UID:
almahu_9949285301902882
Format:
XII, 530 p. 25 illus.
,
online resource.
Edition:
1st ed. 2010.
ISBN:
9783834986009
Series Statement:
Entrepreneurial and Financial Studies
Content:
The current financial crisis has intensified the discussion around buyouts and the related value creation of financial investors. Richard K. Lenz analyses how LBOs evolve after the financial investors have exited. Based on three case studies of former LBOs in Germany, he shows that performance decline is often related to the weakening of the former performance-enhancing series of governance instruments. The author reveals that management starts to over-emphasize growth while improvements on the micro-level of the company are robust and allow outperforming competitors. Finally, he concludes that performance decline seems to be rather due to inconsistent interests and less monitoring by new shareholders than to wealth transfer towards financial investors.
Note:
and Founding Theory -- Model Building and Hypotheses Development -- Empirical Part -- Synthesis and Outlook.
In:
Springer Nature eBook
Additional Edition:
Printed edition: ISBN 9783834921635
Language:
English
DOI:
10.1007/978-3-8349-8600-9
URL:
https://doi.org/10.1007/978-3-8349-8600-9
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