This work presents the theory, development and characteristics of management buy-ins (MBIs), an important feature of corporate restructuring since the late 1980s. The authors draw from the Centre for Management Buy-out Research's database (to date, the only comprehensive database in this area in Europe) to trace the development of MBIs and to compare and contrast the two main buy-out forms. The results of an extensive questionnaire survey of buy-ins are analyzed and case study results compared. The book also draws on surveys of the appraisal processes and return criteria of venture capital firms and their attitudes to second-time entrepreneurs as well as the interviews with second-time and serial entrepreneurs.
Reihe
Sprache
Verlagsort
Zielgruppe
Für höhere Schule und Studium
Für Beruf und Forschung
Maße
Höhe: 234 mm
Breite: 156 mm
ISBN-13
978-0-7190-4282-9 (9780719042829)
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Schweitzer Klassifikation
Part 1 Managerial and ownership succession and corporate restructuring: introduction; manager and entrepreneurs; financiers as active investors; the issues and the structure of the book; data and methodology. Part 2 The development of management buy-ins: introduction; a framework for development of buy-out and buy-in markets; development of the UK market for management buy-ins; management buy-ins in Continental Europe; conclusions. Part 3 Active investors, finance and target companies: introduction; attitudes and returns sought by venture capitalists; screening target buy-in companies; financial structuring; monitoring and control; conclusions. Part 4 Entrepreneurship: introduction; entrepreneurial characteristics; management buy-ins; typology of buy-in managers; management buy-outs; buy-outs, buy-ins and serial entrepreneurs; discussion and conclusions. Part 5 The effects of buy-ins: introduction; the effects of buy-outs; the effects of buy-ins; comparisons with other forms of corporate restructuring; influences on post buy-in performance; discussion and conclusions. Part 6 Management buy-ins and restructuring - case study evidence: introduction; the case studies; the issues; discussion and conclusions. Part 7 Life-cycle and longevity: introduction; theoretical perspectives; empirical evidence; general exit trends; overall exit rates; exits by year of buy-out and buy-in; size and exit; source and exit; longevity; exit intentions and actions; buy-in longevity and restructuring - case study evidence; conclusions. Part 8 Conclusions: introduction; implications for active investors; implications for entrepreneurs; implications for corporate restructuring; dynamics of corporate restructuring; concluding comments.
