Download or read book Private Equity Investments in Family Businesses written by Götz Müller and published by V&R unipress GmbH. This book was released on 2013 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: English summary: There is only limited academic attention paid to the topic of Private Equity Investments in Family Businesses although the topic is becoming increasingly relevant for both entity types. In order to advance the field, this study focuses on the organizational metamorphosis of Family Businesses as a response to a Private Equity investment. In specific, changes in performance and its potential determinants were researched by means of eight case studies. The results indicate a neutral to beneficial performance development when Private Equity companies acquired a majority stake and a neutral development in case of a minority investment. Analyses further revealed that the positive performance improvement correlated with an organizational context that nurtured higher levels of individual discipline and stretch as well as organizational values that became aligned with market imperatives. German description: Investitionen von Private-Equity-Firmen in Familienunternehmen werden fur beide Parteien zunehmend relevanter. Um diesem Gebiet Rechnung zu tragen, wurde die Veranderung der wirtschaftlichen Leistungsfahigkeit von Familienunternehmen im Zuge einer Private Equity Investition in acht Fallstudien untersucht. Die Resultate zeigen eine neutrale bis positive Veranderung der Leistungsfahigkeit wenn Private-Equity-Hauser eine Mehrheitsbeteiligung in Familienunternehmen erwerben. Bei Minderheitsbeteiligungen konnte keine weitreichende Veranderung festgestellt werden. Weiterhin zeigen die Ergebnisse, dass die untersuchten Mehrheitsbeteiligungen einen Kontext entwickeln, welcher das individuelle Leistungsverhalten des Managements zu einem hoheren Masse fordert. Dies beruht vor allem darauf, dass sich jene Firmen zunehmend Umwelt- und Marktbedingungen offnen und neue Operationsweisen adaptieren.

Download or read book Buy outs in Family Businesses written by Oliver Klöckner and published by Springer. This book was released on 2009-08-10 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Family Firms and Private Equity written by Oliver Ahlers and published by Springer. This book was released on 2014-07-25 with total page 253 pages. Available in PDF, EPUB and Kindle. Book excerpt: Family firms are of particular importance for many economies. We know little about family firm buyouts and how they are different from non-family firm buyouts. Oliver Ahlers investigates this under-researched topic. After a comprehensive literature review on family firm buyouts, the focus of his book is on the key steps of the investment process such as family firm valuation and negotiations between PE investors and family sellers. Additionally, it is investigated how “soft factors” such as trust, reputation or commitment could play an important role when PE and family firms interact. Throughout the book, differences between family and non-family firm buyouts are highlighted.

Download or read book Family Firms in Latin America written by Claudio G. Müller and published by Routledge. This book was released on 2018-09-03 with total page 231 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is one of the first books of its kind to highlight family firms in a Latin American context, helping students to understand the distinctive nature and challenges of Latin American family businesses and how these issues compare to family businesses around the world. Building on their experience in teaching, research, speaking, and consulting on the subject of family firms in Latin America, the editors explain the need to implement and adapt traditional frameworks in the changing Latin American reality. Each section provides background on the most important topics in the management of family firms, including strategy, entrepreneurship, and performance, followed by illustrative cases and a discussion of how this knowledge is similar to or different from other parts of the world. The book’s clear writing and in-depth approach will appeal to undergraduate and graduate students of international business, business in Latin America, and family business.

Download or read book Private Equity Minority Investments An Attractive Financing Alternative for Family Firms written by Alexander M. Franke and published by Diplomica Verlag. This book was released on 2015-08 with total page 97 pages. Available in PDF, EPUB and Kindle. Book excerpt: Private equity minority investments have become an increasingly attractive financing alternative for family firms. However, admitting a private equity investor as a minority shareholder seems to contradict with the objective of the owner family to preserve their continuous and unlimited influence on the businesses since they must at least partially cede control over the firm to the private equity investor. Therefore, the purpose of this book is to identify the primary decision drivers for family firm entrepreneurs in seeking private equity financing despite the therein related partial loss of control. By giving special consideration to the potential cooperation mechanisms between the shareholders, this book goes beyond the scope of previous studies. Cooperation is thereby considered as a prerequisite for the success of minority investments because due to its minority position, the private equity investor is not able to implement its value creation strategy against the will of the family firm entrepreneur.

Download or read book Private Equity in Family Firms written by Louise Scholes and published by . This book was released on 2015 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: The European private equity market (management buy-outs and buy-ins) has grown in prominence over recent years with CMBOR figures showing the numbers of deals conducted rising from 1212 in 1998 to 1436 by the end of 2007. One of the most important features of this market has been the growth in buy-outs of family/private firms from 451 in 1998 to 559 in the past ten years with the combined value of these deals rising from €11.2 billion to €18.3 billion during the same period. This report aims to provide a detailed insight into the issues surrounding buy-outs of family firms using the unique data from the CMBOR database of over 26,000 European buy-outs in addition to three other detailed studies of the family buy-out market.The first section of this report is based on data from the CMBOR database and gives a detailed breakdown of aggregate market statistics for family buy-out in Europe. This includes data such as the value and volume of buy-outs, employee data, deal pricing and structuring data, industry sector analysis as well as the exiting of family firms.Section 2 looks at the problems faced by family firms when dealing with succession. In this part of the report issues covered include those surrounding the way that information flows between vendor and acquirer impact the transaction process and the level of planning undertaken by family owners with regard to succession.In the third part the emphasis is on strategic issues surrounding family firm buy-outs. We examine whether there are distinct differences in the strategy of family businesses post buy-out and relate these to the ownership and governance of the firm pre buy-out.The final part analyses the changes in managerial style which can occur after a family firm has undergone a buy-out. We examine whether there is a move away from the more family orientated stewardship form of management to an approach characterized by more formal governance with mechanisms of planning and control.

Download or read book Building a Sustainable Family Office written by Scott Saslow and published by Greenleaf Book Group. This book was released on 2024-07-09 with total page 170 pages. Available in PDF, EPUB and Kindle. Book excerpt: Create and maintain a high performance family office and build a legacy Family offices are business entities built to primarily support a family’s wealth. Several trillions of dollars of wealth are concentrated in a small number of these offices globally. Yet often, family offices are not successfully passed on from one generation to another, creating disruption for family members, the ecosystem of providers, and broader society. Scott Saslow is a family office principal who has experienced the building—and rebuilding—of his family office many times. Unlike many family office books written by non-family advisors, this book is written by an insider who knows what worked and what didn’t. Along with the expertise of dozens of family office principals and top service professionals, Saslow shows how to • identify a unique and compelling purpose for the family office, which engages the next generation; • manage some of the interpersonal challenges inherent when working with family members; • create high performance family offices that make a difference for family and the broader society. Written for both the new and experienced family office principal, Building a Sustainable Family Office will inform and inspire with an “insider’s view” of the opportunities and challenges of building a family office that lasts.

Download or read book Financing Transitions written by François M. de Visscher and published by Springer. This book was released on 2016-04-30 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book establishes the principles and patterns necessary to laying the foundation for capital and liquidity planning. Through an in-depth examination of financial situations, it leads family businesses to making wise, well-timed choices about the future of the business and the family.

Download or read book Private Equity Investments in Family Business written by Götz Müller and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Mastering Private Equity written by Claudia Zeisberger and published by John Wiley & Sons. This book was released on 2017-08-07 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: The definitive guide to private equity for investors and finance professionals Mastering Private Equity was written with a professional audience in mind and provides a valuable and unique reference for investors, finance professionals, students and business owners looking to engage with private equity firms or invest in private equity funds. From deal sourcing to exit, LBOs to responsible investing, operational value creation to risk management, the book systematically distils the essence of private equity into core concepts and explains in detail the dynamics of venture capital, growth equity and buyout transactions. With a foreword by Henry Kravis, Co-Chairman and Co-CEO of KKR, and special guest comments by senior PE professionals. This book combines insights from leading academics and practitioners and was carefully structured to offer: A clear and concise reference for the industry expert A step-by-step guide for students and casual observers of the industry A theoretical companion to the INSEAD case book Private Equity in Action: Case Studies from Developed and Emerging Markets Features guest comments by senior PE professionals from the firms listed below: Abraaj • Adams Street Partners • Apax Partners • Baring PE Asia • Bridgepoint • The Carlyle Group • Coller Capital • Debevoise & Plimpton LLP • FMO • Foundry Group • Freshfields Bruckhaus Deringer • General Atlantic • ILPA • Intermediate Capital Group • KKR Capstone • LPEQ • Maxeda • Navis Capital • Northleaf Capital • Oaktree Capital • Partners Group • Permira • Terra Firma

Download or read book Private Equity Targets written by Francesco Baldi and published by Springer Science & Business Media. This book was released on 2012-10-24 with total page 91 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economics of private equity (PE). Empirical evidence on Italian manufacturing firms resorting to internal equity only to finance investments with positive NPV. Normative framework providing guidelines on how their entrepreneurial model (governance, gearing, growth) would be favourably influenced by conventional PE actions. Policy recommendations on how to expedite PE ownership expansion in Italy and other European countries.

Download or read book A Research Agenda for Family Business written by Andrea Calabrò and published by Edward Elgar Publishing. This book was released on 2020-09-25 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: This exciting Research Agenda expertly addresses the question: What will be important within the family business field and for family businesses in practice over the next decade? Top international contributors explore farsighted theories, methods and topics, often taking a multi-disciplinary approach in order to outline the potential routes for further advancing family business research. Chapters cover the significance of new family trends, entrepreneurial legacy, board diversity, spatial-familiness, corruption, innovation and digital business transformation, challenging core assumptions surrounding the family business phenomenon and mapping the future of the discipline.

Download or read book The Complete Family Office Handbook written by Kirby Rosplock and published by John Wiley & Sons. This book was released on 2014-01-28 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: Everything you need to know for successful wealth management for families Although the family office concept is not new, it is a phenomenon that is changing the wealth management landscape. With celebrities and business moguls, investment gurus and family business icons establishing private wealth management advisory firms, more and more individuals are asking what exactly is a family office and how does it operate? Family offices either serve one family exclusively or typically manage the wealth of a number of affluent families. If you’re like most families and advisors, you’re familiar with family offices, but may not know exactly how they work or why the family office is right for you or your clients. Dr. Kirby Rosplock, an expert on the family office concept, provides insights to some of the most common questions and even misperceptions in this handbook. The Complete Family Office Handbook explains how family offices operate, who should consider forming or joining one, and how to craft and set up a structure, purpose and vision for the office that fully serves a family’s particular needs and investment goals. Whether you’re a wealth creator, a member of a wealthy family considering forming or joining a family office, or a professional contemplating a career in this growing segment of the wealth management industry, this comprehensive guide provides insights to some of the most common questions and misperceptions.

Download or read book Family Business written by Carole Howorth and published by Routledge. This book was released on 2020-07-14 with total page 163 pages. Available in PDF, EPUB and Kindle. Book excerpt: Family businesses are the most common business form in the world, ranging from the millions of small local businesses to giants such as Walmart. This book showcases the crucial contribution that family businesses make to the world economy and informs students of the existing and potential research in this area. Drawing upon global academic research and case studies, theories of family businesses are explained and prevailing myths and assumptions are tested. Features including exercises linked to case studies develop skills in applying theories in practice. This concise textbook is essential reading for students of family business and useful additional reading for those interested in entrepreneurship more broadly.

Download or read book Private Equity at Work written by Eileen Appelbaum and published by Russell Sage Foundation. This book was released on 2014-03-31 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt: Private equity firms have long been at the center of public debates on the impact of the financial sector on Main Street companies. Are these firms financial innovators that save failing businesses or financial predators that bankrupt otherwise healthy companies and destroy jobs? The first comprehensive examination of this topic, Private Equity at Work provides a detailed yet accessible guide to this controversial business model. Economist Eileen Appelbaum and Professor Rosemary Batt carefully evaluate the evidence—including original case studies and interviews, legal documents, bankruptcy proceedings, media coverage, and existing academic scholarship—to demonstrate the effects of private equity on American businesses and workers. They document that while private equity firms have had positive effects on the operations and growth of small and mid-sized companies and in turning around failing companies, the interventions of private equity more often than not lead to significant negative consequences for many businesses and workers. Prior research on private equity has focused almost exclusively on the financial performance of private equity funds and the returns to their investors. Private Equity at Work provides a new roadmap to the largely hidden internal operations of these firms, showing how their business strategies disproportionately benefit the partners in private equity firms at the expense of other stakeholders and taxpayers. In the 1980s, leveraged buyouts by private equity firms saw high returns and were widely considered the solution to corporate wastefulness and mismanagement. And since 2000, nearly 11,500 companies—representing almost 8 million employees—have been purchased by private equity firms. As their role in the economy has increased, they have come under fire from labor unions and community advocates who argue that the proliferation of leveraged buyouts destroys jobs, causes wages to stagnate, saddles otherwise healthy companies with debt, and leads to subsidies from taxpayers. Appelbaum and Batt show that private equity firms’ financial strategies are designed to extract maximum value from the companies they buy and sell, often to the detriment of those companies and their employees and suppliers. Their risky decisions include buying companies and extracting dividends by loading them with high levels of debt and selling assets. These actions often lead to financial distress and a disproportionate focus on cost-cutting, outsourcing, and wage and benefit losses for workers, especially if they are unionized. Because the law views private equity firms as investors rather than employers, private equity owners are not held accountable for their actions in ways that public corporations are. And their actions are not transparent because private equity owned companies are not regulated by the Securities and Exchange Commission. Thus, any debts or costs of bankruptcy incurred fall on businesses owned by private equity and their workers, not the private equity firms that govern them. For employees this often means loss of jobs, health and pension benefits, and retirement income. Appelbaum and Batt conclude with a set of policy recommendations intended to curb the negative effects of private equity while preserving its constructive role in the economy. These include policies to improve transparency and accountability, as well as changes that would reduce the excessive use of financial engineering strategies by firms. A groundbreaking analysis of a hotly contested business model, Private Equity at Work provides an unprecedented analysis of the little-understood inner workings of private equity and of the effects of leveraged buyouts on American companies and workers. This important new work will be a valuable resource for scholars, policymakers, and the informed public alike.

Download or read book Handbook of Family Business and Family Business Consultation written by Florence Whiteman Kaslow and published by Routledge. This book was released on 2012-12-06 with total page 494 pages. Available in PDF, EPUB and Kindle. Book excerpt: A close-up examination of several important consultation models and of the structure, dynamics, and operation of family businesses in Brazil, Canada, Chile, Ireland, South Korea, Lebanon, Mexico, Saudi Arabia, Scotland, Trinidad & Tobago, Turkey, the United Kingdom and the United States This book is designed to fill an important gap in the family business literature. Florence W. Kaslow, Ph. D., Editor, an internationally respected authority in both family psychology and family business consultation, presents a disciplined look at how family businesses are structured, the ebb and flow of their dynamics, and the ways they operate in thirteen diverse countries spanning four continents. Top family business consultants working in those countries share their methods of helping clients increase earnings and fulfill the missions of their companies. The contributors examine essential aspects of the world of family business today, including family offices, globalization, and the management of a family’s wealth. Tables and figures, plus a helpful glossary, make complex and unfamiliar information easy to understand. As the world’s economies interface and intertwine with the evolution of international markets and globalization, the Handbook of Family Business and Family Business Consultation provides the essential broad knowledge that family business consultants need in today’s business climate. It provides a capsule history of the premiere organization dedicated to helping family businesses, the Family Firm Institute (FFI), and then examines issues essential to anyone involved in, or consulting to, family businesses, including: the importance of family businesses to the economic well-being of countries worldwide family offices—what they are and why they’re important the significance of differentiating between the family business and the business of being a family for everyone involved in these overlapping relationships the multiple and diverse roles that family business consultants play in different kinds of businesses and in different countries the roles of non-family employees in family businesses gender issues that affect family businesses sibling rivalry and other issues of family conflict the trend toward globalization in various family businesses—and the implications of this trend in terms of family wealth dispersion, international understanding, competitiveness, and other emerging phenomena With expert commentary from family business consultants in such a wide variety of countries, the Handbook of Family Business and Family Business Consultation is an essential read for family business consultants, family business owners, and Family Business Forum staff and member families, as well as professors and students in MBA programs and family business courses.

Download or read book Elgar Encyclopedia of Family Business written by Carole Howorth and published by Edward Elgar Publishing. This book was released on 2024-03-14 with total page 477 pages. Available in PDF, EPUB and Kindle. Book excerpt: The intertwining of family relationships with business imperatives provides a fascinating but complex arena for study. This Encyclopedia is a valuable resource because family business studies are necessarily multi-disciplinary and wide-ranging, drawing on entrepreneurship, management, governance, economics, ethics, business history, as well as family studies.