October 2026
Intermediate
256 pages
10h 2m
English
Content preview from Family Business Dynamics in Unpredictable Contexts
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Chapter 9 Translating Legacy into Cash Flows: Brand Carve-Outs and Brand-Backed Financing as a Bridge between Family Identity, Succession, and Resilience
Giuseppe Sorrentino
Mario Situm
Helmut Pernsteiner
Abstract
Family firms face a fundamental dilemma in generational succession: departing heirs must be compensated financially without jeopardizing ongoing operations or relinquishing family control. At the same time, what is often the most valuable asset – the brand – remains invisible on the balance sheet due to legal prohibitions on the capitalization of internally generated intangible assets (Sec. 248(2) sent. 2 German HGB; IAS 38.63; Sec. 197(2) Austrian UGB) and is rarely leveraged as a structuring instrument in the succession process. ...
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