Private equity buyouts, credit constraints, and firm exports

We analyse the impact of private equity buyouts on firm exports, a panel UK non-financial firms over 2004--2017. Using difference-in-differences estimations, we show that ownership increases probability exporting, value and export to sales ratio. further positive exports holds only after private-to-private buyouts, or acquisitions small young target firms. Our findings suggest investors mitigate credit constraints faced by their portfolio companies, hence boosting exports.