Legal Form of Joint-stock Companies and Corporate Performance in Russia

2007 ◽  
pp. 112-123
Author(s):  
I. Iwasaki

Basing on the results of a Russia-Japan joint enterprise survey conducted in 2005, the paper examines the legal-organizational form of joint-stock companies (JSCs) in Russia. The Federal Law on joint-stock companies stipulates that JSCs should be established in one of the two different legal forms, namely "open" or "closed" companies that provide a unique institutional setting for Russian firms from the viewpoint of their corporate governance. The paper deliberates the determinants of organizational choice between these two legal forms. Then it examines empirical relations between the legal forms of JSCs and their organizational behavior.

2021 ◽  
Vol 10 (1-2) ◽  
pp. 29-46
Author(s):  
Valentina I. Borisova ◽  
Igor V. Borisov ◽  
Farkhad S. Karagussov

Abstract Financial institutions are the centre of economic and legal interests of participants of the financial services market, which is itself characterised by a high level of conflict of interests of its participants. The purpose of the article is the scientific development of the legal structure of organisational and legal forms of financial institutions, in the market of financial services, as a legal mechanism for reconciling the economic and legal interests of the main participants of this market. The features of basic and modified legal forms of legal entities are elaborated in this article. It is determined that financial institutions are established and operate in ‘modified’ legal forms. Such forms emerge due to the supplementation of the structure of the main elements of the basic legal forms of legal entities. This refers to additional functional legal means that reflect special requirements for the relevant types of legal entities, depending on the economic and legal interests of their founders/participants.


2021 ◽  
Vol 12 (4) ◽  
Author(s):  
Novak Tamara ◽  
◽  
Marchenko Svitlana ◽  

The article is devoted to the analysis of some problems of organizational and legal forms of management in the agricultural sector. The main tendencies of development of organizational and legal forms of Ukraine in the aspect of deregulation of entrepreneurial activity and opening of the market of agricultural lands are determined. The role and significance, types, legislative and doctrinal approaches to determining the organizational and legal form of agricultural production are highlighted. On the basis of the analysis of legal literature, national legislation and practice of its application the problems of separate organizational and legal forms of conducting agricultural production (farms, collective agricultural enterprises, etc.) are analyzed. It is concluded that the principle of equality of ownership and management in agriculture is violated in Ukraine. Keywords: organizational and legal forms, business entities, agricultural production, agricultural sector, farms, collective agricultural enterprise


Author(s):  
Kristína Gendová ◽  
Marcela Chrenková

The social economy provides participation of local actors in territorial development and local collective economic activity in order to increase quality of life of the population. This sector is highly diversified, in terms of legal form, size of enterprises, sectors and impact. After 1990, the concept of multifunctional agriculture began to be implemented in the EU, according to which agriculture should fulfill, among others, a social and cultural-social function. To a greater or lesser extent, agriculture had a social function in the past. This role is currently extended and supported by the concept of social agriculture. The aim of the paper is to examine the scope of social entrepreneurship and agriculture as a part of the social economy and its legal forms and types in European countries. The main sources of data for the preparation of the paper were the European Commission's country reports entitled Social Enterprises and Their Ecosystems in Europe (2020) and OECD analytical materials. Main result of the research is the finding that the diversity of the social economy, based on the historical background of its development in individual countries, is extensive. Legal forms are regionally specific. The cooperative form is the most widespread legal form of the social economy. There are specific types of cooperatives in countries. Cooperatives are located more in the countryside (associations and foundations are relevant for the urban environment). Social agriculture widely operates in the cooperative form.


2000 ◽  
Vol 22 (1) ◽  
pp. 38-55 ◽  
Author(s):  
Thomas C. Omer ◽  
George A. Plesko ◽  
Marjorie K. Shelley

This study investigates the influence of TRA86, pre-TRA86 tax strategies, and firm characteristics on S conversions in the natural resource industry. TRA86 shifted substantial individual tax costs to corporations, inviting conversions, but also lowered corporate marginal tax rates and changed aspects of the built-in gain provision to reduce conversion benefits. Built-in gain changes affect industries differently because of differences in asset composition and economic conditions. The natural resource industry had substantial built-in gain potential and was consolidating and restructuring during the mid-80s, making built-in gain realization likely. Our results suggest that built-in gains negatively influenced conversions in the natural resource industry. This study enhances our understanding of the interaction between TRA86 rate changes and other provisions on incentives to convert from C to S corporate status. It also contributes to the organizational form literature by identifying factors related to TRA86, S corporation operating restrictions, firm characteristics, and tax strategies that influence conversion decisions.


2008 ◽  
pp. 1028-1035
Author(s):  
Iwan von Wartburg ◽  
Thorsten Teichert ◽  
Katja Rost

Practice, that is, the execution of work relevant tasks, can take two forms: actual and espoused practice (Brown & Duguid, 1991). Espoused practice is formally and deliberately planned: formal organizational structuring, product manuals, error detection, and correction procedures represent just a few examples. Actual practice represents the solutions to problems and the execution of tasks as they really happened in a given context. Processes of knowledge generation and transfer are different for espoused or actual practice (Orr, 1996). While traditional modes of organizing work practice focus on espoused practice, newer organizational forms focus on actual practice: Communities of practice are groups of people bound together by shared expertise and passion for a joint enterprise on behalf of an organization (Wenger, 1998). To support effective work practices in an ever more distributed work environments, collocated CoPs are complemented by virtual communities of practice (VCoPs). Its members interact supported by collaborative technologies in order to bridge time and/or geographical distances. Toolkits of computer-mediated environments facilitate community building in addition to personal interaction (Hinds & Kiesler, 2002; Walther, 1995; Wellman et al., 1996). There is a shared understanding that VCoPs are an especially effective organizational form for knowledge creation both within companies (Kogut & Metiu, 2001; Nahapiet & Ghoshal, 1998; von Krogh, Spaeth & Lakhani, 2003) and between companies (Constant, 1987; Vincenti, 1990). Therefore, VCoPs are managerially desirable forms of virtual communities (Rheingold, 1993; Smith & Kollock, 1999; Wellman et al., 1996) in which learning in practice takes place; that is, professionals stick together because of exposure to common problems in the execution of real work. The “glue” which binds them together is a powerful mixture of shared expertise and experience, as well as the need to know what each other knows. Given that VCoPs offer such potential to enhance intellectual capital and to enrich social processes within companies, we look more closely at the social and knowledge generation processes within VCoPs from a managerial point of view. Viewed from this angle, VCoPs represent a difficult challenge for managers who want to profit from using them as an arena for desirable learning in practice. Although VCoPs are believed to be a desirable organizational form for knowledge generation, they are preferably modeled as a rather emergent phenomenon and believed to be only marginally manageable. Thus, on one hand, managers are urged to believe that VCoPs are something beneficial while, at the same time, they are told that VCoPs cannot be managed deliberately.


2016 ◽  
Vol 0 (0) ◽  
Author(s):  
Oscar Gutiérrez ◽  
Pedro Ortín-Ángel

AbstractEntrepreneurship has been considered a way to implement interpersonal authority, i. e., to convince other persons to use their resources in an alternative way to the optimal one in accordance with their beliefs. This paper presents a theoretical model that relates the above assumption with the following two questions: (i) how and why financial constraints can prevent the implementation of entrepreneurial projects; and (ii) how creditors’ priorities provided by the different legal forms of the business can reduce the financial requirements for implementing the firm. The attractiveness of such an explanation lies in its capacity to justify a wide array of features of firms (entrepreneur origin, property rights, authority, financial constraints and creditor priorities) from a single basic assumption: agents have different beliefs about how production should be organized.


2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Lucas Reisch

PurposeThis study examines, in a European context, whether a management-induced International Financial Reporting Standards (IFRS) accounting strategy is affected by national culture. It analyses the association between management's accounting strategy and Hofstede's cultural dimensions of individualism and uncertainty avoidance, as well as institutional and firm-specific factors.Design/methodology/approachUsing hand-collected accounting decisions from 301 annual reports of firms from 14 European countries in 2017, a model is developed to identify two ordinally scaled accounting strategy variables, each representing the aggregated effect of the decisions on earnings and equity ratio. Afterwards, the effect of the cultural dimensions on these accounting-strategy variables is analysed by an ordered logistic regression.FindingsThe results do not support an association between management's accounting strategy and national culture, complementing the previous critical literature on values-based theories of culture. However, there is evidence that national legal enforcement, disclosure requirements and firm size explain differences in management's accounting strategy across countries.Research limitations/implicationsUsing the cultural value dimensions of the Global Leadership and Organizational Behavior Effectiveness (GLOBE) project, the findings are robust and stable. However, the study is limited to a European data set and the sample year.Practical implicationsThis study contributes to the discussion on the transparency and comparability of IFRS accounting. The results imply that these issues are not affected by cultural differences but rather by differences in institutional and firm-specific factors. In order to bring about improvements, regulators should establish a uniform institutional setting, while the standard setter should reduce the number of implicit and explicit accounting choices embodied in the IFRS.Originality/valueThe paper advances the understanding of cultural influences on management's IFRS accounting behaviour by providing an alternative to the existing accruals approach.


2016 ◽  
Vol 5 (3) ◽  
pp. 26-31
Author(s):  
Лебедев ◽  
V. Lebedev

The article considers the stages of development of human resources policy, carried out the analysis of the amendments made to the Labour Code of the Russian Federation, of the professional standards; considers the main provisions of the federal laws “On the independent evaluation of the qualification”, “On Amendments to Part Two of the Tax Code of the Russian Federation in connection with adoption of the Federal Law” On the independent evaluation of the qualification”, “On Making Amendments to the Labor Code of Russian Federation in connection with adoption of the Federal law “On the independent evaluation of the qualification”, that shall enter into force on 1 January 2017. The author offers to specify the legislator proposed initiatives, in particular on the organizational and legal forms and requirements to the personal composition of the evaluation centers.


2021 ◽  
Vol 9 (1) ◽  
pp. 96-117
Author(s):  
Pavlo Krainii

Today, the existence of every society and every state is marked with the presence of generally accepted phenomena that radically distinguish the legal status of an individual from his ancestors, who lived hundreds or even thousands of years ago. These phenomena are: democracy, legal society, human rights, good governance, participatory democracy, etc. The study of legal relations between an individual or a group of individuals and the state, represented by the system of government in one form or another, has been carried out by a large number of well-known legal scholars, sociologists, political scientists, and economists, all of whom offered numerous theoretical concepts, represented different scientific schools, and worked in various fields of research. The basic issue they have been trying to solve both in the past and at present is how an individual citizen or a group of individuals can influence the decision-making processes of public authorities that affect the interests of each of them. It turned out that the institutions we are aware of (like those of political parties, public organizations, unions) are not the only legal forms of association of the country citizens who seek to exercise public power and represent the interests of certain groups of their compatriots. The active changes that took place in the world after the Second World War, as well as the emergence of the third generation of human rights were a logical continuation of the growing influence of liberal ideas and views, which proved the existence of new scientific alternatives, ideas and concepts for developing the theory of deliberative democracy. The latter’s main objective was the idea of citizens’ active involvement in decision-making by the authorities and local governments, which consequently led to the phenomenon of public-private partnership. The article under discussion contains a legal analysis of the institution of public councils as one of the legal forms of such interaction through the theory of communicative action. At the same time, the paper will contain an attempt to analyze the current Ukrainian legislation that determines and regulates the legal status of public councils. This will enable to draw conclusions about the level of involvement of citizens in the decision-making process. In addition, the article will lay particular emphasis on a study of the already established and existing public councils in Ukraine, as well as will identify the positive and negative aspects of their activities, which will help to work out the problematic aspects of their legal status and offer practical ways to eliminate them.


Author(s):  
Daniela Staicu

AbstractIn Central and Eastern European countries, the transition to a market economy stimulated civil society initiatives that in the past had been either discouraged or had become part of the Communist state system, and opened new pathways to entrepreneurial initiatives. The 1990s was an open window to the creation of a significant number of non-profit organizations, including the pioneering establishment of the first social enterprises. When these countries became members of the European Union, the process of legal institutionalization of social enterprises started to be discussed and has taken place at various stages. The purpose of this paper is to provide a comprehensive overview of the policy frameworks and the legal forms and of social enterprises in eight countries: Bulgaria, Croatia, the Czech Republic, Hungary, Poland, Romania, Slovakia, and Slovenia. The research seeks to determine the extent to which the development of national policy frameworks influences the development of legal forms under which social enterprises operate. For the purpose of this analysis, data were collected from relevant to this subject country reports, studies, laws released between 2009 and 2016. The research shows that European social enterprises are often ‘hidden’ among existing legal forms either as associations and foundations with commercial activities, cooperatives serving general or collective interests and mainstream enterprises pursuing an explicit and primary social aim. Further research needs to be done to determine the potential for growth of entities operating as associations and foundations with commercial activities. Furthermore, the research concluded that the countries with specific laws on social entrepreneurship generate 61 % of the social economy activity in Central and Eastern European countries. Further research needs to be done to determine if introducing a social enterprise specific legal form, will stimulate the development of the business models under which social enterprises operate and implicitly growth.


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