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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,...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autor principal: Klöckner, Oliver (Autor)
Autor Corporativo: SpringerLink (Online service)
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Wiesbaden : Gabler Verlag : Imprint: Gabler Verlag, 2009.
Edición:1st ed. 2009.
Colección:Entrepreneurial and Financial Studies
Temas:
Acceso en línea:Texto Completo

MARC

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245 1 0 |a Buy-outs in Family Businesses  |h [electronic resource] :  |b Changes in Corporate Governance, Instruments of Managerial Control, and Financial Practices /  |c by Oliver Klöckner. 
250 |a 1st ed. 2009. 
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300 |a XIX, 377 p. 50 illus.  |b online resource. 
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505 0 |a 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. 
520 |a 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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