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Opening address by:
Valdis Dombrovskis, Executive Vice-President of European Commission
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 examined 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
Friday, June 19 (Times are shown in EEST (Riga))
Introduction and Welcome (local time 10:45 EEST)
Speakers:
Opening Address
Speakers:
Opening Address
Speakers
Family Businesses – Performance, Governance and Succession
Speakers:
Family Businesses – Performance, Governance and Succession
Speakers
Panel Discussion: What Can Capital Markets Offer SMEs and Family Businesses?
Panelists:
Panel Discussion: What Can Capital Markets Offer SMEs and Family Businesses?
Ivars Bergmanis: Presentation slides
Panelists
Lunch
Shareholder Illiquidity and Firm Behavior: Financial and Real Effects of the Personal Wealth Tax in Private Firms
Speakers:
Discussant:
Shareholder Illiquidity and Firm Behavior: Financial and Real Effects of the Personal Wealth Tax in Private Firms
Speakers
Discussants
Conference Documents
Who Is the Boss? Family Control Without Ownership in Public Traded Japanese Corporations
Speakers:
Discussant:
Who Is the Boss? Family Control Without Ownership in Public Traded Japanese Corporations
Speakers
Discussants
Conference Documents
Earnings Management around Founder CEO Re-appointments and Successions in Family Firms
Speakers:
Discussant:
Earnings Management around Founder CEO Re-appointments and Successions in Family Firms
Speakers
Discussants
Conference Documents
Break
The European Capital Market Union, SMEs and Family Firms
Speakers:
The European Capital Market Union, SMEs and Family Firms
Speakers
General Discussion, Conclusion and Summing Up
Speakers:
Speakers
Presentations
Introduction and Welcome (local time 10:45 EEST)
Speakers
Opening Address
Speakers
Family Businesses – Performance, Governance and Succession
Speakers
Shareholder Illiquidity and Firm Behavior: Financial and Real Effects of the Personal Wealth Tax in Private Firms
Speakers
Discussants
Conference Documents
Who Is the Boss? Family Control Without Ownership in Public Traded Japanese Corporations
Speakers
Discussants
Conference Documents
Earnings Management around Founder CEO Re-appointments and Successions in Family Firms
Speakers
Discussants
Conference Documents
The European Capital Market Union, SMEs and Family Firms
Speakers
General Discussion, Conclusion and Summing Up
Speakers
Panel Discussions
Panel Discussion: What Can Capital Markets Offer SMEs and Family Businesses?
Ivars Bergmanis: Presentation slides