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Buy-outs in Family Businesses Changes in Corporate Governance, Instruments of Managerial Control, and Financial Practices /
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,...
| Clasificación: | Libro Electrónico |
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| Formato: | Electrónico eBook |
| Idioma: | Inglés |
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Wiesbaden :
Gabler Verlag : Imprint: Gabler Verlag,
2009.
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| Edición: | 1st ed. 2009. |
| Colección: | Entrepreneurial and Financial Studies
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| Acceso en línea: | Texto Completo |
| Sumario: | 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. |
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| Descripción Física: | XIX, 377 p. 50 illus. online resource. |
| ISBN: | 9783834994776 |