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The effects of private equity ownership in U.S. nursing homes quality and financial performance: A systematic review

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  • Orewa, Gregory N.
  • Karabukayeva, Aizhan
  • Pradhan, Rohit
  • Jimoh, Itopa
  • Weech-Maldonado, Robert

Abstract

Private equity (PE) investment in U.S. nursing homes has increased significantly over the past two decades. The emergence of this novel ownership model has prompted concerns regarding its effects on nursing home performance, especially quality.

Suggested Citation

  • Orewa, Gregory N. & Karabukayeva, Aizhan & Pradhan, Rohit & Jimoh, Itopa & Weech-Maldonado, Robert, 2025. "The effects of private equity ownership in U.S. nursing homes quality and financial performance: A systematic review," Health Policy, Elsevier, vol. 161(C).
    • Handle: RePEc:eee:hepoli:v:161:y:2025:i:c:s0168851025001435
    DOI: 10.1016/j.healthpol.2025.105388
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    References listed on IDEAS

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    1. Jensen, Michael C. & Meckling, William H., 2008. "Theory of the firm: managerial behavior, agency costs and ownership structure," RAE - Revista de Administração de Empresas, FGV-EAESP Escola de Administração de Empresas de São Paulo (Brazil), vol. 48(2), April.
    2. Sean Shenghsiu Huang & John R. Bowblis, 2019. "Private equity ownership and nursing home quality: an instrumental variables approach," International Journal of Health Economics and Management, Springer, vol. 19(3), pages 273-299, December.
    3. Steven N. Kaplan & Per Stromberg, 2009. "Leveraged Buyouts and Private Equity," Journal of Economic Perspectives, American Economic Association, vol. 23(1), pages 121-146, Winter.
    4. Atul Gupta & Sabrina T Howell & Constantine Yannelis & Abhinav Gupta, 2024. "Owner Incentives and Performance in Healthcare: Private Equity Investment in Nursing Homes," The Review of Financial Studies, Society for Financial Studies, vol. 37(4), pages 1029-1077.
    5. Matthew J Page & Joanne E McKenzie & Patrick M Bossuyt & Isabelle Boutron & Tammy C Hoffmann & Cynthia D Mulrow & Larissa Shamseer & Jennifer M Tetzlaff & Elie A Akl & Sue E Brennan & Roger Chou & Jul, 2021. "The PRISMA 2020 statement: An updated guideline for reporting systematic reviews," PLOS Medicine, Public Library of Science, vol. 18(3), pages 1-15, March.
    6. Atul Gupta & Sabrina T Howell & Constantine Yannelis & Abhinav Gupta, 2021. "Does Private Equity Investment in Healthcare Benefit Patients? Evidence from Nursing Homes," Working Papers 2021-20, Becker Friedman Institute for Research In Economics.
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