Governing family enterprises and implications for performance - a financial perspective

Inhaltsverzeichnis (Table of Contents)

• Introduction
• Problem Definition
• Research Objectives
• Course of Investigation
• Setting the Family Business Framework
• Definitions of Family Business
• Qualitative and Quantitative Dimension
• Family and Firm Dimension
• Theories for Governing Family Enterprises
• Setting the Performance Framework
• Determining Performance according to Theory
• Owner-Manager Conflict
• Majority-Minority Conflict
• Definition of Performance
• Agency Conflicts in Family Enterprises
• Setting the Financial Framework
• Theories of Capital Structure, Investments and Finance
• Investing Capital
• Funding Capital
• Empirical Evidence for Financing of Family Enterprises
• Modern Financing Instruments and Family Enterprises
• Managing Capital
• Financial Management Techniques
• Risk Management

Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)

This thesis explores the governance of family enterprises from a financial perspective. It aims to analyze the impact of different financial strategies on the performance of family firms. Key themes of the thesis include:

• Defining and characterizing family businesses
• Examining the interplay between family and firm dynamics
• Understanding the impact of ownership and control structures on firm performance
• Exploring the implications of capital structure, investment, and financing decisions for family firms
• Analyzing the relationship between financial management and risk management in family enterprises

Zusammenfassung der Kapitel (Chapter Summaries)

• Introduction: This chapter introduces the research problem, defines the research objectives, and outlines the course of investigation.
• Setting the Family Business Framework: This chapter provides definitions of family businesses, exploring both qualitative and quantitative dimensions, as well as the interplay between family and firm. It also presents theories for governing family enterprises.
• Setting the Performance Framework: This chapter examines different theoretical perspectives on determining firm performance, focusing on the conflicts arising from ownership and control structures. It then defines performance and discusses agency conflicts within family enterprises.
• Setting the Financial Framework: This chapter explores theories related to capital structure, investments, and finance. It analyzes investment capital, funding capital, and its sources, including empirical evidence and modern financing instruments for family businesses. The chapter concludes by discussing financial management techniques and risk management in the context of family enterprises.

Schlüsselwörter (Keywords)

This thesis focuses on the governance of family enterprises from a financial perspective, examining the impact of different financial strategies on firm performance. Key terms and concepts explored include family business, ownership and control, capital structure, investment, financing, financial management, risk management, and performance.