SMEs, Families and Capital Markets

SMEs, Families and Capital Markets

  • 19 June 2020
  • Stockholm School of Economics in Riga

Click here to download the programme

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

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

Friday, June 19 (Times are shown in EEST (Riga))

11:15
- 12:00

Family Businesses – Performance, Governance and Succession

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Family Businesses – Performance, Governance and Succession

Time:
11:15h
- 12:00h

Speakers

12:40
- 13:40

Lunch

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

Time:
13:40h
- 14:40h

Speakers

Discussants

Conference Documents

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Who Is the Boss? Family Control Without Ownership in Public Traded Japanese Corporations

Time:
14:40h
- 15:40h

Speakers

Vikas Mehrotra

Discussants

Conference Documents

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

Time:
15:40h
- 16:40h

Speakers

Discussants

Conference Documents

16:40
- 16:55

Break

16:55
- 17:45

The European Capital Market Union, SMEs and Family Firms

Speakers:
Tanya Panova
Back to full programme

The European Capital Market Union, SMEs and Family Firms

Time:
16:55h
- 17:45h

Speakers

Tanya Panova

Speakers

Vikas Mehrotra
Tanya Panova

Presentations

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Introduction and Welcome (local time 10:45 EEST)

Time:
10:45h
- 11:00h

Speakers

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Family Businesses – Performance, Governance and Succession

Time:
11:15h
- 12:00h

Speakers

Video: 

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

Back to all presentations

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

Time:
13:40h
- 14:40h

Speakers

Discussants

Conference Documents

Video: 

Who Is the Boss? Family Control Without Ownership in Public Traded Japanese Corporations

Professor
Vikas Mehrotra
Back to all presentations

Who Is the Boss? Family Control Without Ownership in Public Traded Japanese Corporations

Time:
14:40h
- 15:40h

Speakers

Vikas Mehrotra

Discussants

Conference Documents

Video: 

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:
15:40h
- 16:40h

Speakers

Discussants

Conference Documents

Video: 

The European Capital Market Union, SMEs and Family Firms

Tanya Panova
Back to all presentations

The European Capital Market Union, SMEs and Family Firms

Time:
16:55h
- 17:45h

Speakers

Tanya Panova
Back to all presentations

General Discussion, Conclusion and Summing Up

Time:
17:45h
- 17:55h

Speakers

Panel Discussions

Video: 

Panel Discussion: What Can Capital Markets Offer SMEs and Family Businesses?