Asymmetric information between outgoing and incoming owner - challenges and possible solutions, exemplified by management buy-ins into family businesses

Despite the increasing relevance of family-external succession in the form of a MBO or MBI, considerable research gaps with regard to these succession options exist. Even though information economics offers a promising perspective to extend our corresponding knowledge, it has not been sufficiently applied in that context. Using information economics would be especially appropriate with regard to an MBI, as the most explicit information asymmetries between incumbent and successor occur there. Thus, we draw on information economics in our article and analyze the different information asymmetries in the context of an MBI in detail. Going one step further, we discuss several possibilities to overcome these asymmetries. This leads to valuable contributions to both research and practice.

Halter, F.; Dehlen, T.; Sieger, P.; Wolter, H.-J. (2013): Informationsasymmetrien zwischen Übergeber und Nachfolger - Herausforderungen und Lösungsmöglichkeiten am Beispiel des Management Buy Ins in Familienunternehmen, in: Zeitschrift für KMU und Entrepreneurship, 1./2. Heft, 61. Jg., Berlin, St. Gallen, Vaduz.

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