Corporate Groups

204 Pages·2016·0.74 MB·English

Corporate
Groups
How to Create
Opportunities and Value
for Shareholders
jan chadam
ToKnowPress

CorporateGroups

Corporate Groups
How to Create Opportunities
and Value for Shareholders
Jan Chadam
ToKnowPress
bangkok celje lublin
· ·
CorporateGroups:HowtoCreateOpportunitiesandValueforShareholders
JanChadam
PublishedbyToKnowPress
Bangkok·Celje·Lublin
www.toknowpress.net
2016
Editor-in-Chief
Dr.NadaTrunkŠirca
Editors
Dr.PornthepAnussornnitisarn
Dr.ZbigniewPastuszak
EditorialBoard
Dr.ValerijDermol
Dr.DušanLesjak
Dr.AnnaRakowska
Dr.BordinRassameethes
Dr.PunnameeSachakamol
Dr.AgnieszkaSitko-Lutek
SeniorAdviser
Dr.KongkitiPhusavat
ManagingandProductionEditor
AlenJežovnik
ToKnowPressisaJointImprintof
KasetsartUniversity,50NgamWongWanRd.Ladyao
ChatuchakBangkok10900,Thailand
InternationalSchoolforSocialandBusinessStudies
Mariborskacesta7,3000Celje,Slovenia
MariaCurie-SkłodowskaUniversity
Pl.MariiCurie-Skłodowskiej5,20-031Lublin,Poland
©2016JanChadam
isbn978-83-65020-17-8(printed)
isbn978-83-65020-18-5(pdf)
isbn978-83-65020-19-2(html)
Availableat
www.toknowpress.net/ISBN/978-83-65020-18-5.pdf
www.toknowpress.net/ISBN/978-83-65020-19-2/flipbook.html
Contents
ListofTablesandFigures·7
Preface·9
1 Corporate Groups inGlobal Economy · 13
CorporateGrouporGroupofCompanies·13
BusinessRelationsinCorporateGroups·20
TypesofCorporateGroups·25
OperationalAreas,RelationsandProcessesinCorporateGroups·28
SpecialPurposeVehicleinCorporateGroups·33
SpecialPurposeVehicleFundingStructure
inProjectFinanceFormula·37
2 Synergy inthePerspective ofCompany Owners ·45
TheEssenceofSynergy·45
ResourcesSharingasaDeterminantofSynergy·47
CapitalInvestment:AUniqueInstanceofResourceSharing·52
SynergyFeasibilityintheScopeofActivitiesSharing·56
SynergyPrerequisitesinCorporateGroups·58
SelectedAspectsofValueManagement·62
3 Corporate GroupFormation: Synergy andValue
–KeyAspects·69
CorporateGroupFormationPhases·69
CapitalInvestments–OpportunitiesandThreatstoSynergy·72
IntegrationofCorporateGroups·88
CorporateGroupManagement·104
IdentityManagementinCorporateGroups·111
4 Synergy andValueProspects inCorporate Groups ·117
TypeofValueGrowthinCorporateGroups·117
SynergyEffectsRelatedwithCorporateGroup’s
RevenueGrowth·118
SynergyEffectsRelatedtoanOperatingMargin
inaCorporateGroup·132
SynergyEffectsRelatedtotheAssetsEfficiency·142
5 Role ofIntellectual Capital inValueCreation ·149
Knowledge-BasedEnterprise·149
ClassificationofIntellectualCapitalAssets·152
5
6 Contents
SynergyEffectinIntellectualCapitalResources
withinCorporateGroups·160
SynergyinOrganizationalCulture·180
Conclusions·183
References·189
List of Tables and Figures
Tables
1.1 AdvantagesandDisadvantagesofScenarios
ThatCorporateGroupsEmergewithin·19
1.2 BasicProcessesinCorporateGroups·29
1.3 AncillaryProcessesinCorporateGroups·31
1.4 TypicalRiskClassificationinProjectFinance·41
3.1 ExampleNetSynergyEffectsasaResultofAcquisition·86
3.2 RelationsbetweenProcessesandResources
withinaCorporateGroup·111
5.1 ElementsofCapitalStructureManagementProcess
vs.SynergyBuilding·159
Figures
1.1 FormationofCompaniesasaResultofCapitalOutsourcing·15
1.2 InternalInvestment:EstablishmentofNewCompanies·16
1.3 AcquisitionProcesses(Takeovers)·17
1.4 ClassificationofTypesofCorporateGroupsinTerms
ofBusinessRelations·21
1.5 ExamplesofHorizontalandVerticalIntegration
ofaCorporateGroup·22
1.6 BusinessDiversificationProcessinaCorporateGroup·24
1.7 TypesofCorporateGroupsbyBusinessActivity·26
1.8 InvestmentRiskDiversificationinaCorporateGroup·27
1.9 SynergisticIntegrationofProcesseswithinCorporate
Groups·32
1.10 TraditionalValueChainandRelationswithinCorporate
Groups·32
1.11 SimplifiedProjectFinanceStructurewith spv’s
Participation·34
1.12 DevelopmentStagesofCorporateGroups
Basedon spv Principles·36
1.13 StandardProcedureofContractorAppointment·37
1.14 PotentialSourcesofFinancinginanOptimumProject
Structure·39
1.15 CashFlowinProjectFinanceFormula·40
2.1 CompetitiveAdvantageasaResultofResourceSharing·48
2.2 SynergyImplementationinResourceSharingModel·51
7
8 ListofTablesandFigures
2.3 TheStructureofAssetsoftheParentCompany
asaResultofCapitalInvestment·54
2.4 NetSynergyinCapitalInvestment·55
3.1 StagesofCorporateGroupDevelopmentandValueCreation·70
3.2 DecisionMakingFormulaintheProcessofCorporateGroup
Creation·71
3.3 NatureofSelectedAreasinDiversifiedCompanies·74
3.4 CriticalStagesofAcquisition·76
3.5 ElementsofDueDiligence·77
3.6 TheProcessofaFinalEstimateofCompanyValue·81
3.7 ChangeManagementStagesinIntegrativeProcesses·91
3.8 CorporateCultureConditioning·93
3.9 FunctionalOrganizationofaCompany·105
3.10 Process-BasedOrganizationofaCompany·105
3.11 ProcessesinCorporateGroups·106
3.12 ComplexProcessManagementinaCorporateGroup·107
3.13 BusinessEntitiesandProcessesIntegration
inaCorporateGroup·108
3.14 TheEntiretyofaBusinessProcessManagementRelated
Area·110
4.1 CorporateGroupValueGenerators·118
4.2 SalesSynergyTypesinCorporateGroups·119
4.3 StrategicMarketingProcessesinCorporateGroups·121
4.4 SalesSynergyintheAreaofaGrowingBargainingPower
overClients·125
4.5 StructuredBack-OfficeProcessesinaCorporateGroup·137
4.6 SharedServiceCenterinaCorporateGroup·138
4.7 TypesofTaxSynergyinCorporateGroups·142
5.1 StandardClassificationofIntellectualCapitalAssets·154
5.2 ClassificationofIntellectualCapital·155
5.3 ExtendingCustomerLifeCyclebyCollective
Managementof clv·178
5.4 SynergyEffectofCooperativeResources
inCorporateGroups·179