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 |
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bankwezen |
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banking sector |
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economie |
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economics |
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bedrijfswetenschap |
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management science |
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Management studies, Business Administration, Organizational Science (General) |
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Economics (General) |
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Management, bedrijfskunde, organisatiekunde (algemeen) |
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Economie (algemeen) |
Bibliography |
Includes bibliographical references |
Subject |
Management buyouts.
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Family-owned business enterprises.
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Economics.
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Banks and banking.
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economics.
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Banks and banking
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Economics
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Family-owned business enterprises
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Management buyouts
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Familienbetrieb
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Unternehmenskauf
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Reorganisation
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Change Management
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Form |
Electronic book
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ISBN |
9783834994776 |
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3834994774 |
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