000 02392nam a22004695i 4500
001 978-3-8349-8600-9
003 DE-He213
005 20140220084553.0
007 cr nn 008mamaa
008 100715s2010 gw | s |||| 0|eng d
020 _a9783834986009
_9978-3-8349-8600-9
024 7 _a10.1007/978-3-8349-8600-9
_2doi
050 4 _aHG1-9999
050 4 _aHG4501-6051
050 4 _aHG1501-HG3550
072 7 _aKFF
_2bicssc
072 7 _aKFFK
_2bicssc
072 7 _aBUS027000
_2bisacsh
072 7 _aBUS004000
_2bisacsh
082 0 4 _a657.8333
_223
082 0 4 _a658.152
_223
100 1 _aLenz, Richard K.
_eauthor.
245 1 0 _aPost-LBO Development
_h[electronic resource] :
_bAnalysis of Changes in Strategy, Operations, and Performance after the Exit from Leveraged Buyouts in Germany /
_cby Richard K. Lenz.
264 1 _aWiesbaden :
_bGabler,
_c2010.
300 _aXII, 530p. 25 illus.
_bonline resource.
336 _atext
_btxt
_2rdacontent
337 _acomputer
_bc
_2rdamedia
338 _aonline resource
_bcr
_2rdacarrier
347 _atext file
_bPDF
_2rda
505 0 _aand Founding Theory -- Model Building and Hypotheses Development -- Empirical Part -- Synthesis and Outlook.
520 _aThe 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.
650 0 _aEconomics.
650 0 _aBanks and banking.
650 1 4 _aEconomics/Management Science.
650 2 4 _aFinance /Banking.
710 2 _aSpringerLink (Online service)
773 0 _tSpringer eBooks
776 0 8 _iPrinted edition:
_z9783834921635
856 4 0 _uhttp://dx.doi.org/10.1007/978-3-8349-8600-9
912 _aZDB-2-SBE
999 _c113044
_d113044