Changes in corporate governance

This chapter sheds light on changes in selected aspects of corporate governance after buy-outs in family businesses. After a theoretical comparison of corporate governance in family businesses and portfolio companies in section 5.1, expected changes in the selected aspects are derived from the literature in section 5.2. Section 5.3 contains the empirical part of this chapter: Changes in the above mentioned aspects, which were observed in sample companies, are analyzed and discussed, so that propositions on major changes are eventually derived. Section 5.4 closes the chapter with a summary.