Since the beginning of the 1990s the shareholder value concept is discussed intensively as being a management concept especially for listed enterprises. In contrast to the immense relevance of small and medium enterprises (SME) for the German economy, value orientation of the management of SMEs...

Identification of three key topics and research gaps in the literature on VBM in Mittelstand -- Framework for the evaluation of the role of VBM in Mittelstand -- Use of management tools in strategic decision-making -- Specific objectives and nuances in the overall target course -- Understanding...