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Intangible Assets and Company Succession: Are There any Differences between Buy-In and Buy-Out Initiatives?

Intangible Assets and Company Succession: Are There any Differences between Buy-In and Buy-Out Initiatives?

Susanne Durst
Copyright: © 2011 |Pages: 22
ISBN13: 9781609600549|ISBN10: 1609600541|EISBN13: 9781609600563
DOI: 10.4018/978-1-60960-054-9.ch004
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MLA

Durst, Susanne. "Intangible Assets and Company Succession: Are There any Differences between Buy-In and Buy-Out Initiatives?." Identifying, Measuring, and Valuing Knowledge-Based Intangible Assets: New Perspectives, edited by Belen Vallejo-Alonso, et al., IGI Global, 2011, pp. 64-85. https://doi.org/10.4018/978-1-60960-054-9.ch004

APA

Durst, S. (2011). Intangible Assets and Company Succession: Are There any Differences between Buy-In and Buy-Out Initiatives?. In B. Vallejo-Alonso, A. Rodriguez-Castellanos, & G. Arregui-Ayastuy (Eds.), Identifying, Measuring, and Valuing Knowledge-Based Intangible Assets: New Perspectives (pp. 64-85). IGI Global. https://doi.org/10.4018/978-1-60960-054-9.ch004

Chicago

Durst, Susanne. "Intangible Assets and Company Succession: Are There any Differences between Buy-In and Buy-Out Initiatives?." In Identifying, Measuring, and Valuing Knowledge-Based Intangible Assets: New Perspectives, edited by Belen Vallejo-Alonso, Arturo Rodriguez-Castellanos, and Gerardo Arregui-Ayastuy, 64-85. Hershey, PA: IGI Global, 2011. https://doi.org/10.4018/978-1-60960-054-9.ch004

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Abstract

A successful company succession depends on a multitude of different aspects. In the case of external succession, certainly, the available funds represent a critical factor. Nevertheless, it can be argued that the decision to acquire a company is based on other factors as well. This chapter rests upon the hypothesis that a potential external successor will be only interested in those companies offering promising prospects. Thus, it is expected that the decision to takeover a company is rooted in the target firm’s inherent intangible assets which justify a financial investment in return. Data are collected through interviews with eight external successors from Germany who pursued buy-in respectively buy-out initiatives in small and medium-sized enterprises. The study’s findings highlight those intangible assets that are regarded as critical in the external succession process. This helps us to obtain a more complete picture about the issue of company succession.

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