The paper aims at highlighting the impact of private equity buyouts on family owned firms’ performance. The paper seeks an answer to the following research question: “To what extent are private equity buyouts an efficient solution to family firms’ succession?” To this aim, 32 private equity majority buyouts of family owned firms carried out in Italy between 1995-2003 are examined and the pre and post buyout performances according to four different groups of measures are compared.
Family Business Investor Buyouts: the Italian Case
BUTTIGNON, FABIO;BORTOLUZZI, PAOLO
2004
Abstract
The paper aims at highlighting the impact of private equity buyouts on family owned firms’ performance. The paper seeks an answer to the following research question: “To what extent are private equity buyouts an efficient solution to family firms’ succession?” To this aim, 32 private equity majority buyouts of family owned firms carried out in Italy between 1995-2003 are examined and the pre and post buyout performances according to four different groups of measures are compared.
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