This study examines how global uncertainty and risk factors drive monthly returns of listed private equity across 13 developed economies during the period from April 2014 to March 2024. The findings reveal that financial and macroeconomic uncertainties significantly influence private equity firm performance by reducing its returns. Geopolitical uncertainty, resulting from political instability and global conflicts, further exacerbated these risks. GDP growth and industrial production are found to positively impact firm performance, while inflation, credit spreads, and unemployment rates negatively affect returns.
Authors: Oumaima Bouassida ; Yosra Ghabri
Publication date: 5 September 2025
Published in: Journal of Economic and Administrative Sciences
Volume/ Ausgabe: 1-19
Source download link: https://www.emerald.com/jeas/article-abstract/doi/10.1108/JEAS-01-2025-0023/1278084/Navigating-uncertainty-the-effect-of-macroeconomic?redirectedFrom=fulltext