Download or read book Domination of Family Owned Corporations and Problems of Corporate Governance in Emerging Markets written by Dr. Malik Muhammad Hafeez and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Good corporate governance contributes to sustainable economic development by enhancing the performance of the companies and increasing their access to outside capital. The experiences of the developed countries reveal that good corporate governance can reduce risk, stimulate performance, improve access to capital markets, enhance the marketability of goods and services, improve leadership, increase the value of the corporations, enable the corporations to acquire external finances easily at a lower cost. The dispersed ownership and separation between ownership and control resulted corporate governance problems including agency cost in developed and emerging economies. The good corporate governance practices and concentration of share ownership in the baskets of a group of institutions gave them monitoring responsibility to the corporate issues in the western financial markets. However, the corporate governance problems including managerial opportunism still exist in developing economies, where family owned enterprises control their stock markets. The developing and emerging economies are constantly confronted with issues such as the lack of property rights, the abuse of minority shareholders and contract violations. For a strong impact of corporate governance measures on the economy, a set of democratic norms, market institutions and effective legal system should be set up. Over the past decade reforms in corporate governance driven by events such as the 1997 Asian financial crisis, major corporate scandals (such as Enron and WorldCom) and the globalization of capital markets have become an important global policy agenda. Economic development requires a modern, transparent corporate governance infrastructure based on efficient capital markets. This paper evaluates the possible monitoring role of company's creditors and auditors, arguing that a well-developed corporate governance structure, including accounting infrastructure and creditors vigilance, would promote long-term corporate stability and economic prosperity.

Download or read book Understanding Family Owned Business Groups written by Manlio Del Giudice and published by Springer. This book was released on 2017-03-09 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book addresses the increasing prominence of family-owned business groups and their potential to influence growth and development in the global economy. Family businesses are not necessarily converging towards unitary models of corporate governance or organizational designs, but remain heterogeneous in a global economy. Empirical evidence on the developmental effects of family-owned business groups is fragmented and inconclusive: are there tangible differences between family-owned business groups in emerging economies and developed countries? Are there important variations across and between industries? How have geopolitical circumstances shaped their activities? In this book, the author seeks alternative, pluralistic, and cross-disciplinary approaches through economic, management, and organizational perspectives. This book provides readers with a core understanding of how both corporate governance and business strategy are shaped by the institutional frameworks of markets, as well as knowledge into how institutional context shapes the governance and strategies of family business groups. It is an invaluable reference tool for scholars and students in the social sciences, as well as professionals involved in strategic management issues within a knowledge management context.

Download or read book Family Business Governance written by Keanon J. Alderson and published by Business Expert Press. This book was released on 2019-04-15 with total page 205 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents research-based information to provide the reader a deeper understanding of the complex nature of family owned businesses, their problems and challenges, and the unique governance structures and mechanisms that have been developed to properly guide a family business to greater effectiveness. Family business is the most prevalent form of business organization in the world. Much of the existing literature on family and corporate governance focuses on the larger and often publicly owned corporations instead of the unique and special issues of the much more prevalent privately held (usually smaller) family businesses. This book presents research-based information to provide the reader a deeper understanding of the complex nature of family owned businesses, their problems and challenges, and the unique governance structures and mechanisms that have been developed to properly guide a family business to greater effectiveness. For the family, such structures include having family meetings, a family council, and a family constitution. For the business, the board of directors provides experienced and knowledgeable advice and recommendations, as well as oversight and monitoring activities. For the owners, a shareholder’s council and an annual shareholder meeting allows increased communication and voting on decisions. These family governance mechanisms have been shown to increase communication, reduce conflict, and improve decision making and professionalism. Each governance tool will be explored in depth. The audience for this book is family business owners, consultants, practitioners, and family business scholars. Cases will provide readers an opportunity to apply their learning to real business problems.

Download or read book Harvard Business Review Family Business Handbook written by Josh Baron and published by Harvard Business Press. This book was released on 2021-01-26 with total page 231 pages. Available in PDF, EPUB and Kindle. Book excerpt: Navigate the complex decisions and critical relationships necessary to create and sustain a healthy family business—and business family. Though "family business" may sound like it refers only to mom-and-pop shops, businesses owned by families are among the most significant and numerous in the world. But surprisingly few resources exist to help navigate the unique challenges you face when you share the executive suite, financial statements, and holidays. How do you make the right decisions, critical to the long-term survival of any business, with the added challenge of having to do so within the context of a family? The HBR Family Business Handbook brings you sophisticated guidance and practical advice from family business experts Josh Baron and Rob Lachenauer. Drawing on their decades-long experience working closely with a wide range of family businesses of all sizes around the world, the authors present proven methods and approaches for communicating effectively, managing conflict, building the right governance structures, and more. In the HBR Family Business Handbook you'll find: A new perspective on what makes family businesses succeed and fail A framework to help you make good decisions together Step-by-step guidance on managing change within your business family Key questions about wealth, unique to family businesses, that you can't afford to ignore Assessments to help you determine where you are—and where you want to go Stories of real companies, from Marchesi Antinori to Radio Flyer Chapter summaries you can use to reinforce what you've learned Keep this comprehensive guide with you to help you build, grow, and position your family business to thrive across generations. HBR Handbooks provide ambitious professionals with the frameworks, advice, and tools they need to excel in their careers. With step-by-step guidance, time-honed best practices, and real-life stories, each comprehensive volume helps you to stand out from the pack—whatever your role.

Download or read book A History of Corporate Governance around the World written by Randall K. Morck and published by University of Chicago Press. This book was released on 2007-11-01 with total page 700 pages. Available in PDF, EPUB and Kindle. Book excerpt: For many Americans, capitalism is a dynamic engine of prosperity that rewards the bold, the daring, and the hardworking. But to many outside the United States, capitalism seems like an initiative that serves only to concentrate power and wealth in the hands of a few hereditary oligarchies. As A History of Corporate Governance around the World shows, neither conception is wrong. In this volume, some of the brightest minds in the field of economics present new empirical research that suggests that each side of the debate has something to offer the other. Free enterprise and well-developed financial systems are proven to produce growth in those countries that have them. But research also suggests that in some other capitalist countries, arrangements truly do concentrate corporate ownership in the hands of a few wealthy families. A History of Corporate Governance around the World provides historical studies of the patterns of corporate governance in several countries-including the large industrial economies of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States; larger developing economies like China and India; and alternative models like those of the Netherlands and Sweden.

Download or read book The SAGE Handbook of Family Business written by Leif Melin and published by SAGE. This book was released on 2013-11-15 with total page 697 pages. Available in PDF, EPUB and Kindle. Book excerpt: The SAGE Handbook of Family Business captures the conceptual map and state-of-the-art thinking on family business - an area experiencing rapid global growth in research and education since the last three decades. Edited by the leading figures in family business studies, with contributions and editorial board support from the most prominent scholars in the field, this Handbook reflects on the development and current status of family enterprise research in terms of applied theories, methods, topics investigated, and perspectives on the field′s future. The SAGE Handbook of Family Business is divided into following six sections, allowing for ease of navigation while gaining a multi-dimensional perspective and understanding of the field. Part I: Theoretical perspectives in family business studies Part II: Major issues in family business studies Part III: Entrepreneurial and managerial aspects in family business studies Part IV: Behavioral and organizational aspects in family business studies Part V: Methods in use in family business studies Part VI: The future of the field of family business studies By including critical reflections and presenting possible alternative perspectives and theories, this Handbook contributes to the framing of future research on family enterprises around the world. It is an invaluable resource for current and future scholars interested in understanding the unique dynamics of family enterprises under the rubric of entrepreneurship, strategic management, organization theory, accounting, marketing or other related areas.

Download or read book Family Business Identity and Corporate Governance Attributes written by Daniel Dupuis and published by . This book was released on 2018 with total page 10 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past decades, the empirical evidence on the intersection of family businesses and corporate governance has flourished significantly in the context of developed economies. Yet, little is known to date about the effectiveness of various governance mechanisms in family-owned enterprises operating in emerging markets. Due to the evolving nature of corporate governance frameworks in these markets, family business practitioners need to enhance their knowledge about governance arrangements that may lead to superior performance outcomes. Our aim is to contribute to the literature and assist practitioners by exploring the relationship between family business identity and corporate governance attributes in family-run companies located in the UAE. Data related to organizational background, familial identification and governance devices were gathered from secondary sources for a sample of 195 UAE-based family firms. Based on quantitative data analyses, we uncover the prevailing characteristics of family businesses in the UAE and identify how the familial identification of its members is associated with structural attributes of board of directors and top management team (e.g., size, family relatedness, gender and cultural diversity). The concluding section discusses the contributions of our study and delineates priorities for future research in the field.

Download or read book Family Firms in Latin America written by Claudio G. Müller and published by Routledge. This book was released on 2018-09-03 with total page 231 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is one of the first books of its kind to highlight family firms in a Latin American context, helping students to understand the distinctive nature and challenges of Latin American family businesses and how these issues compare to family businesses around the world. Building on their experience in teaching, research, speaking, and consulting on the subject of family firms in Latin America, the editors explain the need to implement and adapt traditional frameworks in the changing Latin American reality. Each section provides background on the most important topics in the management of family firms, including strategy, entrepreneurship, and performance, followed by illustrative cases and a discussion of how this knowledge is similar to or different from other parts of the world. The book’s clear writing and in-depth approach will appeal to undergraduate and graduate students of international business, business in Latin America, and family business.

Download or read book Family Business Governance written by John L. Ward and published by Macmillan. This book was released on 2011-01-04 with total page 106 pages. Available in PDF, EPUB and Kindle. Book excerpt: While every family business is unique, embracing systematic governance processes can help any family business achieve goals shared by virtually all: orderly decision-making, peaceful continuity, and the freedom to make decisions based on the highest and best purposes of both the business and the family.

Download or read book How Family Firms Differ written by S. Bhaumik and published by Palgrave Macmillan. This book was released on 2014-11-25 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt: Family firms account for a large proportion of firms in most countries. In industrialised countries of North America and Western Europe, they generally account for a large share of small and medium sized enterprises. In emerging market economies such as India, they also account for the majority of the large firms. Their importance for factors such as employment creation notwithstanding, relative to the widely held Anglo-Saxon firms, which are ubiquitous in the economics, finance and management literatures, family firms have historically received much less attention from scholars of these disciplines. However, in part owing to increased focus on emerging markets, there is a growing literature on family firms. In How Family Firms Differ, the authors explore important aspects of family firms, drawing on the existing literature and their own research on these firms.

Download or read book Corporate Governance of State Owned Enterprises written by World Bank Publications and published by World Bank Publications. This book was released on 2014-10-02 with total page 391 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Toolkit provides an overall framework with practical tools and information to help policymakers design and implement corporate governance reforms for state-owned enterprises. It concludes with guidance on managing the reform process, in particular how to prioritize and sequence reforms, build capacity, and engage with stakeholders.

Download or read book The Family Business written by Fred Neubauer and published by Springer. This book was released on 2016-07-27 with total page 293 pages. Available in PDF, EPUB and Kindle. Book excerpt: The family business has a far reaching influence on economies throughout the world. No other type of business has driven economic development in the same way and today, in almost all countries, family businesses including such giants as Ford, Levi Strauss, L'Oréal and Ferrero are the source of more than half of the Gross National Product (GNP) and employment. As a result of their prominence the question of how they are governed, controlled and accounted for is crucial not only for the owning families, but also for the societies in which these companies operate. The Family Business considers: · How to define a family-controlled business and the significance of this form of privately-held enterprise. · Governance systems in the context of the family business. · How a board of outsiders can add value to the typical family business. · How to handle the classical tensions between family and board and between family and management on the other. · How to gain effective and efficient control at the highest level. The answer to these questions and others is given by providing a large number of examples of internationally active family businesses and from the authors teaching and research into this area. Sustainability is the key concern to the family business and this book breaks new ground in showing how they can successfully live on to the next generation.

Download or read book A Case for Shareholders Fiduciary Duties in Common Law Asia written by Ernest Lim and published by Cambridge University Press. This book was released on 2019-08-22 with total page 655 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reconceptualises the general meeting, controlling shareholders and institutional investors as fiduciaries in four leading common law Asian jurisdictions.

Download or read book The Oxford Handbook of Corporate Law and Governance written by Jeffrey Neil Gordon and published by Oxford University Press. This book was released on 2018 with total page 1217 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate law and governance are at the forefront of regulatory activities worldwide, and subject to increasing public attention in the wake of the Global Financial Crisis. Comprehensively referencing the key debates, the Handbook provides a much-needed framework for understanding the aims and methods of legal research in the field.

Download or read book Corporate Governance and Institutional Investment written by Malik M. Hafeez and published by Universal-Publishers. This book was released on 2015-12-16 with total page 333 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate Governance and Institutional Investment focuses on corporate governance and the legal nature of institutional investors in the corporate system. Its aim is to expose the complexity of the relationships that exist between companies on one side, and their shareholders, stakeholders, and monitors on the other. Various types of investors, including trusts and companies, are discussed, including how they function under different legal guidelines. The role of investment managers acting on the behalf of institutional investors is examined, as well as why fund managers overlook the corporate governance problems of their investee’s companies when they are performing well financially. This complexity is one of the main reasons why corporate scandals still occur, despite the existence of an extensive academic literature on corporate governance and the sustained efforts by the corporate community around the world. An analysis of how the monitoring role of institutional investors became effective in the light of company law and trusts is presented by using a comparative model involving the U.K., the U.S.A., Pakistan, and continental Europe. Financial scandals of the last decade such as Enron, Northern Rock, and the banking crisis are also examined. Finally, a review of regulatory approaches which rely upon formal rules and institutions backed by the state legal system, and non-regulatory approaches emphasizing the market mechanism and contractual arrangements, is included.

Download or read book Corporate Governance Around the World written by Ahmed Naciri and published by Routledge. This book was released on 2008-02-14 with total page 545 pages. Available in PDF, EPUB and Kindle. Book excerpt: The last Asian financial crisis, coupled with the western series of corporate scandals, has caused investors and citizens to doubt mangers ability to guarantee credible financial information about organizations. Consequently, legislators all over the world have come to realise the necessity of legislating in the area of corporate governance.

Download or read book Corporate Governance of Non Listed Companies in Emerging Markets written by OECD and published by OECD Publishing. This book was released on 2006-01-30 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication provides policy makers, board members, managers, equity providers, creditors and other stakeholders an overview of the issues to be addressed in establishing good corporate governance of non-listed companies.