| Description |
1 online resource : v.: digital |
| Contents |
Theoretical foundation -- 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 |
| Summary |
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 Klckner 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 |
| Analysis |
finance |
|
bankwezen |
|
banking sector |
|
economie |
|
economics |
|
bedrijfswetenschap |
|
management science |
|
Management studies, Business Administration, Organizational Science (General) |
|
Economics (General) |
|
Management, bedrijfskunde, organisatiekunde (algemeen) |
|
Economie (algemeen) |
| Bibliography |
Includes bibliographical references |
| Subject |
Management buyouts.
|
|
Family-owned business enterprises.
|
|
Economics.
|
|
Banks and banking.
|
|
economics.
|
|
Banks and banking
|
|
Economics
|
|
Family-owned business enterprises
|
|
Management buyouts
|
|
Familienbetrieb
|
|
Unternehmenskauf
|
|
Reorganisation
|
|
Change Management
|
| Form |
Electronic book
|
| ISBN |
9783834994776 |
|
3834994774 |
|
