scholarly journals All in the Family or Public? Law and Appropriative Costs as Determinants of Ownership Structure

2003 ◽  
Author(s):  
Ramon Castillo ◽  
Stergios Skaperdas
Keyword(s):  
Ownership Structure ◽  
Public Law ◽  
The Family

Legal problems of the paternity institution: Child's rights ensuring issues

2020 ◽  
pp. 267-286
Author(s):  
Mikhail A. Gussev ◽  
Yessil S. Rakhmetov ◽  
Aliya K. Berdibayeva ◽  
Ainash Yessekeyeva
Keyword(s):  
Human Rights ◽  
Gender Identity ◽  
Family Law ◽  
Public Law ◽  
Practical Significance ◽  
Social Constructs ◽  
Social Forms ◽  
Rights Of The Child ◽  
Legal Problems ◽  
The Family

The aim of the article is to analyze the paternity as a component of the institution of the family, its modern transformations and the resulting challenges, including modern features of parenthood. The authors show that the modern understanding of paternity is determined by gender identity and social constructs that equalize the rights of all persons who act as guardians of the child. The authors determine that the problem of paternity involves not only civil issues, but also family and in-ternational law. The authors of the article clearly show that paternity can act not only as a voluntary, conscious act, but also as a mandatory legal norm. In particu-lar, the authors note that it is possible to use the method of establishing paternity or delegating part of the authority to raise a child in the context of considering public law and its prevalence over family law. The practical significance of the study is determined by the fact that the importance of establishing the principles, as well as the legal conditions for implementing the functions of paternity, will form not only legal but also social forms and even economic parameters for citi-zens and address issues of ensuring human rights, including the rights of the child.

Is family ownership of a firm associated with the control of managerial discretion and corporate decisions?

2016 ◽  
Vol 6 (1) ◽  
Author(s):  
Jennifer Martinez Ferrero ◽  
Lázaro Rodríguez-Ariza ◽  
Manuel Bermejo-Sánchez
Keyword(s):  
Ownership Structure ◽  
Design Methodology ◽  
Family Firms ◽  
Managerial Discretion ◽  
Family Ownership ◽  
Managerial Decisions ◽  
Corporate Decisions ◽  
Type Design ◽  
The Family ◽  
The Impact

Purpose This paper considers the association between family firms and managerial discretion, hypothesising that a higher degree of family ownership may decrease the conflict of interest between owners and managers, thus avoiding the risk of discretionary actions by the latter. Design/methodology/approach Our empirical analysis is based on a large sample of international listed companies from 20 countries including the Special Administrative Region of Hong Kong and covers the period 2002–2010. Methodologically, we use a logit model with marginal effects on the panel data. Findings Our analysis shows that family ownership is associated with greater control and monitoring of managerial decisions, thus avoiding information asymmetries and, therefore, the risk of discretionary actions. In other words, family owners impose a stronger discipline and dissuade non-family managers from using managerial discretion to act in their own interest. Finally, we clarify the inconclusive results reported previously about the effects of family ownership on discretionary practices. Originality/value Our paper contributes to the family firm literature by providing evidence of the impact of ownership structure on the level of discretionay practices. Furthermore, we explore the differences between family and non-family firms as each group has its own varied characteristics. Moreover, in contrast to most previous studies, which have focused on only one country, we extend the analysis to include an international sample of 20 countries. This leads to potentially more powerful and generalizable results.

scholarly journals Reducing Recurrent Care Proceedings: Building a Local Evidence Base in England

Societies ◽  
2020 ◽  
Vol 10 (4) ◽  
pp. 88
Author(s):  
Pamela Cox ◽  
Susan McPherson ◽  
Claire Mason ◽  
Mary Ryan ◽  
Vanessa Baxter
Keyword(s):  
Evidence Base ◽  
Public Law ◽  
Evaluation Framework ◽  
Birth Parents ◽  
Local Evidence ◽  
The Family ◽  
Local Areas ◽  
Emergent Community ◽  
Long Acting ◽  
Recurrent Set

Recent studies of public law care proceedings within the family justice system in England and Wales suggest that up to a quarter of all mothers who appear in such proceedings will reappear within a subsequent—or recurrent—set of such proceedings within seven years. In the last decade, new interdisciplinary research spanning social work, clinical psychology and sociology has defined and investigated the previously hidden challenge and social costs of ‘recurrent care proceedings’ (RCP). This article adds to this new field by analysing the core values, practice and impact of three different local services in the northwest of England working with birth parents to reduce the risk of recurrent proceedings. The article combines data gathered from the three distinct services using a common evaluation framework co-produced by the authors working with service leads, practitioners and users. It explores how all three services are seeking to reduce the risk of recurrent care proceedings in their local areas without requiring women to use long acting reversible contraception (LARC) or other forms of contraception as a condition of accessing the service. It concludes that insights gained from these and cognate services can inform an emergent community of practice in the recurrent care field.

Client Acceptance and Engagement Pricing following Auditor Resignations in Family Firms

2016 ◽  
Vol 35 (4) ◽  
pp. 137-158 ◽  
Author(s):  
Samer Khalil ◽  
Mohamad Mazboudi
Keyword(s):  
Ownership Structure ◽  
Family Firms ◽  
Audit Fees ◽  
Audit Pricing ◽  
Pricing Decisions ◽  
Big 4 ◽  
Professional Manager ◽  
Financial Restatements ◽  
The Family ◽  
Client Acceptance

SUMMARY This paper investigates whether auditors' client acceptance and pricing decisions following the resignation of the incumbent auditor in family firms are significantly different from those in non-family firms. Relying on the auditing literature (client acceptance and audit pricing) and using insights from the agency theory, we document that successor auditors incorporate a firm's ownership structure into their acceptance and pricing decisions following the resignation of the incumbent auditor. Big 4 auditors are more likely to serve as successor auditors following auditor resignations in family firms as opposed to non-family firms. The changes in audit fees following auditor resignations in family firms, however, are significantly smaller than those in non-family firms. These results hold when we account for whether a family firm is managed by a founder, a descendant, or by a professional manager, and when we use the percentage of shares held by the family members as another proxy for family ownership. Additional analysis further demonstrates that the likelihood of financial restatements in family firms in the post-resignation period are significantly lower than those in non-family firms. Overall, our findings suggest that Big 4 auditors perceive family firms from which the incumbent auditors resigned as being less risky than their non-family counterparts.

Ownership and Operating Performance of Spanish Family IPO Firms

2020 ◽  
pp. 210-233
Author(s):  
Fuencisla Martínez Lobato ◽  
C. José García Martín ◽  
José Emilio Farinós Viñas
Keyword(s):  
Empirical Evidence ◽  
Initial Public Offering ◽  
Ownership Structure ◽  
Family Firms ◽  
Operating Performance ◽  
Operational Performance ◽  
The Family ◽  
Spanish Family ◽  
Public Offering ◽  
A Company

Previous studies have shown the existence of a relationship between the ownership structure of a company and its operational performance. In this context, the empirical evidence reveals that after an initial public offering (IPO), companies experience a decline in their operational performance. In this research, the authors investigate whether the characteristics of Spanish family firms led to a different operating behavior with respect to non-family companies when they go public through an IPO. The results show that the particularities of the family firm do not turn into significant differences in operational performance after the listing process.

Dr. Eduard Lasker – sein Stammbaum und Familienumfeld: Ein genealogischer Beitrag zur deutsch-jüdischen Geschichte

2006 ◽  
Vol 58 (4) ◽  
pp. 337-356
Author(s):  
Richard W. Dill
Keyword(s):  
New York ◽  
The United States ◽  
Public Law ◽  
Business And Society ◽  
Liberal Party ◽  
Considerable Part ◽  
The Family ◽  
Legal Structures ◽  
The Common ◽  
Otto Von Bismarck

AbstractOn the basis of recently (re)discovered documents, the paper discusses the family tree of the Jewish Lasker dynasty, originating from Lask in Poland, formerly Prussia. The common forefather of all Laskers was Rabbi Meier Hindels, who lived around 1700. In Germany, the most successful of his descendants was Dr. Eduard Lasker (1829-1884). He was a lawyer, co-founder of the National Liberal party, and in his lifetime the most conspicuous parliamentary opponent to Reich Chancellor Otto von Bismarck. Germany owes him a considerable part of its present day legal structures in criminal, civil and public law. His younger brother Moritz/Morris (1840-1916) settled in Texas and became a prominent figure both in business and society. The Lasker family branch that he established in the United States is still flourishing today and has produced a number of personalities of public renown. While visiting his brother, Eduard Lasker died in New York in January 1884. Edward Lasker (1885-1981), a prominent US-based chess champion, descended from another family branch. One of his nieces, Anita Wallfisch-Lasker, wrote an autobiography that describes her ordeal as a member of the camp orchestra at Auschwitz.

scholarly journals OWNERSHIP STRUCTURES, INVESTORS CONFIDENCE AND FINANCIAL DECISIONS IN FAMILY FIRMS: EVIDENCE FROM GCC MARKETS

2018 ◽  
Vol 14 (1) ◽  
pp. 52-68
Author(s):  
Muhammad Sadiq Shahid ◽  
Keyword(s):  
Ownership Structure ◽  
Family Firms ◽  
Stock Exchange ◽  
Annual Reports ◽  
Stock Exchanges ◽  
Investment Funds ◽  
Financial Decisions ◽  
Ownership Structures ◽  
The Family ◽  
The Impact

The objective of this study is to examine the impact of financial decisions on the ownership structure. This study adopted two themes of ownership structure (e.g., 25% & 50%) that categorized the family-owned firms (FOF) and non-family firms (NFOF). The data was collected from 286 firms listed at GCC stock exchanges annual reports, stock exchange database, and Data Stream that range from 2010-2016 periods. The findings of this study showed that the FOFs have lesser investment-internal fund sensitivity than NFOFs. Though, there is an insignificant effect of the block holder on investment funds sensitivity. However, the little implication of dividend payout in FOFs as compare to NFOFs was disclosed in the results. Moreover, it wrapped up that there are less agency problems and information asymmetry in FOFs comparatively.

scholarly journals The Role of Political Connections and Family Ownership in Increasing Firm Value

2021 ◽  
Vol 10 (1) ◽  
pp. 40-53
Author(s):  
Momon ◽  
Lela Nurlaela Wati ◽  
Sutar
Keyword(s):  
Empirical Evidence ◽  
Ownership Structure ◽  
Firm Value ◽  
Business Environment ◽  
Political Connections ◽  
Family Ownership ◽  
Governance Mechanism ◽  
Manufacturing Companies ◽  
The Family ◽  
A Company

In the face of business competition, a company strategy is needed by seeking and exploiting opportunities in the business environment, one of which is through political connections. Ownership structure plays an essential role in the company to determine the firm performance. The high concentration of family ownership has the power to reduce agency conflicts between management and stakeholders in a company. Concentrated ownership can serve as corporate governance mechanism for better and effective monitoring of management. This study was conducted to determine empirical evidence of the effect of political connections and family ownership structure on firm value. The sample in this study was 390 data of the manufacturing company. The data analysis used is moderating regression analysis. The results of this study are a positive influence of political connections and family ownership structure on firm value. The results showed that the more the company had a strong political connection and was controlled by the family, the more the firm value would increase. The interaction of political connections can strengthen the influence of family ownership on firm value. It proves that the family ownership structure plays a role in determining political connections in Indonesia, especially in manufacturing companies. The existence of empirical evidence that shows that the firm value controlled by a politically connected family is higher than companies that are not connected politically, which implies investors to invest in companies that are politically connected and companies controlled by families with majority ownership because it is proven to increase firm value.

scholarly journals Family business: comparison with non-family, key differences and features of operation

2021 ◽  
Vol 71 (4) ◽  
pp. 140-150
Author(s):  
Yu. Solonenko
Keyword(s):  
Family Business ◽  
Ownership Structure ◽  
Social Systems ◽  
The United States ◽  
Local Communities ◽  
Family Businesses ◽  
The State ◽  
Family Enterprises ◽  
Moderate Growth ◽  
The Family

One of the traditional methods of the investigation of family business, as the most common and sustainable form of management in the world, is its comparison with the activities of non-family businesses. This approach makes it possible` to introduce into the analysis a fairly large list of indicators, which in turn increases the understanding of the functioning of both family and non-family companies. In this paper the investigation of family enterprises is carried out on the basis of developments of leading foreign scientists and the table is formed. Thus, the invesstigation demonstrates significant differences between family and non-family business, which are reflected in the general indicators, structural organization, forms of ownership, management, theoretical justification of doing business, business goals, available resources of the firm. Differences in both interior and exterior of the operation of these business facilities are defined. In general, the family business is socially oriented, aimed at stable moderate growth, resilient in times of crisis, adaptive, risk-averse, aimed at the long-term perspective of existence in order to pass it on to the next family generation. Analyzing the social systems of economically successful countries, such as the United States, Japan, the European Union, the Persian Gulf and East Asia, we find that the main form of ownership belongs to the family business. More detailed analysis of the economic systems of these countries reveals the formation of the balance between the ownership structure and the power structure. The ownership structure is characterized by large percentage of independent private owners, where the family form of ownership is widely represented in the leading sectors of the economy, and the family business itself is the dominant form of entrepreneurship. It is the family business that configures the property system within a single country, forming powerful social stratum of independent owners who control the main resources of the state. The presence of this layer results in the evolution of power democracy, where state institutions do not have declarative powers, but operate in real formal democracy. The level of real democracy (democracy) in the country is determined not by freedom-loving articles of the Constitution, but by the number of independent owners in the state. Family businesses and independent family owners are closely linked to local communities, are an integral part of them, providing jobs and employment in the regions, which is the basis for economic prosperity of local communities and the country as a whole.

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