoverschrijding. Manajournal (Rotterdam), 8(6), 14-18.

    • Bruining, H., & van Veen, AL. (1994). Desinvesteringen bij Management Buy-Out's. MAB, 68(12), 697-707.

    • Wright, M., Robbie, K., Thompson, S., Bruining, H., Herst, A., Romanet, Y., & Joachimson, R. (1994). Harvesting and the Longevity of Management Buy-Outs and Buy-ins: A Four Country Study. Entrepreneurship Theory and Practice, 18(2), 90-109.

    • Bruining, H. (1993). Ondernemen op eigen kracht blijkt succesvol alternatief. Economenblad, 15(3), 3-8.

  • Professional (15)

    • Bruining, H., Verwaal, E., & Wright, DM. (2012). MBOs, private equity and entrepreneurial management. RSM Insight, 10(2), 18-19. http://hdl.handle.net/1765/40129

    • Bruining, H., & Burrows, AM. (2001). A more positive attitude towards buyouts. Acquisitions Monthly, April, 52-53.

    • Bruining, H., & Burrows, AM. (2001). The road to private equity remains open for Dutch buyouts. Acquisitions Monthly, October, 36-37.

    • Bruining, H. (2001). Dutch buyout market remains attractive. Acquisitions Monthly, April, 29-31.

    • Bruining, H., & Burrows, AM. (2001). Dutch buyouts deal flow slowing down. Acquisitions Monthly, November, 62-64.

    • Bruining, H., & Robbie, K. (1998). The Netherlands-steady Dutch deal flow. Acquisitions Monthly, October, 132-133.

    • Bruining, H., & Robbie, K. (1998). European buyouts - The Netherlands: a record year. Acquisitions Monthly, Supplment(March), 73-74.

    • Bruining, H., & Berrevoets, RR. (1997). The Netherlands: A more nature market. Acquisitions Monthly, 132-133.

    • Bruining, H., & Robbie, K. (1996). The Netherlands and Belgium - value holding up well. Acquisitions Monthly, oct., 124-125.

    • Bruining, H., & Robbie, K. (1995). Buy-outs in The Netherlands and Belgium: international deals help expand the market. Acquisitions Monthly, September, 116-118.

    • Bruining, H., & Wright, K. (1995). The Netherlands - double Dutch. Acquisitions Monthly, supplement(november), 116-117.

    • Bruining, H., Heijnsdijk, J., & Herst, A. (1991). Management buy-outs, A Continuing Story. Voorwoord Special Management Buy-Outs. Bedrijfskunde, 63(4), 390-391.

    • Bruining, H., & de Jong, AC. (1991). Trends in managment buy-outs in Nederland. Bedrijfskunde, 63(4), 392-407.

    • Bruining, H., Bonnet, M., & Herst, A. (1988). De (management) Buy-Out. Bedrijfskunde, 60, 98-99.

    • Bruining, H., & Lugtenburg, R. (1988). Toegenomen productiviteit bij management buy-outs. Bedrijfskunde, 60, 111-119.

Book (8)

  • Academic (6)

    • Wright, DM., & Bruining, H. (2008). Private Equity and Management Buy-outs. Edward Elgar Publishing.

    • Bruining, H., Bunt, J., van der Drift, JFC., Nijhoff, RB., & Prins, AJW. (1996). Globalization Accelerating Growth. Le Manageur.

    • Bruining, H., Citron, D., Wright, M., & Herst, ACC. (1996). Loan convenants, relationship banking and MBOs in default. RIBES.

    • Bruining, H., Wright, M., Robbie, K., Wilson, N., Herst, ACC., & Desbrieres, P. (1995). Dynamic entrepeneurs: management buy-outs in the UK, France and Holland. De Vlerick School voor Management.

    • Bruining, H., & Bonnet, MPB. (1994). De management buy-out van TIECO (herziene versie).

    • Bruining, H., Middelkamp, A., & van Schaick, K. (1994). Argentinië verzilvert! EFR/EUR.

  • Professional (2)

    • Bruining, H., & Bonnet, MPB. (1997). De Management Buy-Out van TIECO, Integratie Case, Propedeuse Bedrijfshuishoudkunde II. Erasmus Universiteit Rotterdam (EUR).

    • Bruining, H., & Bonnet, MPB. (1996). De Management Buy-Out van TIECO. Universiteitsdrukkerij.

Book editing (1)

  • Academic (1)

    • Bruining, H., Graaff, LE., & Bletz, JCF. (1994). Beter presteren na management buy-out. De Nationale Investeringsbank.

Chapter (14)

  • Academic (14)

    • Manigart, S., De Maeseneire, W., Wright, M., Pruthi, S., Lockett, A., Bruining, H., Hommel, U., & Landstrom, H. (2008). How international are European Venture Capital Firms? In L. Dana, M. Han, I. M. Welpe, & V. Ratten (Eds.), Handbook of Research on European Business and Entrepreneurship. Towards a Theory of Internationalization (pp. 17-30). Edward Elgar Publishing.

    • Bruining, H., & Herst, A. (2007). Agency Theory and Management Buy-Out: the Role of the Venture Capitalists. In G. Gregoriou, M. Kooli, & R. Kraeussl (Eds.), Venture Capital in Europe (pp. 297-309). Butterworth-Heinemann.

    • Bruining, H., & Wright, DM. (2004). Management buy-out gif of zegen voor de werknemers. In D. N. Hartog, & J. Paauwe (Eds.), The spice of science: A collection of papers in honour of Roger Williams (pp. 65-74). Erasmus University Rotterdam (EUR).

    • Bruining, H. (1999). Reactie op "Management Accounting en sociotechniek". In M. P. B. Bonnet, & A. de Bos (Eds.), FMA-kroniek 1999 (pp. 375-377). Deloitte & Touche.

    • Bruining, H. (1999). Loan covenants, relationship banking and management buy-outs in default: a comparative study of the UK and Holland. In M. B. Wright, & K. Robbie (Eds.), Management Buy-outs and Venture Capital: into the Next Millennium (pp. 153-180). Edward Elgar Publishing.

    • Bruining, H. (1999). Management buy-outs and entrepreneurial orientation: evidence from Dutch case studies. In P. D. Reynolds, W. D. Bygrave, G. D. Meyer, S. Manigart, H. J. Sapienza, C. M. Mason, & K. G. Shaver (Eds.), Frontiers of entrpreneurship research 1999 (pp. 535-535). Babson College.

    • Bruining, H., Herst, ACC., Bonnet, MPB., & Berrevoets, RR. (1998). Corporate transformation. In M. Wright, & K. Starkey (Eds.), Conference Proceedings of the British Academy of Management (pp. 44-46). University Business School Nottingham.

    • Bruining, H., Wright, M., Thompson, S., Robbie, K., Herst, ACC., Romanet, Y., & Joachimsson, R. (1997). Harvesting and the longevity of management buy-outs and buy-ins: a four-country study. In M. Wright, & K. Robbie (Eds.), Venture Capital (The International Library of Management) (pp. 429-448). Dartmouth Publishing Company Limited.

    • Bruining, H., Braam, LGM., & Herst, ACC. (1997). Financial leverage and its implications for business management. In R. L. Jenson, & I. R. Jenssen (Eds.), Proceedings of the Twenty-Six Annual Meeting of the Western Decision Sciences Institute, March 25-29 (pp. 166-169). Western Decision Science Institute.

    • Bruining, H. (1996). Bevrijding na grensoverschrijding. In H. A. J. Krosse, J. Paauwe, & A. R. T. Williams (Eds.), Shared frontiers of learning (pp. 95-102). Uitgeverij Eburon.

    • Bruining, H., van Neerven, TH., & Paauwe, J. (1995). Managing without tradional owners. In P. Flood, M. Cannon, & J. Paauwe (Eds.), Managing without Traditional Methods - International Innovations in Human Resource Management (pp. 105-146). Addison-Wesley.

    • Bruining, H., & Herst, ACC. (1995). Restructuring and revitalising MBO firms - a study of Dutch divisional management buy-outs. In M. Wright, & K. Starskey (Eds.), Annual Conference Revitalising Organisations:The Academic Contribution (pp. 440-453). British Academy of Management.

    • Bruining, H., Herst, ACC., Robbie, K., & Wright, M. (1995). The risk and returns of management buy-outs, evidence from the U.K. and Holland. In G. A. Marcoulides (Ed.), Proceedings of the Twenty-fourth Annual Meeting of the Western Decision Sciences Institute (pp. 166-169). California State University.

    • Bruining, H., Wright, M., Romanet, Y., Thompson, S., Joachimsson, R., & Herst, ACC. (1994). Harvesting longevity and the life cycle of management buy-outs and buy-ins: a four country study. In W. D. Bygrave, M. Hay, & J. Peters (Eds.), Financial times: Realizing investment value (pp. 82-110). Pitman Publishing.

Conference proceeding (1)

  • Professional (1)

    • Scholes, L., Wright, M., Westhead, P., Bruining, H., & Kloeckner, O. (2009). Family-Firm Buyouts, Private Equity, and Strategic Change. In The Journal of Private Equity (Vol. 12, pp. 7-19). Institutional Investor Journals.

Doctoral Thesis (1)

  • Internal (1)

    • Bruining, H. (1992). Performance improvement after management-buy-out. PhD in business economics. [Doctoral Thesis, Erasmus University Rotterdam]. Erasmus University Rotterdam (EUR).

Paper (2)

  • Academic (1)

    • Fan, Y., & Bruining, H. (2013). How Private Equity Firms Make Cross-border Investments: Learning to Internationalize.

  • Professional (1)

    • Bonnet, MPB., Bruining, H., Corhay, A., & Herst, ACC. (2001). Financial leverage and business policy evidence from Dutch management buy-outs. Paper presented at Eight Annual MFS Conference, Verona, Italy.

Report (13)

  • Academic (13)

    • Bruining, H., & Verwaal, E. (2005). Successful Management Buy-Outs: Are They Really More Entrepreneurial? (Erasmus research institute of management 2005-076 ed.) Rotterdam School of Management (RSM), EUR. Erasmus research institute of management Vol. 2005-076

    • Bruining, H., Boselie, JPEF., Wright, DM., & Bacon, N. (2004). The impact of business ownership change on employee relations: buy-outs in the UK and the Netherlands. (ERIM Report Series Research in Management 2004 021-ORG ed.) Rotterdam School of Management (RSM), EUR. ERIM Report Series Research in Management 2004 Vol. 021-ORG

    • Manigart, S., Lockett, A., Meuleman, M., Wright, DM., Landström, H., Bruining, H., Desbrières, P., & Hommel, U. (2002). Why do European venture capital companies syndicate? (ERIM Report Series in Management 2002 98-ORG ed.) ERIM Report Series in Management 2002 Vol. 98-ORG

    • Bruining, H., Bonnet, MPB., & Wright, DM. (2002). Management control systems and strategy change in byouts. (ERIM Report Series Research in Management 2002 113-ORG ed.) ERIM Report Series Research in Management 2002 Vol. 113-ORG

    • Bruining, H., & Wright, DM. (2002). Entrepreneurial orientation in management buy-outs and the contribution of venture capital. (ERIM Report Series Research in Management 2002 67-ORG ed.) ERIM Report Series Research in Management 2002 Vol. 67-ORG

    • Lockett, A., Wright, DM., Bruining, H., Westhead, P., & Scholes, L. (2002). Internationalization of management buyouts: firm strategies and venture capitalist contribution. (ERIM Report Series 2002 58-ORG ed.) ERIM Report Series 2002 Vol. 58-ORG

    • Bruining, H. (2000). Entrepreuneurial orientation and the contribution of venture capital. (RIBES 2005 ed.) RIBES Vol. 2005

    • Bruining, H., Hendrik, R., & van Meenen, E. (2000). Beheersing van financiële risico's bij management buy-outs en buy-ins door banken. (RIBES 2007 ed.) RIBES Vol. 2007

    • Bruining, H. (1999). New ownership, entrepreneurial orientation and performance. (RIBES 9916 ed.) RIBES Vol. 9916

    • Bruining, H., Bonnet, MPB., & Herst, ACC. (1999). The impact of financial leverage on business policy - evidence from Dutch management buy-outs. (Intern Onderzoeksverslag - Working Paper EBB 9901 ed.) Intern Onderzoeksverslag - Working Paper Vol. EBB 9901

    • Bruining, H., Herst, ACC., & Bonnet, MPB. (1998). Financial leverage and its implications for business management. (RIBES 9845 ed.) RIBES Vol. 9845

    • Bruining, H., & Berrevoets, RR. (1998). Understanding entrepreneurial orientation after a management buy-out. (RIBES 9842 ed.) RIBES Vol. 9842

    • Bruining, H., Wright, M., Robbie, K., Wilson, N., Herst, ACC., & Desbrieres, P. (1998). Dynamic entrepreneurs: management buy-outs in the UK, France and Holland. (RIBES 9810 ed.) RIBES Vol. 9810

Working paper (2)

  • Academic (2)

    • Bruining, H., & Saly, A.-W. (2014). Corporate Entrepreneurship and Longer Term Financial Performance.

    • Bruining, H., Zacharakis, A., Arthurs, J., Brush, C., Bruton, G., De Clerq, D., Dimov, D., Edelman, L., Fayolle, A., Matusik, S., Schindehutte, M., & Sorheim, R. (2014). Frontiers of Entrepreneurship Research. The Arthur M. Blank Center for Entrepreneurship.

Additional activities (2)

  • Levers of control na een management buy-out

    Oral presentation (Academic)

  • Orientation and the Contribution of Venture Capital

    Oral presentation (Academic)

PhD Track (1)

  • Role: Daily Supervisor

Event (1)

2015
November
19
Private Equity and Professionalization of Management Boards in Family and Divisional Buyouts
Valedictory symposium
As: Speaker

Address

Visiting address

Office: Mandeville Building T07-51
Burgemeester Oudlaan 50
3062 PA Rotterdam

Postal address

Postbus 1738
3000 DR Rotterdam
Netherlands

Research Initiatives

Latest publication

Article

Le Nadant, A.-L., Perdreau, F., & Bruining, H. (2018). Industry specialization of private equity firms: a source of buy-out performance heterogeneity. Venture Capital, 20(3), 237-259. https://doi.org/10.1080/13691066.2017.1422424