Intergenerational Transfer of Family Firm Control: Discount Expectations of Potential Successors

Building on institutional theory and family sociology literature we explore the logics that underlie the formation of transaction price expectations related to the intergenerational transfer of corporate ownership in private family firms. By probing a sample of 3'487 students with family business background from 20 countries we show that next generation family members expect to receive a 56.58% discount in comparison to some nonfamily buyer (i.e. the family discount) when taking over the parent's firm. We also show that the logic underlying the formation of family discount expectations is characterized by parental altruism, filial reciprocity, filial decency and parental inducement. These norms embrace both the family and market logics and accommodate the duties and demands of children and parents in determining a fair transfer price. These findings are important for institutional theory as well as for family business and entrepreneurial exit literatures.

Testing the expectations hypothesis when interest rates are near integrated /

Mode of access: Internet.

The quality of nonmetropolitan living : evaluations, behaviors, and expectations of northen Michigan residents /

Bibliography: p.261-263.

School climate and expectations : a casebook.

Bibliography: p. 2.

Thoughts on the Scriptural expectations of the Christian church /

Mode of access: Internet.

Observations on man, his frame, his duty, and his expectations : in two parts, to which ae now first added, paryers and religious meditations, by David Hartley. To the first part are prefixed A sketch of the life and character ... of the author.

Mode of access: Internet.

Management relations with disadvantaged work groups : supervisory expectations of the underprivileged worker /

Photocopy. [Washington] : Clearinghouse for Federal Scientific and Technical Information, l970. Each page of the photocopy (most in double columns) represents approximately 2 pages of the original. [167] p. ; 22 x 28 cm.

Survey of aging veterans : a study of the means, resources, and expectations of veterans aged 55 and over /

Item 985

Interior, Main Dining Room of Win Schuler Restaurant [Great Expectations] / Marriott Inn, Ann Arbor

2 scans with same hs #, suffix 1of2, 2of2

Census Bureau programs to measure consumer purchase expectations, 1959-1973 /

Mode of access: Internet.

Federal hiring : testing for entry-level administrative positions falls short of expectations : report to the Chairman, Subcommittee on the Civil Service, Committee on Post Office and Civil Service, House of Representatives /

"B-249943"--P. 1.

Inflation expectations, interest rates and arbitrary income transfers

Unexpected inflation, disinflation or deflation cause arbitrary income transfers between an economy's borrowers and lenders. This redistribution results from distorted real interest rates that are too high when price level changes are over-predicted and too low when they are under-predicted. This article shows that in Australia's case, inflation expectations were mostly biased upwards throughout the 1990s, according to the Melbourne Institute of Applied Economic and Social Research series and to a new derived series based on bond yields, implying that real interest rates were too high over this time. In turn, this caused substantial arbitrary income transfers from debtors to creditors, estimated to have averaged up to 3 per cent of gross domestic product over the period.

Network structures: Working differently and changing expectations

There is a growing need for innovative methods of dealing with complex, social problems. New types of collaborative efforts have emerged as a result of the inability of more traditional bureaucratic hierarchical arrangements such as departmental program, to resolve these problems. Network structures are one such arrangement that Is at the forefront of this movement. Although collaboration through network structures establishes an innovative response to dealing with social issues, there remains an expectation that outcomes and processes are based on traditional ways of working. It is necessary for practitioners and policy makers alike to begin to understand the realities of what can be expected from network structures in order to maximize the benefits of these unique mechanisms.