SMEs, Families and Capital Markets

SMEs, Families and Capital Markets

  • 19 June 2020
  • Stockholm School of Economics in Riga

*** This Event is by invitation only. ***

Opening address by:

Valdis Dombrovskis, European Commissioner,

Executive Vice-President-designate for An Economy that Works for People

There is increasing evidence of the positive role played by family firms, including both publicly listed and privately owned entities. However, one of the main challenges for family businesses is succession. It is becoming more complex due to changes in family, management and governance systems. Sound governance reduces conflicts of interest, maintains family harmony, and creates value for all stakeholders.

Business transfer is a critical milestone in the life of many family businesses that with the ageing of the population of entrepreneurs becomes even more acute. Additionally, in the Central and Eastern European markets, the first generation of entrepreneurs is nearing retirement, which means that for many firms in these countries the transfer of family business stock happens for the first time.

To address these issues, one of the priorities mentioned in the Entrepreneurship 2020 Action Plan of the European Commission is “easing business transfers”, for example, through reducing cross-border inheritance tax obstacles, improving information and advice services, and other initiatives. Likewise, stock exchanges are attempting to ease obstacles for small and medium-sized enterprises (SMEs), which are predominantly family-owned, to raise capital through public markets. The conference will examine these tendencies. 

Organisers

Prof. Marco Becht, Solvay Brussels School (Brussels) and ECGI

Prof. Anete Pajuste, Stockholm School of Economics (Riga) and ECGI

Contact

Programme queries should be directed to Anete Pajuste (anete.pajuste@sseriga.edu)

Supported by

      

 

Information

Address:
Stockholm School of Economics, Strēlnieku iela 4a, Riga, Latvia
Contact:
Elaine McPartlan
European Corporate Governance Institute

Friday, June 19

10:30

Registration

11:15
- 12:00

Family businesses – Performance, Governance and Succession

Back to full programme

Family businesses – Performance, Governance and Succession

Time:
11:15h
- 12:00h

Speakers

12:40
- 13:40

Lunch

13:40
- 14:45

Shareholder Illiquidity and Firm Behavior: Financial and Real Effects of the Personal Wealth Tax in Private Firms

Speakers:
Janis Berzins
Back to full programme

Shareholder Illiquidity and Firm Behavior: Financial and Real Effects of the Personal Wealth Tax in Private Firms

Time:
13:40h
- 14:45h

Speakers

Janis Berzins

Discussants

14:45
- 15:00

Coffee Break

Back to full programme

Who Is the Boss? Family control without ownership in public traded Japanese Corporations

Time:
15:00h
- 16:05h

Speakers

Vikas Mehrotra

Discussants

16:05
- 16:20

Coffee Break

Back to full programme

Earnings Management around Founder CEO Re-appointments and Successions in Family Firms

Time:
16:20h
- 17:25h

Speakers

Discussants

Speakers

Fellow Research Member Institutional Member Board Member
Janis Berzins
Vikas Mehrotra

Presentations

Back to all presentations

Introduction and Welcome

Time:
10:45h
- 11:00h

Speakers

Back to all presentations

Family businesses – Performance, Governance and Succession

Time:
11:15h
- 12:00h

Speakers

Shareholder Illiquidity and Firm Behavior: Financial and Real Effects of the Personal Wealth Tax in Private Firms

Janis Berzins
Back to all presentations

Shareholder Illiquidity and Firm Behavior: Financial and Real Effects of the Personal Wealth Tax in Private Firms

Time:
13:40h
- 14:45h

Speakers

Janis Berzins

Discussants

Who Is the Boss? Family control without ownership in public traded Japanese Corporations

Vikas Mehrotra
Back to all presentations

Who Is the Boss? Family control without ownership in public traded Japanese Corporations

Time:
15:00h
- 16:05h

Speakers

Vikas Mehrotra

Discussants

Earnings Management around Founder CEO Re-appointments and Successions in Family Firms

Back to all presentations

Earnings Management around Founder CEO Re-appointments and Successions in Family Firms

Time:
16:20h
- 17:25h

Speakers

Discussants

Back to all presentations

General Discussion, Conclusion and Summing Up

Time:
17:25h
- 17:45h

Speakers

Fellow Research Member Institutional Member Board Member

Panel Discussions

Panel discussion: What can capital markets offer SMEs and family businesses?