2011
DOI: 10.2139/ssrn.1791526
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Die Kapitalmarktfähigkeit von Familienunternehmen - Unternehmensfinanzierung über Schuldschein, Anleihe und Börsengang (Capital Market Financing of Family Firms)

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Cited by 6 publications
(4 citation statements)
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“…Recent statistics suggest that family-owned firms constitute over 90 percent of all German firms, generate more than half of the business revenues, and employ about half of the workforce of the German private sector (Broer et al, 2008;Gottschalk et al, 2011). Germany provides an ideal setting for this study since the German economic landscape comprises not only small and medium-sized family firms but a significant number of large listed and private family firms (Achleitner et al, 2011).…”
Section: Maj 295mentioning
confidence: 99%
“…Recent statistics suggest that family-owned firms constitute over 90 percent of all German firms, generate more than half of the business revenues, and employ about half of the workforce of the German private sector (Broer et al, 2008;Gottschalk et al, 2011). Germany provides an ideal setting for this study since the German economic landscape comprises not only small and medium-sized family firms but a significant number of large listed and private family firms (Achleitner et al, 2011).…”
Section: Maj 295mentioning
confidence: 99%
“…Mezzanine financing applies to small and medium-sized enterprises, as well as family businesses and the implementation of strategic goals of these companies (Węcławski, 2015;Achleitner et al, 2011).…”
Section: Literature Reviewmentioning
confidence: 99%
“…Thus, this cannot be the typical source of funding for family business. In Germany, despite the fact that 85% of family enterprises declare being familiar with venture capital, its share in the structure of financing sources is at the level of 7-8% (Achleitner et al, 2008).…”
Section: Cooperation Of Family Business With Venture Capital Investorsmentioning
confidence: 99%
“…This is due to a relatively weak provision of small and medium-sized enterprises with equity, as well as insufficient transparency from the point of view of potential investors . As a result, these enterprises have a low capacity for financing on the capital markets (Achleitner et al, 2011). Stricter capital requirements and enhanced prudential standards for banks, as a result of the adoption of further Capital Accords (Basel II and III) and EU directives (CARD II and IV), led to the limitation of the scope and freedom of credit activities.…”
Section: Introductionmentioning
confidence: 99%