Merging Family-Owned Businesses: an Application of Internalization Theory
Autor(a) principal: | |
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Data de Publicação: | 2021 |
Tipo de documento: | Dissertação |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10400.26/39231 |
Resumo: | Family-owned businesses represent one of the pillars of modern economy. In Portugal, they represent more than 50% of all existing companies according to a study conducted by KPMG (2019). Governance of a number of family-owned businesses can be challenging. This project addresses the process of merging three enterprises owned by one family, presently with different managers at the head of each branch, focusing on value creation arising from the merger. In order to do so a financial assessment tool is employed to assess the tangible benefits of the merger. Internalization theory is used as a theoretical background for the merger of domestic businesses, which is a novel approach. A merger, although it may be demanding presents an opportunity to internalize competencies and capabilities otherwise dispersed across businesses and so provide the reshuffling of the internal organizational design, namely in what concern governance, as well as the interface with external economic agents. Our results suggest that the intended merger creates value paving the way for its completion. This project features a natural experiment and should interest the family owners, as it proves that the intended merger will deliver tangible benefits. It contributes to academic knowledge, as it is an opportunity to test in a practical setting Hennart’s (2019) internalization theory intended to international business at its inception. |
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Merging Family-Owned Businesses: an Application of Internalization TheoryFamily-BusinessesInternalization TheoryMergerAgency Costskb GovernanceDomínio/Área Científica::Ciências Sociais::Economia e GestãoFamily-owned businesses represent one of the pillars of modern economy. In Portugal, they represent more than 50% of all existing companies according to a study conducted by KPMG (2019). Governance of a number of family-owned businesses can be challenging. This project addresses the process of merging three enterprises owned by one family, presently with different managers at the head of each branch, focusing on value creation arising from the merger. In order to do so a financial assessment tool is employed to assess the tangible benefits of the merger. Internalization theory is used as a theoretical background for the merger of domestic businesses, which is a novel approach. A merger, although it may be demanding presents an opportunity to internalize competencies and capabilities otherwise dispersed across businesses and so provide the reshuffling of the internal organizational design, namely in what concern governance, as well as the interface with external economic agents. Our results suggest that the intended merger creates value paving the way for its completion. This project features a natural experiment and should interest the family owners, as it proves that the intended merger will deliver tangible benefits. It contributes to academic knowledge, as it is an opportunity to test in a practical setting Hennart’s (2019) internalization theory intended to international business at its inception.Pinheiro, CarlosRepositório ComumPerez, Juan Andrés de Oliveira2022-02-07T15:43:33Z2021-12-102021-12-10T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10400.26/39231TID:202930173enginfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-11-23T14:31:56Zoai:comum.rcaap.pt:10400.26/39231Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T23:19:25.882472Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Merging Family-Owned Businesses: an Application of Internalization Theory |
title |
Merging Family-Owned Businesses: an Application of Internalization Theory |
spellingShingle |
Merging Family-Owned Businesses: an Application of Internalization Theory Perez, Juan Andrés de Oliveira Family-Businesses Internalization Theory Merger Agency Costs kb Governance Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
title_short |
Merging Family-Owned Businesses: an Application of Internalization Theory |
title_full |
Merging Family-Owned Businesses: an Application of Internalization Theory |
title_fullStr |
Merging Family-Owned Businesses: an Application of Internalization Theory |
title_full_unstemmed |
Merging Family-Owned Businesses: an Application of Internalization Theory |
title_sort |
Merging Family-Owned Businesses: an Application of Internalization Theory |
author |
Perez, Juan Andrés de Oliveira |
author_facet |
Perez, Juan Andrés de Oliveira |
author_role |
author |
dc.contributor.none.fl_str_mv |
Pinheiro, Carlos Repositório Comum |
dc.contributor.author.fl_str_mv |
Perez, Juan Andrés de Oliveira |
dc.subject.por.fl_str_mv |
Family-Businesses Internalization Theory Merger Agency Costs kb Governance Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
topic |
Family-Businesses Internalization Theory Merger Agency Costs kb Governance Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
description |
Family-owned businesses represent one of the pillars of modern economy. In Portugal, they represent more than 50% of all existing companies according to a study conducted by KPMG (2019). Governance of a number of family-owned businesses can be challenging. This project addresses the process of merging three enterprises owned by one family, presently with different managers at the head of each branch, focusing on value creation arising from the merger. In order to do so a financial assessment tool is employed to assess the tangible benefits of the merger. Internalization theory is used as a theoretical background for the merger of domestic businesses, which is a novel approach. A merger, although it may be demanding presents an opportunity to internalize competencies and capabilities otherwise dispersed across businesses and so provide the reshuffling of the internal organizational design, namely in what concern governance, as well as the interface with external economic agents. Our results suggest that the intended merger creates value paving the way for its completion. This project features a natural experiment and should interest the family owners, as it proves that the intended merger will deliver tangible benefits. It contributes to academic knowledge, as it is an opportunity to test in a practical setting Hennart’s (2019) internalization theory intended to international business at its inception. |
publishDate |
2021 |
dc.date.none.fl_str_mv |
2021-12-10 2021-12-10T00:00:00Z 2022-02-07T15:43:33Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/masterThesis |
format |
masterThesis |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10400.26/39231 TID:202930173 |
url |
http://hdl.handle.net/10400.26/39231 |
identifier_str_mv |
TID:202930173 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
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info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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RCAAP |
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RCAAP |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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