The role of foundations in family governance

2019 ◽  
Vol 26 (1) ◽  
pp. 4-10
Author(s):  
Dominique Jakob

Abstract Family businesses nowadays face numerous challenges caused by multinational family structures, the interplay of generations and inheritance law. This article deals with the role that foundations can play in safeguarding family governance within family businesses. It explains the various models of how foundations can be used as holding structures for businesses. However, as the force of law is limited, the article then focuses on how to integrate family values into the legal tools and attempts to identify the right questions that have to be addressed in order to successfully combine solid legal structures with sustainable family happiness.

Author(s):  
Ma Asunción López-Arranz

The objective and justification of the chapter focuses on the importance that family businesses in Spain have in the current business environment, which is characterized by great instability. Also in the center of focus is how these family businesses integrate family values with a sustainable business. Innovation, technological advances, market internationalization, quality requirements, and the differentiation of products and/or services, among others, have led to important reflections on how to organize companies, especially family businesses. Nowadays and as a result of the economic crisis, it has been possible to observe a growing creation of family businesses in Spain, which reflects a driving role of business activity in its capacity to undertake and contribute to innovation. Thus, the figures provided by the Institute of Family Business in 2016 show that 90% of Spanish companies are family businesses and contribute about 60% of Spanish GDP and represent 70% of jobs in the private sector as a whole.


2015 ◽  
Vol 21 (6) ◽  
pp. 867-897 ◽  
Author(s):  
Elias Hadjielias ◽  
Panikkos Poutziouris

Purpose – The purpose of this paper is to investigate the conditions underpinning the cooperative relationships between family businesses. The role of trust is also explored, given the focus on informal conditions nested within the cooperation between firms. Design/methodology/approach – A case study research method is adopted in this paper. This research is conducted within a cooperative association in Cyprus where 40 retail family businesses trade under the same brand. Findings – The findings suggest that cooperation between family businesses emerges and unfolds as a result of the presence and interrelationships between a number of critical conditions: trust, altruism, collective thinking, stewardship, friendship, and family values congruence. The work illustrates that trust becomes a catalyst to the emergence and maintenance of cooperative relations between family businesses. Trust between family leaders is important in building altruism, collective thinking, and stewardship norms amongst them, and helps in sustaining the cooperation between their respective firms. At the same time, trust (stemming from past friendship and values congruence between diverse family leaders) becomes important in bringing family businesses to cooperate together at first instance. Further, the findings stress the role of critical events and self-interest in moderating the role and influence of trust on the cooperation between family businesses. Originality/value – This paper contributes to the family business field through new knowledge on the relations between family businesses and the unique conditions that shape their long-term cooperation.


2020 ◽  
Vol 5 (2) ◽  
pp. 197
Author(s):  
Faizatul Fil Ula ◽  
Risma Meliyana ◽  
Rohmatul Ilahiyah ◽  
Mohammad Tohir

Mawaris in the fiqh discourse is commonly referred to as the science of faraidh. Faraidh discusses the issue of inheritance rights (tirkah) to the heirs of the owner who has passed away. One of the problems related to inheritance law is the inheritance rights for a child resulting from adultery and its distribution mathematically. Hence, this study aims to describe the role of mathematics in the distribution of inheritance rights for a child resulting from adultery based on the Islamic law. The research method used is a literature study, documentation, and focused discussion. The subjects in this study are inheritance and Islamic law, while the objects are children of adultery. The results show that: (1) the ability to perform basic operations and mathematical fraction operations plays an active role in the distribution of inheritance rights for a child resulting from adultery; (2) choosing the right problem-solving strategy is very helpful in distributing inheritance rights for a child resulting from adultery; (3) the role of mathematics in the distribution of inheritance rights for a child resulting from adultery can minimize the controversy that often occurs in society; (4) Islamic law has determined that a child resulting from adultery does not fester on the part of the biological father, but on the side of the biological mother even though the one who married the biological mother is the biological father; (5) a child resulting from adultery only gets inherited property from the biological mother, while from the biological father's side, that child only gets obligatory assets; and (6) the decendant’s status falls on the biological father if the child has been born for more than 6 months after the marriage contract between the parents


2017 ◽  
Vol 1 ◽  
pp. 123 ◽  
Author(s):  
Sławomir Godek

The influence of Byzantine law on tutelage in the Russkaya Pravda and th e First Lithuanian StatuteThe article is dedicated to the influence that Byzantine law had on Russian law (with a particular focus on the Russkaya Pravda) and on the First Lithuanian Statute of 1529.The paper analyses the main channels of influence that Byzantine law had on the ancient Russian law. It happened primarily through intensive trading and political contacts between Kiev and the Byzantine Empire. Such contacts, without any doubt, were established as early as the first half of the 10th century. An important factor in the influence Byzantine law exerted on Russian law was constituted by treaties (known as „dogovory”) concluded between these states in the years 907, 911, 944, and 971. The influence of Byzantine law in Rus intensified especially after the Kievan princes adopted Christianity in its Greek tradition in 988. At that time, Byzantine law codes spread across Rus; an important role in their spreading was played by the so-called Kormchie Knigi, which contained the norms of church and secular law. The codes were bound to influence legal practice, especially in the field of family, guardianship and inheritance law, which traditionally lay within the jurisdiction of ecclesiastical courts. At the same time, princes significantly intensified their legislative activity. The acts of the Kievan and Novgorod princes are inspired by the solutions adopted in Greek law, and contain many references to this law. The influence also spread onto the Russkaya Pravda (Russian Justice), especially in its later version. All in all, the influence of Byzantine law in Rus was quite significant, which fostered the development of Russian law. It mostly affected private law and procedural law, but also, to a limited extent, criminal law. In the field of private law, the strongest influence of Greek law was felt in marriage, guardianship and family law.The provisions o f the Russkaya Pravda with respect to guardianship were modeled on the respective regulations of the codes of Byzantine law - the Ecloga and the Procheiron. The Russian code defined the position of the widow in a way reminiscent of Byzantine law - after the husband's death she was the  continuer of the previous family arrangement; her rights to family property (of which she could freely dispose) and relations with children were also defined in a similar manner. Similarities can also be discerned in the regulations on the remarriage of widows, in particular, the legal consequences of this act: remarriage resulted in the loss of the right of custody over children in favor of the husband’s relatives.These provisions of the Russkaya Pravda in the field of guardianship law certainly exerted some influence on the development of the legal institution of guardianship at the time when Russian lands were included into the Lithuanian state. This was reflected in privileges granted to the Lithuanian szlachta (gentry), which reiterated the principles known from the Russkaya Pravda. This, in particular, applies to the privileges that defined the legal position of a widow (privilege of 1447). The same principles also constituted the grounds of verdicts adopted by Grand Duke’s court in cases from the field of guardianship law. With the passage of time, a significant body of experience was gathered, which laid the foundations for the respective provisions of the First Lithuanian Statute. The provisions of the Statute that regulated widows’ guardianship over children (Statute I, VI, 6) show a kinship with the provisions of the Russkaya Pravda and, through it, with the Ecloga and the Procheiron.It seems, therefore, that there was a substantial flow of ideas and readymade legal structures between Byzantine law, based on the principles of the ancient Roman law, and Russian law, whose output was, in its turn, used by the Lithuanian legislature.


2013 ◽  
Author(s):  
Maisy Best ◽  
Tobias Stevens ◽  
Fraser Milton ◽  
Christopher D. Chambers ◽  
Ian P. McLaren ◽  
...  

EDIS ◽  
2013 ◽  
Vol 2013 (11) ◽  
Author(s):  
George Hochmuth ◽  
Laurie Trenholm ◽  
Don Rainey ◽  
Esen Momol ◽  
Claire Lewis ◽  
...  

Proper irrigation management is critical to conserve and protect water resources and to properly manage nutrients in the home landscape. How lawns and landscapes are irrigated directly impacts the natural environment, so landscape maintenance professionals and homeowners must adopt environmentally-friendly approaches to irrigation management. After selecting the right plant for the right place, water is the next critical factor to establish and maintain a healthy lawn and landscape. Fertilization is another important component of lawn and landscape maintenance, and irrigation must be applied correctly, especially following fertilization, to minimize potential nutrient losses. This publication supplements other UF/IFAS Extension publications that also include information on the role of soil and the root zone in irrigation management. This publication is designed to help UF/IFAS Extension county agents prepare materials to directly address nutrient losses from lawns and landscapes caused by inadequate irrigation management practices. This 6-page fact sheet was written by George Hochmuth, Laurie Trenholm, Don Rainey, Esen Momol, Claire Lewis, and Brian Niemann, and published by the UF Department of Soil and Water Science, October 2013. http://edis.ifas.ufl.edu/ss586


2020 ◽  
Vol 1 (1) ◽  
pp. 11-18
Author(s):  
M. A. Rodionov ◽  
I. V. Akimova

In the submitted study the problem of the formation of financial literacy of students at informatics lessons and relevant training of future informatics teachers is considered. Financial literacy is understood as a set of basic knowledge in the field of finance, banking, insurance, as well as budgeting for personal finances that allow a person to choose the right financial product or service, soberly assess and take risks that may arise during the use of these products, correctly accumulate savings and identify doubtful (fraudulent) investment schemes. The authors conclude that successful development of meaningful lines of the course of financial literacy requires integration of a few school subjects, such as mathematics, history, informatics, social science and literature. The role of modern informatics teacher in the formation of financial literacy of students is great. Therefore, in the training of a future informatics teacher, it should be paid the attention to issues related to the study of elements of financial literacy in informatics lessons. In order to solve the problem, the authors propose to use the special course “Basics of work in 1С:Enterprise”, which is implemented at Penza State University. The article contains a program of the course and the methodological recommendations for its implementation.


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