New Semester
Started
Get
50% OFF
Study Help!
--h --m --s
Claim Now
Question Answers
Textbooks
Find textbooks, questions and answers
Oops, something went wrong!
Change your search query and then try again
S
Books
FREE
Study Help
Expert Questions
Accounting
General Management
Mathematics
Finance
Organizational Behaviour
Law
Physics
Operating System
Management Leadership
Sociology
Programming
Marketing
Database
Computer Network
Economics
Textbooks Solutions
Accounting
Managerial Accounting
Management Leadership
Cost Accounting
Statistics
Business Law
Corporate Finance
Finance
Economics
Auditing
Tutors
Online Tutors
Find a Tutor
Hire a Tutor
Become a Tutor
AI Tutor
AI Study Planner
NEW
Sell Books
Search
Search
Sign In
Register
study help
business
valuation measuring and managing
Managing The Family Business Theory And Practice 1st Edition Thomas Zellweger - Solutions
=+6. What is the sustainable free cash flow of the firm, that is, the amount that I could use to repay debt?
=+5. In the presence of multiple equity investors, what are the critical terms of a shareholder agreement?
=+4. What are the pros and cons of involving other equity investors?
=+3. How could I structure/combine various financing options so that they match the purchase price?
=+2. What financing options do I have?
=+1. How much equity do I have available?
=+5. What advisors do I need to understand the financial implications of the succession?
=+4. What are the critical deal-breakers?
=+3. If so, how should I secure my ongoing risk exposure?
=+2. Am I willing to help finance the succession, for example via a vendor loan, stepwise sale, earnout or convertible bond?
=+1. Am I looking for a fast exit, without any further involvement in the firm?
=+2. What do you think of the structure of this succession agreement? What incentives does it set?
=+1. Is $450 000 a realistic price for the remaining shares?
=+9. Why is a fully equity-financed firm not necessarily worth more than a partly leveraged firm?
=+8. How do you calculate the weighted average cost of capital of a firm?
=+7. How do you calculate free cash flow, starting with EBIT?
=+6. What is the difference between equity value and enterprise value?
=+5. What assumptions in a DCF valuation have an important impact on the resulting firm value?
=+4. How do you assess the DCF value of a firm? What are the advantages/disadvantages of this valuation method?
=+3. How do you assess the EBIT multiple value of a firm? What are the advantages/disadvantages of this valuation method?
=+2. How do you assess the net asset value of a firm? What are the advantages/disadvantages of this valuation method?
=+1. Why does corporate value appear so different for incumbent and successor?
=+7. Has the incumbent paid him-/herself an above-market-level salary? If so, what would the firm’s cash flow look like if a market-level salary were paid?
=+6. How do the incumbent’s private expenses impact the valuation of the firm?
=+5. Are there any assets (e.g., real estate) that have to be valued differently than the operating business?
=+4. What is a reasonable value estimate as assessed by an independent advisor?
=+3. What are the appropriate valuation methods? What critical assumptions are linked to each valuation method?
=+2. What are the specific risks of the firm which have an impact on future cash flows?
=+1. What is the financial outlook of the firm (balance sheet, income statement and cash flow statement) for the next five years?
=+5. What level of discounts do tax authorities accept compared to a fair market valuation?
=+4. Depending on the succession option, am I willing to compromise on the sale price?
=+3. Do I agree with the price estimate? If not, could emotional biases potentially be affecting my valuation?
=+2. What is a reasonable value estimate as assessed by an independent advisor?
=+1. What critical assumptions are linked to each valuation method?
=+z Does the valuation apply a single or multiple valuation methods? As different valuation methods make different assumptions about value drivers, it is important to triangulate the valuation using multiple valuation methods
=+z Does the applied valuation method make sense in light of the firm’s business activity?
=+z How plausible are the critical parameters in the applied valuation method?
=+z Have there been separate value assessments for operating and nonoperating assets?
=+z Do the assumptions for value adjustments and budget figures make sense?
=+What adjustments have been applied to the balance sheet and income statement?
=+z How biased are the financial data used to calculate firm value?
=+ Depending on the evaluator’s position at the negotiation table, he or she may have incentives to either deflate or inflate firm value.
=+z Who executed the valuation? Is the evaluator advising the buyer, the seller or both?
=+8. What can parents do to help integrate their children into the family firm?
=+7. What are the potential sources of conflict if management and ownership succession are not well defined between successor and incumbent?
=+6. Consider a firm you know well. What does the roadmap for management, ownership and board succession look like?
=+5. How do the roles of incumbent and successor change throughout the succession process?
=+4. ‘Parallel engagement of the incumbent and successor in the firm should be minimized.’ Do you agree or disagree? Why?
=+3. Given these strategic challenges, what questions do the incumbent and successor need to address?
=+2. What strategic challenges do owner-managed family firms typically face when approaching the succession phase?
=+1. Why is reviewing the firm’s strategy important for the succession process?
=+9. How do changes in the valuation of the firm during succession impact my acquisition of(remaining) ownership?
=+8. When and under what conditions do I acquire ownership in the company?
=+7. Do we need external additions to the board?
=+6. Do I want to become the new CEO?
=+5. Will I become involved on the board? If so, in what role?
=+4. How do I communicate with the incumbent inside and outside the firm?
=+3. What are my roles and responsibilities in the firm when the incumbent is still involved?
=+2. Is the current management team supporting me? Do I need to reconfigure the management team in the future?
=+1. At what level should I enter the firm? What are the pros and cons of the proposed solution?
=+13. How can we support the successor’s integration into the firm?
=+12. Can I ensure my retirement income without significant proceeds from the sale of the firm?
=+11. What will I do with my time after my complete exit from the firm?
=+10. Is the successor able to step up to the leadership role?
=+Do we need to find new managerial talent at a second managerial level?
=+9. Is the current management team supporting the successor?
=+8. How do changes in the valuation of the firm during succession impact the successor’s acquisition of (remaining) ownership later in the process?
=+7. What tasks do I want to pass on to the successor first? What next?
=+6. On the timeline, how do we move from me being 100% owner to the successor being 100%owner?
=+5. How do I communicate with the successor inside and outside the firm?
=+4. Will I stay involved on the board? If so, in what role, and for how long?
=+3. What are my roles and responsibilities when I am involved in the firm at the same time as the successor?
=+What are the pros and cons of the proposed entry path?
=+2. At what level should the successor enter the firm?
=+1. How long should I stay on as CEO? When will I pass on the CEO role?
=+z Which parts of the firm are to be passed on?
=+z What are the future opportunities and threats for the firm?
=+z What are the current strengths and weaknesses of the firm?
=+14. Ability and willingness are both critical characteristics for a successor. What are the likely consequences when insufficiently qualified or committed successors enter the firm?
=+13. Describe the types of commitment that successors can have vis-à-vis the family firm, and explain how the type of commitment relates to work effort.
=+12. Why do incumbent and successor have such different perceptions about the fair value of the firm?
=+11. Why are next-generation family members from very cohesive families less inclined to join their parent’s firm?
=+10. What makes the succession career path attractive for next-generation family members?
=+9. What questions should the successor address when clarifying goals and priorities for succession?
=+8. What questions should the incumbent address when clarifying goals and priorities for succession?
=+7. In addition to the type of successor, how is intra-family succession different from transferring the firm to employees?
=+6. Describe the differences in viewpoints of incumbent and successor with regard to succession.
=+5. What are the critical abilities an advisor needs to have to professionally advise in the succession context?
=+4. When advising in the succession context, why is it inappropriate to start with topics such the legal setup or tax considerations?
=+3. Will family firms disappear as a consequence of the relatively low interest among nextgeneration family members in taking over the parents’ firm?
=+2. What drives the complexity of the succession process?
=+1. Why is intra-family succession decreasing in many developed countries?
=+5. For what parts of the process do we need help?
=+4. Do we want to engage a single advisor to help us through the succession process, or should each party engage their own advisor?
=+3. How do we both define ‘successful succession’?
=+2. What are our shared goals?
=+1. What are the challenges that we see with regard to succession?
=+9. Have I talked about these considerations with the incumbent?
=+8. How do I define ‘successful succession’?
=+7. Who could support and advise me along the succession process?
Showing 300 - 400
of 1742
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Last
Step by Step Answers
Get 50% OFF
Claim Now
