EAN: 9783658163853

FAMILIENUNTERNEHMEN UND KMU CRISIS AND TURNAR...

Thomas Wittig aims at gaining additional insights into the crisis and turnaround process of
SMEs  investigating both  the turnaround success and the impact of turnaround on the family
role in family firms. Based on a specifically developed integrated conceptual turnaround model
the author collected a sample of 209 turnaround cases of German medium-sized companies from
restructuring experts working for German banks. Employing a variety of carefully selected
statistical analyses he identifies key factors for turnaround success and finds specific
archetypes of crises and turnaround. The study concludes with an analysis of the impact of a
successful turnaround on the family firms within his sample. Based on the study's insights he
provides both  recommendations for future research and a set of practical implications for all
relevant stakeholders of a turnaround situation.

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