Post-LBO development [electronic resource] : Analysis of Changes in Strategy, Operations, and Performance after the Exit from Leveraged Buyouts in Germany / by Richard K. Lenz.

By:

Lenz, Richard K [author.]

Contributor(s):

SpringerLink (Online service)

Material type: Text

TextSeries: Entrepreneurial and Financial StudiesPublisher: Wiesbaden : Gabler Verlag : Imprint: Gabler Verlag, 2010Edition: 1st ed. 2010Description: XII, 530 p. 25 illus. online resourceContent type:

text

Media type:

computer

Carrier type:

online resource

ISBN:

9783834986009

Subject(s):

Additional physical formats: Printed edition:: No titleDDC classification:

LOC classification:

HJ9-9940

Online resources:

Click here to access online

Contents:

and Founding Theory -- Model Building and Hypotheses Development -- Empirical Part -- Synthesis and Outlook.

In: Springer Nature eBookSummary: 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.

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Item type	Home library	Collection	Call number	Status	Date due	Barcode	Item holds
E-Book	Biblioteca Digital	Colección SPRINGER	336 (Browse shelf(Opens below))	Not For Loan

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Previous	336 Effizienzkonzepte und nutzentheoretische Ansätze zur Lösung stochastischer Entscheidungsmodelle	336 Betriebswirtschaftstheorie Investitionstheorie /	336 Model Income Tax Treaties	336 Post-LBO development Analysis of Changes in Strategy, Operations, and Performance after the Exit from Leveraged Buyouts in Germany /	336 Welfare State at Risk Rising Inequality in Europe /	336 Die Technik des Bankbetriebes ein Hand- und Lehrbuch des praktischen Bank- und Börsenwesens /	336 Die Deflation und Ihre Praxis in England · den Vereinigten Staaten · Frankreich und der Tschechoslowakei Band 1 /	Next

and Founding Theory -- Model Building and Hypotheses Development -- Empirical Part -- Synthesis and Outlook.

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.

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