Intergenerational Transfer of Family-Run Enterprises in Slovenia in Comparison with German Law

After the Republic of Slovenia declared its independence in 1991 and adopted a new constitution, business in the country began to increasingly develop. Now, 30 years since declaring independence and the start of business development, we are witnessing the retirement of the first generation of business owners, and it is reasonable to expect the rise of such examples in the following years. With the change in generation and retirement of the first generation of business owners, the question arises as to how to legally regulate the transition of family companies to younger generations, with the objective of keeping the company within the family circle and avoiding fragmentation of the company because of a higher number of potential heirs. This article presents information on the transfer of a family company to the next generation with sole traders, personal companies, and companies with share capital in comparison to German law.

21. Share capital—capital raising and payment

This chapter considers the statutory rules governing share capital requirements, especially the rules governing allotment of shares, payment for shares, and capital raising. Share capital rules are predominantly statutory and this chapter looks at the statutory framework on allotment including the authority of the directors to allot shares, the need for rights issues; the ability to accept a non-cash consideration; and the prohibitions on various types of consideration, in the case of public companies. Minimum capital requirements and the need to avoid issuing at a discount are considered. A key issue for public companies is whether to make an offer of their shares to the public or seek to have their shares traded on a public market. The regulatory framework for public offers of shares, essentially requiring a prospectus, is considered.

Gaps and analogies in the formation of registered capital of limited liability and joint-stock companies

The aim of the research is to analyses and, using analogy, to examine exhaustively the areas of legal uncertainty in the mechanism of social capital formation of commercial entities, while at the same time checking the coherence of the statutory analogy and the analogy in law as a universal means of protecting and combating gaps in the business sphere. A combination of general logical methods of analysis and synthesis, induction and deduction, comparison and generalization, characteristic of works dealing with civil law, were applied. At the same time, the analogy method was used as a research tool and as a research tool. The conclusions of the work include the identification of specific gaps in the legal regulation of the procedure, methods, and terms of payment of share capital, the identification of ways to overcome these gaps casually and the formulation of proposals for the legislative updating of the regulatory structure of the share capital of commercial companies.

Pengaruh Earning Per Share, Struktur Modal, Suku Bunga, dan Inflasi Terhadap Harga Saham pada Perusahaan Consumer Goods yang Terdaftar di BEI Tahun 2017-2019

The research we conducted was to determine the effect, analyze, and also get an understanding of whether Earning Per Share, Capital Structure (DER), Interest Rates, and Inflation simultaneously or partially affect Share Prices inCompanies Consumer Goods Listed on the IDX in 2017-2019. The population in this study were 50 companies and there were 60 companies that met the criteria as a sample with a purposive sampling technique. Multiple regression analysis and classical assumption test are the methods researchers use in this research. The results of the F test in this research show that simultaneously Earning Per Share, Capital Structure (DER), Interest Rates, and Inflation have an effect on share prices inCompanies Consumer Goods Listed on the IDX in 2017-2019. In the t test results, the variable Earning Per Share has an influence on the share price ofcompanies consumer goods listed on the IDX in 2017-2019, Capital Structure (DER) has an influence on the share price ofcompanies consumer goods listed on the IDX in 2017-2019, Interest Rates has no influence on the share price ofcompanies consumer goods listed on the IDX in 2017-2019, inflation has no effect on the share price ofcompanies consumer goods listed on the IDX in 2017-2019.

11. Company finance

This chapter considers how companies raise money through a combination of equity and debt finance. It discusses the issuance of shares; share capital; financial assistance by a company for purchase of shares; classes of shares; finance through borrowing; secured loans; registration of charges; priority of charges; remedies of debenture-holders; receivers; position of lenders and debenture-holders; and steps to be taken by a lender to a company.

Board of Directors Decisions And Performance of Deposit Money Banks: An Analytical Approach

The study examines the relationship between Board of Directors Decisions and Performance of Deposit Money Banks: An analytical approach in Nigeria for the period 1990–2018. The study measured Ordinary share capital, Debenture, Investment in subsidiaries, and Loans /advances as proxies for Board of Directors decisions while Return on Equity was used as proxies for Performance of deposit money banks for the said periods under review. In the course of the study, data were obtained from the website of Central Bank Statistical bulletin and annual report of Nigerian Deposit Insurance Corporation (NDIC). The Augmented Dickey Fuller (ADF) test option was used to test for unit root. The ARDL and Bounds test were used to estimate the short and long run relationships. This study found that at short run, the board of director’s decisions on financing and investment decisions has positive relationship with return on equity, but are not significant predictors of return on equity. However, at long run the director’s decisions on financing options i.e. ordinary share capital and debenture, investment in subsidiaries and granting of loans have a long run relationship with return on equity of deposit money banks in Nigeria for the period 1990-2018. Strong credit risk administration/procedures should be religiously followed especially (know your customer) and complied with by credit risk managers in all deposit money banks in Nigeria. Ordinary share capital should be a source of financing at the short run. These were some of the recommendations proffered, to the Government, monetary authorities, Central Bank of Nigeria, researchers and Deposit Money Banks in Nigeria.

Main financial instruments used by petroleum companies

In this article the author considers the key financial instruments used by fuel multinational corporations, which are necessary for financing corporate needs. The structure and dynamics of the share capital of the main players in the domestic oil business market are analyzed. Derivatives are characterized as an essential part of oil trading.

Capital structure and financial sustainability of Microfinance Institutions (MFIs) in Rwanda

The aim of this study was to assess the effect of capital structure on financial sustainability of microfinance institutions (MFIs), and find out the extent to which capital structure affects financial sustainability of MFIs in Rwanda. Data was collected from annual financial reports of MFIs and SACCOs for the period 2014-2018. Due to data availability, only a panel of 20 MFIs and SACCOs was considered using fixed effects OLS regression models. Findings from this study reveal that the use of debt as financing sources adversely affects firms‘ financial self-sufficiency and performance. In contrast, the use of share capital strongly improves firms‘ operational and financial sustainability as well as their return on assets. Using retained earnings moderately and positively increases firm‘s financial sustainability. Results from sample splits show that compared to MFIs, SACCOs are more likely to be adversely affected by debt financing than their MFI counterparts. With respect to share capital, there is significant difference between the two groups. Using share capital to finance MFIs‘ investments significantly increases their return on assets, their operational and financial self-sufficiency. With respect to SACCOs, results show that using share capital as means of financing firms‘ assets negatively and significantly affects their return on total assets as well as their operating and financial self-sufficiency.

MAKING AN IN-KIND CONTRIBUTION TO A LIMITED LIABILITY COMPANY

In this article, the author focuses on the issue of making an in-kind contribution to a limited liability company – both at the time of the company establishment and in the procedure of increasing the share capital. For this purpose, the author reviews the doctrine and judicature positions relating to the concept of contribution capacity and looks for answers to the question whether the limited liability company agreement and the declaration of taking up shares have the binding and disposing effect referred to in art. 155 and art. 510 of the Civil Code, and therefore whether it is necessary to conclude a separate agreement for the transfer of the subject of the contribution to the company for the effective transfer of the in-kind contribution. In his considerations, the author draws attention to the practical dimension of applying the provisions from the point of view of the work of a notary