Buy-Outs in Family Businesses

Changes in Corporate Governance, Instruments of Managerial Control, and Financial Practices
 Taschenbuch
Sofort lieferbar | Lieferzeit:3-5 Tage I

96,29 €*

Alle Preise inkl. MwSt. | zzgl. Versand
ISBN-13:
9783834916273
Einband:
Taschenbuch
Erscheinungsdatum:
25.06.2009
Seiten:
377
Autor:
Oliver Klöckner
Gewicht:
518 g
Format:
212x149x23 mm
Serie:
EFS - Entrepreneurial and Financial Studies
Sprache:
Deutsch
Beschreibung:
In recent years, buy-outs have become an increasingly frequent solution to succession problems in family businesses. Despite a dramatic surge in the number and total volume of these transactions, their consequences for the bought-out companies are yet poorly understood.



Considering this background, Oliver Klöckner investigates the changes resulting from buy-outs in family businesses in the areas of corporate governance, instruments of managerial control, and financial practices. A comprehensive literature review contrasts the characteristics of family businesses with those of non-family businesses after a buy-out. This theoretical discussion is complemented by an in-depth analysis of 17 bought-out family businesses in Germany. The detailed analysis reveals a multitude of changes, which can be subsumed under three main effects: First, companies are professionalized. Second, corporate processes are more directed towards economic goals, i.e. economized. Third, agency conflicts arising from the separation of ownership and management are reduced.
From the contents:
Theoretical and empirical foundation, Background of buy-out transactions, Changes in corporate governance, Changes in instruments of managerial control, Changes in financial practices, Conclusion, implications and outlook
In recent years, buy-outs have become an increasingly frequent solution to succession problems in family businesses. Despite a dramatic surge in the number and total volume of these transactions, their consequences for the bought-out companies are yet poorly understood.
Considering this background, Oliver Klöckner investigates the changes resulting from buy-outs in family businesses in the areas of corporate governance, instruments of managerial control, and financial practices. A comprehensive literature review contrasts the characteristics of family businesses with those of non-family businesses after a buy-out. This theoretical discussion is complemented by an in-depth analysis of 17 bought-out family businesses in Germany. The detailed analysis reveals a multitude of changes, which can be subsumed under three main effects: First, companies are professionalized. Second, corporate processes are more directed towards economic goals, i.e. economized. Third, agency conflicts arising from the separation of ownership and management are reduced.

Kunden Rezensionen

Zu diesem Artikel ist noch keine Rezension vorhanden.
Helfen sie anderen Besuchern und verfassen Sie selbst eine Rezension.