1,222 research outputs found
Stern-Tee in Qualität unerreicht! S. Steiner, Teegrosshandlung Innsbruck, H. Durst, Prag
No full textSTERN-TEE IN QUALITÄT UNERREICHT! S. STEINER, TEEGROSSHANDLUNG INNSBRUCK, H. DURST, PRAG
Stern-Tee in Qualität unerreicht! S. Steiner, Teegrosshandlung Innsbruck, H. Durst, Prag ( -
The Meaning of Intangible Assets: New Insights into External Company Succession in SMEs
No full textThe Commission of the European Communities (2006) estimates in its report that one third of all EU entrepreneurs will leave within the next ten years. In conjunction with the situation that (1) the majority of Europeans prefer being an employee and (2) the fact that changes in demography will reduce the pool of potential successors over the next decades, this paper argues that external (non-family) successors take on an important role and are in a position to choose the company, which best matches their expectations. A successful company succession depends on a multitude of different aspects. In the case of external succession, certainly the available funds represent a critical point. However, the assumption is that the decision to acquire a company is based on other factors. It is hypothesised that the potential external successor will be interested in those companies offering potential expansions. In view of the increasing relevance of intangible assets within the firm regarding company success, it is suggested that these assets primarily influence the external successor to go further in the succession process. Thus, it is expected that the future perspectives of the company are founded on its inherent intangibles and which in turn justify a financial investment. The aim of this paper is to explore the role of intangible assets as seen from the viewpoints of external successors. The strategy of research behind this paper is the application of a mixed methods approach which is divided into a survey approach and a case study approach (given priority). Within the quantitative stage a web-survey was used to obtain data on the relevance of intangible assets in terms of external company succession in SMEs whilst addressing members of German trade corporations and chambers of commerce. The results of the quantitative study were enhanced through qualitative interviews with ten external successors in SMEs. The data that were gathered explores the role of intangible assets during the successors’ deliberations as to whether or not the company should be acquired. Intangible assets are found to be important features for external successors. Specifically five intangibles can be highlighted which are brand, partner(s), key-employees, knowledge retention, and corporate culture. The critical intangibles were summarised in a conceptual framework. The findings suggest that in the case of external succession, intangible assets have a remarkable influence on the external successor’s decision-making and traditional issues in the view of company succession such as tax, legal and, financial aspects should be extended to include intangible aspects
La baronessa amabile - Don Mus.Ms. 476 : S (2), orch, org; F
No full textBesitzvermerk: "In usum F. Bernardi Durst Roesers Studios. Constantiae ad 1764.". - In der S 1-Stimme zusätzlich der Text "Salve regina" unterlegt. - Vergleiche D DO Mus.Ms. 477Ferdinando GalimbertiQuelle: manuscript. - Provenienz: Fürstlich Fürstenbergische Hofbibliothek, DonaueschingenDuetto â | Canto Primo, Canto Secondo. | Due Violini Con Organo. | Due Oboe: Con Cornu Due in E è La fa: | Ex F: | Del Sg Italiano Galimberti Mediolan: Maitre | de La Chapelle Principal
Durst, A G, 408641
No full textThis record was harvested from a previous catalogue system and will be withdrawn in 2025. Information in this record may be superseded or incomplete. Visit this record in UMA's new catalogue at: https://archives.library.unimelb.edu.au/nodes/view/383081Surname: DURST. Given Name(s) or Initials: A G. Military Service Number or Last Known Location: 408641. Missing, Wounded and Prisoner of War Enquiry Card Index Number: 53229.222728
Item: [2016.0049.15374] "Durst, A G, 408641
Die Zukunft bewerten: Immaterielle Vermögenswerte aktivieren
No full textDie traditionelle Rechnungslegung basiert auf dem
Prinzip der historischen Kosten. Dies hat zur Folge,
dass nur eine geringe Anzahl von immateriellen Vermögenswerten
in den Bilanzen erscheint. Vor dem Hintergrund, dass immaterielle Vermögenswerte als die „heimlichen Treiber“ des zukünftigen Unternehmenserfolgs gesehen werden, ist diese Situation als wenig zufriedenstellend zu bezeichnen. Der vorl egende Beitrag verdeutlicht die Unterschiede zwischen immateriellen und traditionellen Vermögenswerten und
zeigt die damit verbundenen Herausforderungen an
gegenwärtige Rechnungslegungsstandards auf
What makes SMEs attractive to external successors?
No full textPurpose – Taking company succession as an alternative means of embarking on an entrepreneurial activity, the aim of this study is to explore those intangible assets that are regarded as attractive from the viewpoints of external successors. Thereby, the focal point is on the preparation stage in which promising companies are identified and scrutinised.
Design/methodology/approach – The strategy of research behind this paper is the application of a mixed methods approach that is divided into an internet-mediated questionnaire and a series of in
depth interviews (given priority).
Findings – The findings suggest that intangible assets have a notable influence on the intention of an external successor to take over a company. This would suggest that the traditional issues
considered with regard to company succession, such as tax, legal and financial aspects, should be extended to include intangible aspects. The findings are summarized by proposing a framework for the role of intangibles in external succession, thereby highlighting critical intangibles as perceived by
external successors.
Research limitations/implications – This explorative study is by no means exhaustive; however it is regarded as a valuable fundament for further research activities associated with the role of intangible assets in terms of company succession, particularly external succession.
Practical implications – The framework appears to be a valuable tool for understanding the importance of intangibles in external company succession in general and particularly their influence
on external successors’ business acquisition intentions. The findings are particularly considered as helpful for incumbent-owners who plan to sell off their companies.
Originality/value – The study’s findings can be viewed as a new perspective on company succession as it highlights the intangible assets that make a company attractive to external successors.
Given the increasing number of small to medium-sized enterprises waiting to be transferred to new
owners, these findings are highly important as they provide a more holistic view of the dynamics of company succession (and external succession in particular).
Keywords Small to medium-sized enterprises, Intangible assets, Buying behaviour, Acquisitions
Paper type Research pape
The influence of intangible assets on external succession decisions in small and medium-sized enterprises
No full textExternal company succession provides an alternative route into
entrepreneurship. However, due to a strong focus on new ventures, this form of succession would appear to be less in the public eye. This article endeavours to contribute to changing this situation. In doing so, it explores the meaning of intangible assets in company succession from an external successor perspective. Despite the fact that intangibles are supposedly the key drivers of business performance, the connection between intangibles and external company succession in small and medium-sized enterprises (SMEs) has so far been neglected. Our research draws on a quantitative web survey of German trade associations and qualitative interviews with external SME successors. Our
findings suggest that intangible assets have a notable influence on the decision of an external successor to take over a company. This research offers new insights into company succession, specifically with regard to the selection process for potential external successors
The relevance of intangible assets in German SMEs
No full textPurpose – The purpose of this paper is to study the perceptions of the advisors and valuers of German associations regarding the relevance of intangible assets in general, and for the purpose
of company succession in particular.
Design/methodology/approach – To perform this study German associations were examined, which play an essential role in company succession in Germany, from both sides of the process.
Conducting a web-survey, 51 answers were received (response-rate 1⁄4 42.5 per cent) which could be used for the analyses.
Findings – Amongst others, the study showed that intangible assets are of a moderate relevance.
However, a large proportion of respondents expect intangible assets to be of greater relevance in the future. The study highlighted that intangibles do have a great impact on the decision-making process of an investor.
Research limitations/implications – The total population of German Association is 135.
The author received answers from 51 associations, which did not fulfil the statistical size to conduct advanced statistical methods. The specific relationship of German associations with small- to
medium-sized enterprises (SMEs) is rather unique compared to similar institutions around the world, therefore, the results may not be replicable in other countries.
Practical implications – The results of this study will help practitioners as well as academics to better understand the relevance of intangible assets in SMEs.
Originality/value – This paper is pioneering in the analysis of the influence of intangible assets in German SMEs for the purpose of company succession.
Keywords Small to medium-sized enterprises, Intangible assets, Investors, Succession, Germany
Paper type Research pape
Editorial for the Special Issue (Volume 16 Issue 2) on Knowledge Management and Intellectual Capital Measurement Practices in Organizations. What, how and why?
No full text
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