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How the Expected Payout from Different Buyer Types Influences a Private Seller's Harvest Strategy.

Record Type:	Language materials, manuscript : Monograph/item
Title/Author:	How the Expected Payout from Different Buyer Types Influences a Private Seller's Harvest Strategy./
Author:	Webb, Edward S.
Description:	1 online resource (100 pages)
Notes:	Source: Dissertations Abstracts International, Volume: 82-08, Section: A.
Contained By:	Dissertations Abstracts International82-08A.
Subject:	Success. -
Online resource:	click for full text (PQDT)
ISBN:	9798569900954

How the Expected Payout from Different Buyer Types Influences a Private Seller's Harvest Strategy.
Webb, Edward S.

How the Expected Payout from Different Buyer Types Influences a Private Seller's Harvest Strategy. - 1 online resource (100 pages)

Source: Dissertations Abstracts International, Volume: 82-08, Section: A.

Thesis (D.B.A.)--Temple University, 2020.

Includes bibliographical references

Demographic forces in the U.S. economy can be expected to have a significant impact on the behavior of small business owners, particularly as it relates to their ownership transitions and exiting from their privately held firms (the development of "harvest" strategies). The ability of business owners to identify entity value and communicate this to the market (market signaling) could be a key determinant in maximizing sellers' payouts at the dispositions of their businesses. Historically, payouts have been maximized through transactions with strategic buyers, who have pre-existing knowledge of the seller's industry or market thereby permitting rapid value accretion for buyers. However, a current unprecedented level of capital available in the private equity market has created a sea of financial buyers who, despite having available capital, may not have the industry or firm specific knowledge which permits the rapid value accretion in an acquisition as it would a strategic buyer. In turn, seller payouts may be suppressed because of selling to financial buyers. The primary focus of this paper is to explore how sellers view the differences between the two types of buyers and the implications for seller payouts. More broadly, it addresses the importance of market signaling and its impact on seller payouts.

Electronic reproduction.
Ann Arbor, Mich. :
ProQuest,
2024

Mode of access: World Wide Web

ISBN: 9798569900954Subjects--Topical Terms:

571577
Success.
Subjects--Index Terms:

Buyer signalingIndex Terms--Genre/Form:

554714
Electronic books.

How the Expected Payout from Different Buyer Types Influences a Private Seller's Harvest Strategy.
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520 $a Demographic forces in the U.S. economy can be expected to have a significant impact on the behavior of small business owners, particularly as it relates to their ownership transitions and exiting from their privately held firms (the development of "harvest" strategies). The ability of business owners to identify entity value and communicate this to the market (market signaling) could be a key determinant in maximizing sellers' payouts at the dispositions of their businesses. Historically, payouts have been maximized through transactions with strategic buyers, who have pre-existing knowledge of the seller's industry or market thereby permitting rapid value accretion for buyers. However, a current unprecedented level of capital available in the private equity market has created a sea of financial buyers who, despite having available capital, may not have the industry or firm specific knowledge which permits the rapid value accretion in an acquisition as it would a strategic buyer. In turn, seller payouts may be suppressed because of selling to financial buyers. The primary focus of this paper is to explore how sellers view the differences between the two types of buyers and the implications for seller payouts. More broadly, it addresses the importance of market signaling and its impact on seller payouts.
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538 $a Mode of access: World Wide Web
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650 4 $a Influence. $3 934855
650 4 $a Interviews. $3 812418
650 4 $a Asymmetry. $3 1437814
650 4 $a Motivation. $3 655186
650 4 $a Purchasing. $3 572672
650 4 $a Knowledge. $3 643484
650 4 $a Qualitative research. $3 562677
650 4 $a Lifestyles. $3 557556
650 4 $a Roles. $3 1471086
650 4 $a Pilot projects. $3 1472319
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653 $a Exit process
653 $a Harvest strategy
653 $a Information asymmetry
653 $a Ownership transition
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