|
Abstract:
|
This thesis is written for the Master course in Business Economics and Auditing (Cand.
Merc. Aud.) at Copenhagen Business School.
The object of this thesis is to study and analysis the opportunities and demands for passing on
companies to a new owner. Seen from the current owners point of view.
The thesis consists of a quantitative questionnaire, the aim of this is to find out what owners of
enterprise see as important factors and how they rank the different areas of succession.
The next chapter consists of an analysis of the different models and requirements regarding the
calculation and elements regarding the value of the enterprise. This chapter deals with both
aspects regarding family and 3rd party.
Before undertaking the task of passing on a company to a new owner, the current owners
ownership of the company has to be examined. There are several methods to alter the
construction of the ownership. The different models will be analyzed and discussed.
Next of is an introduction to the most used models regarding succession. These models will be
analyzed and elaborated leading to a ranking within the 6 different areas of succession. The areas
are time, price, risk, taxation, success of the company onwards and costs. Each of the areas will
based on the analysis receive a grade from 1 to 10, based on how good the model are for the
current owner.
An analyses ofthe demands from the current owner on one side, the models that are available
and a discussion off the need for new legislation rounds up the thesis.
The conclusion of this thesis is that the best mix of models to use by the current owner, based on
answers from the questioner and the analysis of the succession models are to form a setup where
the company that is being sold on is owned though a holding construction. The stocks in the
company can after a period of three years, from the taxfree restructuring be sold without tax. |
