The aim of this study is to examine the relationship between successor characteristics, transfer planning characteristics and post-transfer profitability within Dutch SMEs. On the one hand, based on the resource dependency view, it is assumed that successors with more knowledge and experience, derived from work experience from outside the target firm, will be able to extract higher rents from the firm than those with less (diverse) work experience. On the other hand, based on the knowledge management literature, and in particular, concepts such as tacit knowledge, this research makes the contrasting prediction that posttransfer profitability is likely to be higher in firms where the successor is an insider and is related to the predecessor. Moreover, this paper proposes, based on the theory of planned behaviour, that written plan and strategic intent have a positive association with post-transfer profitability. The study is based on quantitative analysis of a random sample of Dutch SMEs. Initial results from the current study suggest that determinants of post-transfer profitability may be quite different in the family-to-family ownership vs. nonfamily ownership transfer conditions (i.e. whether or not the successor is related to the predecessor). Significant interaction effect is found such that the effect of strategic planning, in particular, varies depending on the nature of the transfer relationship (family to family, vs family to nonfamily). Other results offer mixed support for the proposed theories.
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In this study we test if successors timing of the acquisition and his actions account for better firm performance. We surveyed 500 Dutch SME successors two to six years after their acquisition. With ANOVA we tested successors timing (declining, average and increasing economical growth) and actions taken (organizational change, innovation, extending markets, no change). All tested actions improve post transfer performance compared to no action taken. Firms acquired in declining economical conditions perform best. No interaction effects are found between timing and actions suggesting that actions are beneficial to performance in any macro economical condition.
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Risk assessment plays an important role in forensic mental health care. The way the conclusions of those risk assessments are communicated varies considerably across instruments. In an effort to make them more comparable, Hanson, R. K., Bourgon, G., McGrath, R., Kroner, D. D., Amora, D. A., Thomas, S. S., & Tavarez, L. P. [2017. A five-level risk and needs system: Maximizing assessment results in corrections through the development of a common language. The Council of State Governments Justice Center. https:// csgjusticecenter.org/wp-content/uploads/2017/01/A-Five-Level-Risk-and-Needs-system_Report.pdf] developed the Five-Level Risk and Needs System, placing the conclusions of different instruments along five theoretically meaningful levels. The current study explores a Five-Level Risk and Needs system for violent recidivism to which the numerical codings of the HCR-20 Version 2 and its successor, the HCR-20V3 are calibrated, using a combined sample from six previous studies for the HCR-20 Version 2 (n = 411 males with a violent index offence) and a pilot sample for the HCR-20V3 (n = 66 males with a violent index offence). Baselines for the five levels were defined by a combination of theoretical (e.g. expert meetings) and empirical (e.g. literature review) considerations. The calibration of the HCR-20 Version 2 was able to detect four levels, from a combined level I/II to an adjusted level V. The provisional calibration of the HCR-20V3 showed a substantial overlap with the HCR-20 Version 2, with each level boundary having a 2-point difference. Implications for practice and future research are discussed.
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The main purpose of this dissertation is to identify the factors that explain success and failure in SME business transfers. Three key concepts have been defined in the research framework: firm resources, capabilities (of predecessor and successor) and (successor’s) strategic renewal. Altogether these three key concepts serve as predictors for the transfer outcomes: exit choice, transfer duration, obtained price, satisfaction and the post-transfer firm performance. Testing reveals that both firm resources and owner capabilities are of importance for exit choice. Results indicate further that especially “acquisition experience” and “years of ownership” predict the exit choice in well performing firms. In poorly performing firms, firm resources prevail as the predictors for exit choice. Most consistently, owner capabilities like “familiarity with the successor” and “flexibility” and not firm resources predict success during a transfer. The firm resource “succession planning” predicts only the level of satisfaction with the transfer. Regarding owner capabilities, a distinction is made between generic and specific human capital. Results indicate the importance of specific human capital (owner competencies and experience) rather than generic human capital (level of education). All types of renewal (i.e. product/market innovation, organizational change or a combination of the two) after succession show better post-transfer firm performance compared to no changes in the first two years.
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Different types of strategic renewal by the successor are identified: organizational change, innovation, combined actions and no action. The main assumption is that renewal after succession improves SME post-transfer performance compared to no actions taken. Also successor’s timing of the takeover is observed, looking at the economic conditions in the year of ownership transfer: decline, average or growing conditions. The hypotheses are tested on a random stratified sample of 333 Dutch firms. Univariate analysis of variance (ANOVA) and complementary T-tests show that organizational change, product/market innovation and combined actions all increase post-transfer performance compared to no renewal. Strategic renewal pays off in any economic period, but mostly so in periods of economic decline. The control variable firm size is a significant predictor: the smaller the firm the better the post-transfer performance.
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In deze openbare les geef ik in vogelvlucht een overzicht van recente kennis, onderzoek en (inter)nationaal beleid op het gebied van bedrijfsoverdracht. In hoofdstuk 1 baken ik het domein en de theorieen af en formuleer ik een onderzoeksagenda. In hoofdstuk 2 ga ik in op het belang van bedrijfsoverdrachten voor nationale economieen in Europa en op een kader voor beleid bij bedrijfsoverdrachten. Hoofdstuk 3 bespreekt het profiel van overnemers en opvolgers in vergelijking tot starters en de effecten van hun profiel op de bedrijfsresultaten. In hoofdstuk 4 zet ik de aandachtspunten voor de 'body of practice' uiteen, waaronder het gebruik van de Opvolgingsscan, een instrument waarmee ondernemers kunnen zien hoe zij ervoor staan in de aanloop naar verkoop van het bedrijf.
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Dit artikel is met toestemming overgenomen uit Microniek, 2020, nr 5 Robotics research groups around the world are using Robot Operating System (ROS)to develop their prototypes quickly. While the first version of ROS was aimed primarilyat the R&D community, its successor, ROS 2, has been redesigned completely to beindustrial grade and applicable in research, prototyping, deployment and production.This allows ROS 2 prototypes to evolve into products suitable for real-worldapplications. To explore the state of the art, Saxion University of Applied Sciencesand nine companies are developing an industrial mobile robot. This article describesexperiences from the development process and presents an outlook on the potentialof ROS 2 for industry.
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Every year I talk to many entrepreneurs about business transfers and acquisitions. Only rarely do they tell me that it was a cinch. Buying or selling a business is complex. For a start, a business should be shipshape from an organizational and administrative perspective, while several legal and fiscal matters also affect the transaction. Moreover, many parties are involved in a business transfer: the buyer and the seller, of course, but also the employees, the spouse and/or family of the entrepreneur, the customers and suppliers. Emotions and trust also play a central role in selling a firm. Many owner/managers find it hard to abandon their business. The fact that a transaction of fixed assets may also be involved is another complicating factor. Is it a good thing to include fixed assets in the sale, or in fact the reverse? Considering that most people find it quite hard to sell their own house, engaging an estate agent to do it for them, it is understandable that buying and selling a business is a transaction fraught with difficulties.
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Letting go of the firm or “my baby” as some entrepreneurs describe their creation, leads to a certain amount of stress (Rahim 1996, Kets de Vries 1999). Dealing with stress in singular events as the transfer of a business, is hardly been subject of research (Uy et al. 2012). Improving coping strategies in business transfers for the incumbent could be of importance as statistics indicate the continued aging of owners in the European Union. Expanding the possibilities of incumbents to sell their business and move on to their next phase in their life would help to offset such negative effects to each national economy. The number of failed business transfers of viable SMEs now threatens innovative driven European economies (European Commission 2003, Van Teeffelen 2010, Stone et al. 2004). A recent study calculated that the Dutch economy suffers 20,000 unnecessary SME liquidations and approximately 10,000 failed successions per annum, with a projected economic damage of 80,000 jobs, a loss of turnover of almost € 4 billion and a destruction of assets of about € 2 billion yearly (Van Teeffelen 2012). Therefore we believe that coping strategies and psychological barriers in business transfers deserve more academic attention. Our aim is to check and add items to the list of psychological barriers and finally to relate barriers to coping styles. Therefore we engaged in a qualitative study that seeks to explain a particular issue and allows the researcher to study issues in depth and produces detailed data on a small number of individuals (Hyde 2000).
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By combining different disciplines such as entrepreneurship, psychology, and business administration, this paper provides insights into the decision-making process involved in the succession of agricultural family businesses. It offers an overview of how choices and decisions are influenced among all actors involved in the process, including the incumbent, successor, non-succeeding family members, and both informal and formal advisors. This overview creates practical insights to support a more successful business succession process. Decision-making in business succession is influenced by several factors such as business systems and culture, as well as mutual relationships, personality traits, behavioral patterns, and habits of those involved. Communication and trust, between both succeeding and incumbent family members, are important aspects that can lead to a successful process. When family relationships are strong, there is a better chance that the social-emotional aspects of business succession do not become a bottleneck. Financial, tax and legal issues can often be resolved if the social-emotional foundation is solid.
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