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Buy-outs in Family Businesses : Changes in Corporate Governance, Instruments of Managerial Control, and Financial Practices / by Oliver Klöckner
Resource type: Ressourcentyp: Buch (Online)Buch (Online)Sprache: Englisch Reihen: SpringerLink BücherVerlag: Wiesbaden : Gabler Verlag / GWV Fachverlage GmbH, Wiesbaden, 2009Beschreibung: Online-Ressource (XIX, 377p. 50 illus, online resource)ISBN:- 9783834994776
- 657.8333
- 658.152
- 658.162
- HG1-9999 HG4501-6051 HG1501-HG3550
- HG1-9999
- HG1501-HG3550
- HG4501-6051
Inhalte:
Zusammenfassung: Oliver Klöckner investigates the changes resulting from buy-outs in family businesses. He contrasts the characteristics of family businesses with those of non-family businesses after a buy-out. His theoretical discussion is complemented by an in-depth analysis of 17 bought-out family businesses in Germany. Dr. Oliver Klöckner promovierte als wissenschaftlicher Mitarbeiter am KfW-Stiftungslehrstuhl für Entrepreneurial Finance bei Prof. Dr. Dr. Ann-Kristin Achleitner. Er arbeitet heute in der Strategieabteilung von Telefonica o2 Germany.Zusammenfassung: 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.PPN: PPN: 1648375154Package identifier: Produktsigel: ZDB-2-SBE | ZDB-2-SWI
Preliminary; Introduction; 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; Back matter
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