Practical Aspects of Knowledge Risk Management in Corporate Finance for Family Firms

Mark Hill ()
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Mark Hill: KPMG AG Wirtschaftsprüfungsgesellschaft

A chapter in Knowledge Risk Management, 2020, pp 69-85 from Springer

Abstract: Abstract FamilyRisk firmsRisk management showCorporate finance inFamily firms many aspects a different profile compared to (listed) corporates, primarily (a) because of their complex decision-making process that involves owner-managers who might have to consider non-rational decision factors and (b) the lean operational teams for the execution. These differences become of particular interest when looking at corporate financeCorporate finance activities of family firmsFamily firms, where confidentiality and execution speed, as well as the availability of specific and critical knowledge, is key. Therefore, knowledge riskRisk managementRisk management in family firms requires peculiar management attention and must be carefully considered when setting up the finance function of the company. The chapter discusses the broad variety of relevant knowledge risk factors and presents practical examples of critical situations in corporate finance. It proposes a frameworkFramework that is intended to help decision-makers in developing an integrated view on knowledge risk management in corporate finance.

Keywords: Corporate finance; Financing decisions; Financing process; Family firm; (knowledge) risk management matrix (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:spr:mgmchp:978-3-030-35121-2_5

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DOI: 10.1007/978-3-030-35121-2_5

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