A Quantitative Assessment of the Net Wealth Tax: The Spanish Experience

2021 ◽  
Author(s):  
José M Durán-Cabré ◽  
Alejandro Esteller Moré
Keyword(s):  
Quantitative Analysis ◽  
Family Business ◽  
Quantitative Assessment ◽  
Technological Innovations ◽  
Jel Codes ◽  
Tax Exemptions ◽  
The Family ◽  
Wealth Tax ◽  
The Common ◽  
And Control

Abstract There is growing debate, both social and academic, about the possibility of levying an annual net wealth tax. Until a few years ago, such a proposal appeared difficult to both implement and control, but recent technological innovations, which could greatly facilitate the periodic valuation of wealth, combined with improvements in international tax information sharing could make a “modern wealth tax” possible. Nonetheless, a number of challenges regarding its design still need to be addressed. Taking advantage of the Spanish experience—the only EU country to levy a wealth tax—we undertake a quantitative analysis of various key legal elements of the current tax (exemptions and the common income and wealth tax ceiling) by means of a tax simulator we have developed; we also analyze its redistributive power. Our results show that the family business exemption and the common ceilings are highly regressive. We also assess the effectiveness of alternative reforms with more comprehensive tax bases (JEL codes: H24, H23, and D31).

scholarly journals Organization of Rural Microbusinesses Under Specific Family Owners Conditions

2015 ◽  
Vol 7 (3) ◽  
pp. 156-166 ◽  
Author(s):  
Maylis Sposito
Keyword(s):  
Family Business ◽  
The Self ◽  
Professional Lives ◽  
Research Project ◽  
The People ◽  
The Family ◽  
Swiss Jura ◽  
The Common ◽  
Professional Independence ◽  
Socioeconomic Consequences

Abstract The Interreg IV-A research project aims at analysing the socioeconomic consequences of disruptive situations in microbusinesses of the rural French-Swiss Jura region. Several researchers are focusing on this topic within the various institutions involved in the project2. I will rather focus on the common characteristics of microbusinesses on either side of the border. These similarities pertain to the overlapping of the family and business spheres, which often involves an overlapping of statuses, and to the gender relations induced by this overlapping, as well as to the precarious economic situation of these small structures. This article aims at putting into perspective the typology originated by all the biographical interviews collected. This typology compares the figure of the family business heir to that of the self-taught entrepreneur. Such a difference in achieving professional independence brings about strategic patterns of separation/fusion between private and professional lives, patterns which are specific to each above-mentioned ideal type. This typology is yet to be refined, but it already draws attention to the strategies developed by players to separate - or not - family and business spheres. Thus, by tackling the issue of disruption through this typology of company managers, the article will show various influential elements in the event of a disruption, both on the viability of the company and on the personal itinerary of the people involved.

Adaptation, Survival, and Growth of the Family Business: An Integrated Systems Perspective

1988 ◽  
Vol 1 (1) ◽  
pp. 69-84 ◽  
Author(s):  
Peter Davis ◽  
Douglas Stern
Keyword(s):  
Family Business ◽  
Family System ◽  
The United States ◽  
Integrated Systems ◽  
Corporate Development ◽  
Systems Perspective ◽  
Professional Management ◽  
The Family ◽  
Survival And Growth ◽  
And Control

Family ownership and control are still significant in the majority of business enterprises in the United States. A high percentage of these companies face special problems particularly related to corporate development and transition from an entrepreneurial to a professional management structure. In this paper, we describe a set of processes and mechanisms that define and regulate the interaction between the business and family system.

An heir for a business at Kurniawan security: a mere baton passing?

2015 ◽  
Vol 5 (5) ◽  
pp. 1-9
Author(s):  
Yeoh Khar Kheng ◽  
Sethela June ◽  
Shaik Dawood Raja Mohamed
Keyword(s):  
Family Business ◽  
Succession Planning ◽  
Subject Area ◽  
Content Type ◽  
Graduate Degrees ◽  
Security Services ◽  
The Family ◽  
The Common ◽  
Common Problems

Subject area Family business Study level/applicability This case study is relevant for undergraduate and post-graduate degrees, specifically in the field of entrepreneurship. This case can be applied in the family business and entrepreneurship module. Case overview This case highlights the issue of succession planning in a family business. It describes the problem faced by the founder of a security service company, Kurniawan Security Services Sdn Bhd., in handing over his business to his sons. The case depicts the occurrence of conflicts as one of the common problems in running a family business which, in the end, may affect the perpetuity of the business concerns. Expected learning outcomes Upon completion of the case analysis, students should be able to explain the concept of entrepreneurship in the context of a family business, discuss the issue of succession planning commonly associated with running a family business, analyse critically the nature of conflicts that may occur in a family business and suggest how the problem(s) can be attempted to be solved from within the business management perspectives. Supplementary materials Teaching notes are available for educators only. Please contact your library to gain login details or email [email protected] to request teaching notes.

Limits to psychological ownership in the family business

2018 ◽  
Vol 8 (2) ◽  
pp. 196-216 ◽  
Author(s):  
Wouter Broekaert ◽  
Bart Henssen ◽  
Johan Lambrecht ◽  
Koenraad Debackere ◽  
Petra Andries
Keyword(s):  
Family Business ◽  
Family Firms ◽  
Strategic Decision ◽  
Psychological Ownership ◽  
Operational Control ◽  
Negative Effects ◽  
Additional Insight ◽  
Content Type ◽  
The Family ◽  
And Control

Purpose The purpose of this paper is to analyze how the sense of control, psychological ownership and motivation of both family owners and non-family managers in family firms are interrelated. This paper analyzes the limits set by family owners when delegating control to their non-family managers and the resulting potential for conflict and demotivation of the non-family managers. Design/methodology/approach Building on the existing literature, first, an overview of the literature on psychological ownership and control is presented. Second, the paper analyzes the insights gained from interviews with 15 family owners and non-family managers in five family firms. Findings This study finds that motivating non-family managers is not merely a matter of promoting a sense of psychological ownership throughout the company. A strong sense of psychological ownership may facilitate but also hinder the cooperation between family and non-family. Family owners are often only willing to delegate operational control, while non-family managers also feel entitled to participate in strategic decision making. This leads to the proposition that non-family managers’ psychological ownership in family firms’ conflicts with family owners’ desire to maintain control. Originality/value This study answers the calls to seek additional insight in how non-family managers function within family firms. By shedding light on the complex relationship between control, psychological ownership and motivation in family firms, the study responds to the calls for more empirical validation of the psychological ownership framework and for more research into the potential negative effects of psychological ownership in the family business.

scholarly journals Towards the construct of paternalism to investigate control in family business governance

2013 ◽  
Vol 10 (4) ◽  
pp. 317-328
Author(s):  
Mariavittoria Cicellin ◽  
Donata Mussolino ◽  
Marcello Martinez ◽  
Mario Pezzillo Iacono
Keyword(s):  
Family Business ◽  
Family Firms ◽  
Research Field ◽  
Business Research ◽  
Starting Point ◽  
The Family ◽  
Research Stream ◽  
And Control ◽  
Succession Processes ◽  
Conceptual Work

The aim of this study is to adopt the construct of paternalism to understand control in family business governance. In particular, we want to investigate the concept of paternalism as mechanism of control in family firms. The theoretical reflections we here present first try to challenge the main theories used in family business literature, with a discussion about their limitations and boundaries of validity. Then, we present the construct of paternalism as a mechanism of governance and control that influences the decision making process, and in particular the succession processes. The construct of paternalism still needs sound methodological as well conceptual work, but we argue that it may be a starting point for building a rigorous and relevant research stream. This endeavour may help the family business research field to gain legitimacy in the broader academic arena.

scholarly journals Arboreal Metaphors and the Divine Body Traditions in the Apocalypse of Abraham

2009 ◽  
Vol 102 (4) ◽  
pp. 439-451
Author(s):  
Andrei Orlov
Keyword(s):  
Family Business ◽  
Early Years ◽  
Gold Silver ◽  
The Family ◽  
Human Figure ◽  
Main Plot ◽  
The Common ◽  
Divine Body ◽  
Common Era ◽  
The Temple

The first eight chapters of the Apocalypse of Abraham, a Jewish pseudepigraphon preserved solely in its Slavonic translation, deal with the early years of the hero of the faith in the house of his father Terah.1 The main plot of this section of the text revolves around the family business of manufacturing idols. Terah and his sons are portrayed as craftsmen carving religious figures out of wood, stone, gold, silver, brass, and iron. The zeal with which the family pursues its idolatrous craft suggests that the text does not view the household of Terah as just another family workshop producing religious artifacts for sale. Although the sacerdotal status of Abraham's family remains clouded in rather obscure imagery, the authors of the Slavonic apocalypse seem to envision the members of Terah's household as cultic servants whose “house” serves as a metaphor for the sanctuary polluted by idolatrous worship. From the very first lines of the apocalypse the reader learns that Abraham and Terah are involved in sacrificial rituals in temples.2 The aggadic section of the text, which narrates Terah's and Abraham's interactions with the “statues,” culminates in the destruction of the “house” along with its idols in a fire sent by God. It is possible that the Apocalypse of Abraham, which was written in the first centuries of the Common Era,3 when Jewish communities were facing a wide array of challenges including the loss of the Temple, is drawing here on familiar metaphors derived from the Book of Ezekiel, which construes idolatry as the main reason for the destruction of the terrestrial sanctuary. Like Ezekiel, the hero of the Slavonic apocalypse is allowed to behold the true place of worship, the heavenly shrine associated with the divine throne. Yet despite the fact that the Book of Ezekiel plays a significant role in shaping the Abrahamic pseudepigraphon,4 there is a curious difference between the two visionary accounts. While in Ezekiel the false idols of the perished temple are contrasted with the true form of the deity enthroned on the divine chariot, the Apocalypse of Abraham denies its hero a vision of the anthropomorphic Glory of God. When in the second part of the apocalypse Abraham travels to the upper heaven to behold the throne of God, evoking the classic Ezekielian description, he does not see any divine form on the chariot. Scholars have noted that while they preserve some features of Ezekiel's angelology, the authors of the Slavonic apocalypse appear to be carefully avoiding the anthropomorphic description of the divine Kavod, substituting references to the divine Voice.5 The common interpretation is that the Apocalypse of Abraham deliberately seeks “to exclude all reference to the human figure mentioned in Ezekiel 1.”6

Families Divided: Culture and Control in Small Family Business

2003 ◽  
Vol 24 (9) ◽  
pp. 1463-1485 ◽  
Author(s):  
Susan Ainsworth ◽  
Julie Wolfram Cox
Keyword(s):  
Family Business ◽  
Organizational Control ◽  
Business Research ◽  
Organization Studies ◽  
Small Family ◽  
The Family ◽  
Local Contexts ◽  
Interpretative Approach ◽  
And Control ◽  
Shared Understandings

In this article, we explore the dynamics of control, compliance and resistance using two case studies where ‘family’ has symbolic, material and ideological significance. While the ‘family’ metaphor is often invoked to suggest a normative unity and integration in large organizations, we investigate the use of shared understandings of divisions (Parker 1995) and difference, as well as unity and similarity, in constituting organizational culture in two small family-owned firms. Diverging from mainstream family business research, we adopt a critical and interpretative approach that incorporates employee perspectives and explores how forms of control and resistance need to be understood in relation to their local contexts. We also argue that organization studies could benefit from revisiting progressive assumptions that equate developments in forms of organization with forms of organizational control.

scholarly journals Understanding Governance Mechanisms in Small and Medium Family Firms in Latin America

2021 ◽  
Vol 14 (2) ◽  
pp. 107-120
Author(s):  
Isabel Botero ◽  
Fernando Sandoval Arzaga ◽  
Brøndsted Bullock
Keyword(s):  
Latin America ◽  
Financial Performance ◽  
Latin American ◽  
Family Business ◽  
Family Firms ◽  
Governance Mechanisms ◽  
Family Governance ◽  
The Family ◽  
And Control ◽  
Formal Business

Governance mechanisms help manage, direct, and control people, resources, and the interests of those involved in a firm. In family firms, understanding the use of governance mechanisms is particularly important given their rela-tionship with the sustainability of the family and the business. Even though we know a great deal about family business governance in North America and Europe, we still know very little regarding the use of governance mechanisms in small and medium (SME) family firms in Latin America, nor do we know whether the use of governance mech-anisms impacts financial performance. To address these gaps, this paper presents the results of a survey completed by 2287 representatives of family business SMEs from 24 Latin American countries. Participants indicated the like-lihood of their using different governance mechanisms and responded to questions concerning their businesses. Our results indicate that the small and medium Latin American family firms in our study were not very likely to use formal business and family governance mechanisms, however, the use of formal business governance mechanisms was related to financial performance. The implications of these results for research and practice are discussed.

scholarly journals La empresa familiar y la sociedad legal de gananciales y su sucesión

2011 ◽  
pp. 71
Author(s):  
Carlos Miguélez del Río
Keyword(s):  
Family Business ◽  
Specific Study ◽  
Family Enterprise ◽  
The Family ◽  
The Common ◽  
Specific Regulation ◽  
Economic Regime

Este trabajo hace referencia a la problemática derivada de la existencia de la empresa familiar y a las características específicas de las explotaciones familiares, especialmente las de asegurar la conservación y continuación de la misma. Ante la falta de una regulación específica en la materia, estudiaremos la normativa común sobre la empresa familiar dentro del régimen económico del matrimonio y la sucesión de la misma. Con esta finalidad examinaremos las nuevas reformas introducidas en nuestro ordenamiento jurídico contemplando la empresa familiar, tanto como bien ganancial, como privativo, como integrada por bienes privativos y gananciales, así como en cuanto a sus beneficios y pérdidas y los efectos que en ella produce la liquidación de la sociedad ganancial. Efectuaremos también un estudio específico del protocolo familiar y de las formas de sucesión de la empresa familiar, con mención concreta al novedoso contenido del art. 1056 del Cc y a las facultades de mejora de hijos o descendientes, para concluir con las notas más importantes de los pactos sucesorios y su trascendencia jurídica.<br /><br /><br />His work refers to the problematics derived from the existence of the family business and to the specific characteristics of the familiar developments, specially them of assuring the conservation and continuation of the same one. Before the lack of a specific regulation in the matter, we will study the common regulation on the family business inside the economic regime of the marriage and the succession of the same one. With this purpose we will examine the new reforms got in our juridical classification contemplating the family business, so much as profit good, since exclusively, since integrated by exclusive and profit goods, as well as for his benefits and losses and the effects that in her there produces the liquidation of the profit company. We will effect also a specific study of the familiar protocol and of the forms of succession of the family enterprise, with mention it makes concrete to the new content of the art. 1056 of the Cc and to the powers of improvement of children or descendants, to conclude with the most important notes of the successor agreements and his juridical transcendency.<br />

scholarly journals MERCHANTS AND NOBLES LUGININS: THREE GENERATIONS OF THE ZLATOUST FACTORIES OWNERS OF THE SECOND HALF OF THE 18TH CENTURY

2021 ◽  
Vol 72 (3) ◽  
pp. 91-98
Author(s):  
Elena S. Bochkareva ◽  
Keyword(s):  
Family Business ◽  
18Th Century ◽  
Personal Control ◽  
Three Generations ◽  
Factory Owner ◽  
Constant Control ◽  
The Family ◽  
History Of ◽  
Life Circumstances ◽  
And Control

The article presents the history of the ownership of Zlatoust mining plants by three generations of the Luginin family. It shows direct dependence of the dynamics of ownership and inheritance of plants on the vicissitudes of the family history. It is established that the founder of the Zlatoust factory farm, L. I. Luginin, relied in his business activities on the help of his son Maxim, who took over the management and control of a new part of the family business — the Ural factories in 1769. M. L. Luginin died in the middle of 1770s and L. I. Luginin was left without an assistant and a trained heir. The grandchildren of the factory owner, due to the life circumstances associated with their new noble status, character traits and age, failed to adopt the grandfather’s experience and did not become an equivalent replacement for their father. After the death of the founder, during the period of guardianship management of the factories, the middle grandson, Larion Maksimovich, showed interest in the factories, but he also died before he had been in the factories for two years. The transfer of ownership of the district to the most unworthy of the heirs, I. M. Luginin, eventually led to the exit of the estate from the possession of the family. Zlatoust factories, located far from the rest of the family’s possessions, required constant control of the owner, his participation in the management. In this case, the succession should have been manifested in the active participation of the heirs in the management of the district, personal control over the execution of orders. It is concluded that the succession of generations of the family is of great importance in the early stages of the organization of the business, when the personal control of the owner is a significant factor in the preservation of the business in the hands of the family.

Sign in / Sign up

Export Citation Format

Share Document