Index
Family Firms and Family Constitution
ISBN: 978-1-83797-203-6, eISBN: 978-1-83797-200-5
Publication date: 14 December 2023
This content is currently only available as a PDF
Citation
(2023), "Index", Fleischer, H. and Prigge, S. (Ed.) Family Firms and Family Constitution (Law and Management of Family Firms), Emerald Publishing Limited, Leeds, pp. 257-267. https://doi.org/10.1108/978-1-83797-200-520231026
Publisher
:Emerald Publishing Limited
Copyright © 2024 Holger Fleischer and Stefan Prigge
License
This work is published under the Creative Commons Attribution (CC BY 4.0) licence. Anyone may reproduce, distribute, translate and create derivative works of this book (for both commercial and non-commercial purposes), subject to full attribution to the original publication and authors. The full terms of this licence may be seen at http://creativecommons.org/licences/by/4.0/legalcode
INDEX
Accomenda, family firms as promoters of
, 5–7
Ad-hoc Agreements, collection of
, 184–185
Afep-Medef Code
, 221
Affectio familiae
, 182–184, 221
Agency theory
, 106, 161
agency theory-based reasoning
, 46
Agricultural enterprises, special rules for
, 204–205
Aktiengesellschaft (Public Limited Company)
, 217
Alignment
, 105–106, 110
Anglo-American legal system
, 167
“Anglo-American model” of governance
, 144
Applicable law, Succession law arrangements already possible under
, 207
Application stage of family constitutions
, 254
Australia
, 144
Australian and New Zealand Industrial Classification (ANZIC)
, 149
Australian Corporations Act
, 144
Australian family business context
descriptive statistics
, 151
governance
, 145–146
effect of governance mechanisms on family-oriented performance
, 151–153
effect of governance mechanisms on financial performance
, 153
implications for future research
, 161–162
implications for practice
, 161
limitations
, 160–161
research method
, 147–150
research questions
, 147
results
, 151
wealth, and performance of family businesses
, 146–147
Australian family-owned businesses
, 147
Austrian Civil Code
, 201
Austrian law
, 200–201, 226
Baring
, 7–9
Baring banking house
, 8
Basic Law of Fugger Trade
, 7
Behavior rules
, 41
Behavioral agency
, 161
Belgian Corporate Governance Code
, 16
Belgium
, 16–17
Bertelsmann
, 9–10
Bivalent attributes
, 82
Board diversity
, 58
Bonduelle Group, The
, 219–220
Brussels Court of Appeal
, 22
Business
, 118
administration
, 166
business-focused approach
, 187–188
effects of family constitution in business practice
, 167–168
fair process between family members and in
, 87–89
management perspective
, 51
systems
, 65, 102
Business governance
family constitution’s position in
, 34–35
mechanisms
, 144, 147, 149, 151, 153
Charte Familiale
, 16–17
Civil law
company
, 231
partnership under
, 241–242
Code Buysse
, 16
Codes of governance for family firms
, 19
Codex, The
, 36
Cohesion
, 105, 109–111
factors
, 123–125
Communication
, 95, 106–109
Communities of heirs
, 201–202
Compagnia
, 5
Company law
, 17, 201, 210
arrangements
, 207
interfaces between succession and
, 198
law on corporations
, 210–211
partnerships
, 207–210
respective tasks of
, 199
Company-induced critical incidents, examples for
, 127
Complexity in law and fact
, 234
emotions
, 234
juxtaposition of family and family business
, 234
Conceptual origins of family constitutions
, 181
convergence in concept of family business governance
, 184
corporate governance
, 183–184
House Laws and fideicommissum
, 181–182
strategic planning
, 182–183
Conference
, 254
Conflicts
and dangerous for family businesses
, 234–237
in family businesses
, 228
intergenerational conflict
, 237
juxtaposition of corporate and succession law
, 237
obligation to consent due to shareholder’s fiduciary duty
, 236
reasons for
, 235
unanimous votes and individual consent requirements
, 235–236
Consensus-creating devices
, 189
Consortium ercto non cito
, 5
Constitution
, 239
Constrictive familiness
, 83
Consultancy literature
, 42–43
Consulting approach
, 186
Continuation clause
, 208
Contract
replication of rules by
, 205–207
violations
, 73
Convergence in concept of family business governance
, 184
Convergent validity
, 150
Corporate DNA
, 243
Corporate governance
, 34, 65, 145, 183–184
codes
, 221
in family businesses
, 170
mechanisms of corporate governance in family businesses
, 166–167
practices of Australian family businesses
, 144
Corporate law
juxtaposition of
, 237
novelty in
, 237–238
Corporate levels and statutes, architecture of family business providing for
, 230
Corporate property as special property
, 203–204
Corporate succession
, 199, 204–205
Corporations, law on
, 210–211
Creation process
, 14, 49
Critical incidents
broad segments of
, 118–119
in context of entry into and exit from system
, 122–123
decisive role of legal advisor in identifying
, 130–131
Decision-making process
, 75, 185
Decoupling
, 47
Deliberation process
, 93
Development process
, 255
Development stage of family constitutions
, 254–255
Distinctive familiness
, 83
Distribution
, 200
Distributive effect of succession law
, 200
Distributive equality principle
, 201
Distributive justice principles
, 87
Diversification
, 129
Diversity of family firms
, 218
Bonduelle
, 219–220
Hermès
, 220
Lactalis
, 218–219
Roquette Frères
, 219
Downfall protection design
, 128
fail-safe back-up system
, 129–130
monitoring system
, 128–129
performance system
, 128
Drafting process
, 21
Dutch family SMEs, family constitution practices in
, 86–87
Early precursors of family constitution
, 10
Egalitarianism from family system
, 71
Emancipation process
, 240
Emergent themes
, 113
Emotional behavior
, 235
Emotional ownership
, 161
Emotional value
, 161
Emotions
, 234
Empirical big-sample study
, 46
Enterprises
, 204
Entreprise unipersonnelle à responsabilité limitée (EURL)
, 217
Entry clause
, 209
Equality
, 74, 200
Equity theory
, Equity theory, 69
European Academy of Management (EURAM)
, 31
European Commission
, 198
European Group of Family Businesses (GEEF)
, 198
European Institute for Advanced Studies in Management (EIASM)
, 31
F-PEC Scale
, 33–34
Factor analysis
, 48
Fail-safe back-up system
, 129–130
Failure Mode and Event Analysis (FMEA)
, 118, 120, 138
Fair process
, Fair process, 98
between family members and in business
, 87–89
Fairness perceptions
, 70
Familienverfassung
, 17
Family
, 118
boot
, 90
company
, 231
council
, 145
feelings
, 235
juxtaposition of
, 234
ownership contract
, 188–189
protocols
, 67, 112–113
shareholders
, 230
statement
, 185–186
as strategic resource
, 82–83
system
, 66
thinking
, 235
wealth
, 146
Family agreement (see Family constitutions)
Family Business Australia (FBA)
, 144
Family business governance
, 66
convergence in concept of
, 184
model
, 43
research
, 145
Family Business Protocol
, 167
Family business(es)
, 4, 10, 23, 64, 118, 168, 197–198, 228
characteristics and management of
, 169
complexity in law and fact
, 234
conflicts typical and dangerous for family businesses
, 234
corporate governance and family governance in
, 170
juxtaposition of
, 234
law of family businesses
, 228–233
managing complexity and managing conflicts
, 228
mechanisms of corporate governance in
, 166–167
research on family governance
, 113
special and individual characteristics
, 235
typical reasons for conflicts
, 235–237
wealth, and performance of
, 146–147
Family businesses law
, 228
architecture of family business providing for different corporate levels and statutes
, 230
classification of family constitutions in
, 240–242
founder’s will and tradition
, 229
great diversity of legal forms of companies
, 230
law of individual contracts and regulations
, 228
legal significance for interpretation and content of family business statutes
, 229–230
levels of regulations
, 233
not only articles of association, but different corporate levels
, 230
shareholder agreements
, 230–232
shareholder resolutions
, 232
tradition of family business, values, and goals
, 229
typical characteristics and regulation requirements
, 228–229
Family constitutions
, 19, 50–51, 86, 93–94, 105–107, 145, 188, 195, 221–223, 249, 254, 256
through ages
, 10
articles of association
, 18
Belgium
, 16–17
business-focused approach
, 187–188
characteristics and management of family businesses
, 169
characterization of survey and sample
, 168–169
classification en bloc
, 189
classification of family constitutions in law of family businesses
, 240
codes of governance for family firms
, 19
collection of Ad-hoc Agreements
, 184–185
conceptual origins
, 181–184
corporate governance and family governance in family businesses
, 170
early precursors
, 10
effects of family constitution in business practice
, 167–168
as element of family governance
, 170–171
exposing family constitution chameleon
, 180
family constitution constitute another corporate level
, 241
family firms and legal forms
, 4–10
family governance instrument
, 238
family-focused approach
, 185–186
France
, 15
general approach to legal effects and legal characterization
, 240–241
Germany
, 17
within governance framework for family firms
, 18
guidelines of moneyed aristocracy
, 12–13
House Laws of High Nobility
, 10–12
impact on shareholder’s fiduciary duties
, 242
institutions
, 41
Italy
, 17
juridification of
, 20–21
key findings
, 23–24
legal facts
, 189–190
legal implications
, 189
legal quality and relevance of
, 239
in light of German Company Law
, 20
mechanisms of corporate governance in family businesses
, 166–167
modern variations
, 14
name, definition, purpose, and content of
, 238–239
novelty in Corporate Law
, 237–238
obligation to implement
, 190
own empirical findings
, 168
ownership-focused approach
, 188–189
parties, language, and versions of
, 239
partnership under civil law
, 241–242
position in family and business governance
, 34–35
practical approaches
, 184
practices in Dutch family SMEs
, 86–87
recommendations for action
, 171–172
rise of family constitutions and legal research
, 3–4
roles
, 41
rules for governance of family firms
, 220–223
shareholder agreements
, 19, 190
shareholder resolutions
, 242
Spain
, 16
standardization of
, 22
statutes
, 18
theorization of
, 21–22
typical content of
, 35
United States
, 14–15
values and goals
, 41
Family firms
, 4, 30, 71
in 19th century between partnerships and corporations
, 7–9
codes of governance for
, 19
designing and implementing governance mechanisms in
, 73–75
diversity of
, 218–220
family constitutions within governance framework for
, 18
as first users of Roman Societas
, 5
individual’s cognitive model for assessment justice in
, 71–73
main types of legal structures for
, 216
in particular family constitutions, rules for governance of
, 220–223
and plurality of legal forms in 20th and 21st centuries
, 9–10
primer on family firm management as field of research
, 30
as promoters of the medieval Compagnia, Accomenda and OHG
, 5–7
receiver perspective to governance in
, 67–70
researchers
, 31
SA
, 217
SARL
, 217
SAS
, 217
SCS and SCA
, 218
SNC
, 217–218
Family governance
, 38, 57, 85–87, 103
(see also Corporate governance)
a code of conduct
, 111–112
a set of rules
, 112–113
alignment
, 105–106
bivalent characteristics
, 83–84
central themes
, 104
changeability of decisions, process, goals, and principles
, 96–97
clarification
, 94–95
cohesion
, 109–111
commitment to fairness
, 97
communication
, 106–109
communication and voice
, 95
company
, 89–90
consistency across people, over time and with agreed values and norms
, 96
data collection
, 89
elements of
, 58
fair process between family members and in business
, 87–89
family as strategic resource
, 82–83
family boot
, 90
in family businesses
, 170
family constitution
, 93–94
family constitution as element of
, 170–171
family constitution’s position in
, 34–35
findings
, 94
instruments
, 49, 238
management of strategic resources
, 84
mechanisms
, 144, 147, 149, 153
ownership structure
, 90–93
in practice
, 89
process
, 222
systems
, 102
theoretical perspectives
, 82
Family Influence Familiness Scale (FIFS)
, 34
Family members
, 138
fair process between family members and in business
, 87–89
Family-focused approach
, 185–186
Family-oriented performance
, 48, 148, 150
effect of governance mechanisms on
, 151–153
Family-owned companies
, 166, 169
Ferdinandean House Rules (1554)
, 11
Fideicommissum
, 181–182, 189, 207
Financial performance
, 48, 148, 150
effect of governance mechanisms on
, 153
Förderkreis Gründungs-Forschung (FGF)
, 31
Four types of family constitutions
, 184
Framing
, 108
France
, 15
diversity of family firms
, 218–220
main types of legal structures for family firms
, 216–218
rules for governance of family firms, in particular family constitutions
, 220–223
Fredo effect
, 85
French Civil Code
, 222
French courts
, 223
French family firms
, 218
French limited liability companies
, 220–221
Fugger, Jakob
, 5–7
Future research, paths of
, 49–51
G20
, 34
Gap between practice and written rules
, 254
German Civil Code
, 201, 231, 235, 241
German Company Law
, 9
family constitutions in light of
, 20–22
German Corporate Governance Codex
, 36
German corporate law
, 229
German Federal Court of Justice
, 234
German Federal High Court
, 236
German Limited Liability Company Act
, 18
German succession law
, 237
Germany
, 17, 166–168
Gesellschaft mit beschränkter Haftung (GmbH)
, 217
Gesellschaft mit beschränkter Haftung Act (1892)
, 7
Governance
, 118, 145–146, 183
corporate governance codes
, 221
family constitutions
, 221–223
legislation
, 220–221
policy implementation
, 75
process
, 127
protocols
, 187–188
receiver perspective to governance in family firms
, 67–70
rules for governance of family firms, in particular family constitutions
, 220
shareholder agreements
, 221
Governance Code for Family Businesses (GKFU)
, 17, 19
Governance Codex
, 36
Governance Codex for Family Firms, The
, 36
Governance Kodex für Familienunternehmen (GKFU)
, 238, 241
Governance mechanisms
, 76
designing and implementing governance mechanisms in family firms
, 73–75
effect of governance mechanisms on family-oriented performance
, 151–153
effect of governance mechanisms on financial performance
, 153
Governance system
basic dilemma for achieving “ultra-stability”
, 130
broad segments of critical incidents
, 118–119
decisive role of legal advisor in identifying critical incidents
, 130–131
downfall protection design
, 128–130
examples for company-induced critical incidents
, 127
examples of owner-induced critical incidents
, 122–127
extant research
, 119–121
importance of factors
, 121–122
Heirs, communities of
, 201–202
Hermès
, 220
Hermès International
, 220
Hermès Paris
, 220
Heterogeneity
, 254
standardization of family constitutions vs.
, 254
Heterogeneous development processes
, 255
Homogeneous development process
, 255
House Agreements (1703)
, 11
House Laws
, 181–182
House Laws of High Nobility
, 10–12
House laws of late Middle Ages
, 23
Hoyer
, 30
HOYER GmbH Internationale Fachspedition
, 39
Imperial Austrian Family Statute (1839)
, 11
Inadvertent violation
, 73
Individual consent requirements
, 235–236
Individual’s cognitive model for assessment justice in family firms
, 71–73
Inheritance and Family Law
, 233
Institutions
, 41
Insurance policy
, 85
Interactional justice
, 70
Intergenerational conflict
, 237
Internationalization processes
, 167
INTES Institute
, 168
Intra-family conflicts
, 256
Italy
, 17
Juridification of family constitution
, 20–21
Justice perceptions
designing and implementing governance mechanisms in family firms
, 73–75
family business governance
, 65–67
ideas for future research
, 75–78
individual’s cognitive model for assessment justice in family firms
, 71–73
receiver perspective to governance in family firms
, 67–70
Kernbereich der Mitgliedschaft
, 236
KGaA
, 23
Kormann’s differentiation
, 138
KPMG Australia
, 144
Lactalis (family businesses in France)
, 218–219
Legal advisors
, 188
decisive role of legal advisor in identifying critical incidents
, 130–131
Legal characterization, general approach to
, 240–241
Legal classification of family constitutions
, 189
Legal consultant
, 59, 136
Legal effects, general approach to
, 240–241
Legal forms
, 4–10
family firms and plurality of legal forms in 20th and 21st centuries
, 9–10
great diversity of legal forms of companies
, 230
Legal practitioner
, 138
Legal qualification
, 231
Legal quality and relevance of family constitutions
, 239
Legislation
, 220–221
Legitimacy
, 45
Les Fils de Peugeot Frères
, 13
Liberal approach
, 196
Longitudinal data collection method
, 161
Managing dispersed ownership within owner family
family governance
, 103–113
Max Planck Institute for Comparative and International Private Law
, 180
Mediation
, 172
Medici, Banco
, 5–7
Medici, The
, 6
Medieval Compagnia, family firms as promoters of
, 5–7
Membership, core of
, 236
Merck
, 9–10
Meritocracy
, 74
from business systems
, 71
logic
, 72
MiddleNext Code
, 221
Moneyed aristocracy, guidelines of
, 12–13
Moral obligation
, 21
Motives for introduction of family constitution
, 170
Mulliez family’s constitution
, 226
National legal framework
, 256
National legal system
, 201
Netherlands
, 89, 92
NNZ (multinational company)
, 89–94
Non-family CEO
, 137
Non-family firms
, 31
Non-family member
, 136
Nonfinancial performance
, 48
Noord Nederlandse Zakkenhandel (NNZ)
, 90
OECD
, 34
OHG, family firms as promoters of
, 5–7
Ohio law
, 9
“One size fits all” document
, 59
Optimal leadership
, 41
Organizational justice
, 65, 70
Owner-family
, 35, 114
Owner-induced critical incidents
analysis of cohesion and separation factors and separation hurdles
, 123
cohesion factors
, 123–125
critical incidents in context of entry into and exit from system
, 122–123
examples of
, 122
separation factors
, 125
separation hurdles
, 125–127
Ownership
, 118
controlling rights and property rights
, 202–203
system
, 66
Pacte familial
, 15
Paradoxes
, 39
Paris Court of Appeal
, 15
Patto di famiglia
, 17
Pearson matrix
, 150
Pierre et Benoît Bonduelle SAS
, 220
Planning process
, 188–189
for family bonding
, 185
for family statement
, 186
Preparation process
, 171
Principal Component Analysis (PCA)
, 148
Procedural justice
, 70, 87
Property rights, ownership involves controlling
, 202–203
Protocolo familiar
, 16
Psychological contracts
, 45, 65, 68
Qualified successor clause
, 209
Quantitative analysis
, 162, 175–176
Quantitative-empirical survey
, 168
Receiver approach
, 76
Receiver perspective to governance in family firms
, 67–70
Recipient approach
, 65
Regression analysis
, 48
Relational governance
, 85
Research conference
, 254
Research method
, 145, 147
control variables
, 149–150
dependent variables
, 147–149
governance variables
, 149
measurement of variables
, 147
validity
, 150
Resource mobilization theory
, 109
Resource-Based Theory (RBT)
, 82
Resource-Based View (RBV)
, 32, 82
Resources
, 82, 109
Rights, ownership involves controlling
, 202–203
Rights of control
, 202
Rockefeller, John D.
, 7–9
Roman Societas, family firms as first users of
, 5
Root causes of disappearance
, 122
Roquette Frères (family-owned company)
, 219
Schlumberger business dynasty
, 13
Scientific literature
, 43–49
Sebastian Bong (French corporate law)
, 182
Separation factors
, 125
Separation hurdles
, 125–127
Settlement exclusion clause
, 208
Shareholders
, 203, 235
agreements
, 19, 190, 202, 221, 230–232
impact on shareholder’s fiduciary duties
, 242
obligation to consent due to shareholder’s fiduciary duty
, 236
resolutions
, 232, 242
Simplified stock companies
, 221
Small-and-medium enterprises (SMEs)
, 31
Social group cohesion
, 110
Social movement theory
, 109
Social systems theory
, 46
Société à responsabilité limitée (SARL)
, 217–218
Société anonyme (SA)
, 217–219
Société d’Emboutissage de Bourgogne (SEB)
, 215
Société en commandite par actions (SCA)
, 218, 220
Société en commandite simple (SCS)
, 218
Société en nom collectif (SNC)
, 217–218
Société par actions simplifiée (SAS)
, 217–218
Société par actions simplifiée unipersonnelle (SASU)
, 217
Socio-Emotional Wealth (SEW)
, 33
Spain
, 16
Special Rights
, 235
Special rules
, 206
for agricultural enterprises
, 204–205
Splendor familiae
, 181–182, 184
StAK Libau board
, 92
Stakeholder theory
, 161
Standard Oil Company
, 9
Standardization
, 254
of family constitution
, 22
Status of literature
, 41
consultancy literature
, 42–43
scientific literature
, 43–49
Stewardship theory
, 172
Stichting administratiekantoor (StAK)
, 90–92
Stock Corporation Act
, 18
Störfallanalyse technique
, 120
Strategic Interest Group (SIG)
, 31
Strategic planning
, 182–183
Strategic resources
family as
, 82–83
management of
, 84
Succession
communities of heirs
, 201–202
corporate property as special property
, 203–204
different interests affected
, 203
distribution and equality
, 200
family business
, 197–198
interfaces between company and succession law
, 198
ownership involves controlling rights and property rights
, 202–203
possible company law arrangements
, 207–211
replication of rules by contract
, 205–207
reserved portion
, 200
respective tasks of succession law and company law
, 199
special rules for agricultural enterprises
, 204–205
succession law arrangements already possible under applicable law
, 207
Succession law
, 210
arrangements under applicable law
, 207
interfaces between company and
, 198
juxtaposition of
, 237
principle of distribution
, 202
respective tasks of
, 199
succession law-based inheritance
, 199
Successor clause
, 209
Survey analyses
, 175–176
Tertiary protection
, 129
Theorization of family constitution
, 21–22
Three-circle model
, 31
Three-Lines-of-Defence model
, 139
Transgenerational entrepreneurship
, 84
Typical content of family constitutions
, 35
Ultra-stability, basic dilemma for achieving
, 130
Unanimous votes
, 235–236
United States
, 14–15
US legal literature
, 15
Validity
, 150
Variables, measurement of
, 147
Variance Inflation Factor (VIF)
, 150
Voice
, 95
Wealth, and performance of family businesses
, 146–147
- Prelims
- Part 1: Legal and Managerial Foundations
- Chapter 1: Family Companies and Family Constitutions: Historical and Comparative Perspectives
- Chapter 2: Family Firms and Family Constitution – A Management Perspective
- Chapter 3: Discussion Report Part 1: Legal and Managerial Foundations
- Part 2: Managerial Research I: Conceptual and Qualitative Analyses
- Chapter 4: A Receiver Approach to Governance in Family Firms: The Role of Justice Perceptions
- Chapter 5: Family Governance in Practice: Lessons Learned from a 100-Year-Old Entrepreneurial Family Firm
- Chapter 6: Managing Dispersed Ownership Within the Owning Family: The Role of Family Governance
- Chapter 7: Analysis of Critical Incidents for the Design of the Governance System
- Chapter 8: Discussion Report Part 2: Managerial Research I: Conceptual and Qualitative Analyses
- Part 3: Managerial Research II: Survey and Quantitative Analyses
- Chapter 9: An Examination of the Relationship Between Governance Mechanisms and Performance: Evidence from the Australian Family Business Context
- Chapter 10: The Family Constitution as an Instrument of Corporate Governance in Family-Owned Companies
- Chapter 11: Discussion Report Part 3: Managerial Research II: Survey and Quantitative Analyses
- Part 4: Legal Research
- Chapter 12: Facets of Family Constitutions: Conceptual Origins, Practical Approaches, and Legal Implications
- Chapter 13: Discussion Report Part 4: Legal Research I
- Chapter 14: Succession in Family Businesses – Legal Frameworks
- Chapter 15: Family Firms and Family Constitutions in France – A General Overview
- Chapter 16: Discussion Report Part 4: Legal Research II
- Chapter 17: Family Constitutions and the Complexity of Family Businesses from a Counsel's Point of View
- Chapter 18: Discussion Report Part 4: Legal Research III
- Part 5: Conclusion
- Chapter 19: Directions for Future Research
- Index