IDEAS home Printed from https://ideas.repec.org/a/now/jnlacg/109.00000031.html
   My bibliography  Save this article

Enterprise Foundations: Law, Taxation, Governance, and Performance

Author

Listed:
  • Steen Thomsen
  • Nikolaos Kavadis

Abstract

Enterprise foundations are foundations, which own companies. While this structure is little known outside Northern Europe, a number of leading global companies such as Robert Bosch, Rolex, Carlsberg, Hershey, Ikea, the Wallenberg sphere or the Tata Group are ultimately owned by foundations. Aside from their economic significance, enterprise foundations have interesting governance characteristics including long-term ownership, the absence of a personal profit motive and the combination of business and philanthropy. Recently, they have attracted attention as a safeguard for a company purpose. In this monograph, we review the limited, but growing literature on the topic focusing on law, taxation, governance, and performance. We conclude by considering policy implications and avenues for research.

Suggested Citation

  • Steen Thomsen & Nikolaos Kavadis, 2022. "Enterprise Foundations: Law, Taxation, Governance, and Performance," Annals of Corporate Governance, now publishers, vol. 6(4), pages 227-333, March.
    • Handle: RePEc:now:jnlacg:109.00000031
    DOI: 10.1561/109.00000031
    as

    Download full text from publisher

    File URL: http://dx.doi.org/10.1561/109.00000031
    Download Restriction: no
    File URL: https://libkey.io/10.1561/109.00000031?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Stiglitz, Joseph E., 1987. "Pareto efficient and optimal taxation and the new new welfare economics," Handbook of Public Economics, in: A. J. Auerbach & M. Feldstein (ed.), Handbook of Public Economics, edition 1, volume 2, chapter 15, pages 991-1042, Elsevier.
    2. Romer, Paul M, 1990. "Endogenous Technological Change," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages 71-102, October.
    3. Schelling, Thomas C, 1985. "Enforcing Rules on Oneself," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 1(2), pages 357-374, Fall.
    4. Steen Thomsen, 1996. "Foundation Ownership and Economic Performance1," Corporate Governance: An International Review, Wiley Blackwell, vol. 4(4), pages 212-221, October.
    5. Lorraine Uhlaner & Mike Wright & Morten Huse, 2007. "Private Firms and Corporate Governance: An Integrated Economic and Management Perspective," Small Business Economics, Springer, vol. 29(3), pages 225-241, October.
    6. Thomsen, Steen, 2016. "The Nordic Corporate Governance Model," Management and Organization Review, Cambridge University Press, vol. 12(1), pages 189-204, March.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Buchanan, Bonnie & Kaya, Caglar, 2024. "Foundation ownership and creditor governance: Evidence from publicly listed companies," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 93(C).
    2. Joern Block & Reza Fathollahi, 2023. "Foundation ownership and firm growth," Review of Managerial Science, Springer, vol. 17(8), pages 2633-2654, November.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ann-Kristin Achleitner & Dmitry Bazhutov & André Betzer & Joern Block & Florian Hosseini, 2020. "Foundation ownership and shareholder value: an event study," Review of Managerial Science, Springer, vol. 14(3), pages 459-484, June.
    2. Abida Hafeez & Karim Bux Shah Syed & Fiza Qureshi, 2019. "Exploring the Relationship between Government R & D Expenditures and Economic Growth in a Global Perspective: A PMG Estimation Approach," International Business Research, Canadian Center of Science and Education, vol. 12(4), pages 163-174, April.
    3. repec:ilo:ilowps:366690 is not listed on IDEAS
    4. Nicolai J. Foss, 2012. "Linking Ethics and Economic Growth: a Comment on Hunt," Contemporary Economics, University of Economics and Human Sciences in Warsaw., vol. 6(3), September.
    5. Croce, M.M. & Nguyen, Thien T. & Raymond, S. & Schmid, L., 2019. "Government debt and the returns to innovation," Journal of Financial Economics, Elsevier, vol. 132(3), pages 205-225.
    6. Arcalean, Calin & Glomm, Gerhard & Schiopu, Ioana, 2012. "Growth effects of spatial redistribution policies," Journal of Economic Dynamics and Control, Elsevier, vol. 36(7), pages 988-1008.
    7. Chu, Angus C. & Cozzi, Guido & Furukawa, Yuichi, 2016. "Unions, innovation and cross-country wage inequality," Journal of Economic Dynamics and Control, Elsevier, vol. 64(C), pages 104-118.
    8. Heijs, Joost, 2003. "Freerider behaviour and the public finance of R&D activities in enterprises: the case of the Spanish low interest credits for R&D," Research Policy, Elsevier, vol. 32(3), pages 445-461, March.
    9. Boucekkine, Raouf & del Rio, Fernando & Licandro, Omar, 2005. "Obsolescence and modernization in the growth process," Journal of Development Economics, Elsevier, vol. 77(1), pages 153-171, June.
    10. Jeffrey Frankel, 2014. "Mauritius: African Success Story," NBER Chapters, in: African Successes, Volume IV: Sustainable Growth, pages 295-342, National Bureau of Economic Research, Inc.
    11. Kawalec Paweł, 2020. "The dynamics of theories of economic growth: An impact of Unified Growth Theory," Economics and Business Review, Sciendo, vol. 6(2), pages 19-44, June.
    12. Chaminade, Cristina & Vang, Jan, 2005. "Innovation Policies for Small and Medium Size Enterprises in Asia: An Innovation Systems Perspective," Papers in Innovation Studies 2005/6, Lund University, CIRCLE - Centre for Innovation Research.
    13. Lutz Arnold & Christian Bauer, 2009. "On the growth and welfare effects of monopolistic distortions," Journal of Economics, Springer, vol. 97(1), pages 19-40, May.
    14. Yew-Kwang Ng & Xiaokai Yang, 2005. "Specialization, Information, And Growth: A Sequential Equilibrium Analysis," World Scientific Book Chapters, in: An Inframarginal Approach To Trade Theory, chapter 20, pages 447-474, World Scientific Publishing Co. Pte. Ltd..
    15. Schreiner, Lena & Madlener, Reinhard, 2022. "Investing in power grid infrastructure as a flexibility option: A DSGE assessment for Germany," Energy Economics, Elsevier, vol. 107(C).
    16. Loebbing, Jonas, 2018. "An Elementary Theory of Endogenous Technical Change and Wage Inequality," VfS Annual Conference 2018 (Freiburg, Breisgau): Digital Economy 181603, Verein für Socialpolitik / German Economic Association.
    17. Grimaud, Andre & Rouge, Luc, 2003. "Non-renewable resources and growth with vertical innovations: optimum, equilibrium and economic policies," Journal of Environmental Economics and Management, Elsevier, vol. 45(2, Supple), pages 433-453, March.
    18. Liliana Meza-González & Jaime Marie Sepulveda, 2019. "The impact of competition with China in the US market on innovation in Mexican manufacturing firms," Latin American Economic Review, Springer;Centro de Investigaciòn y Docencia Económica (CIDE), vol. 28(1), pages 1-21, December.
    19. Edward L. Glaeser & Giacomo A. M. Ponzetto, 2010. "Did the Death of Distance Hurt Detroit and Help New York?," NBER Chapters, in: Agglomeration Economics, pages 303-337, National Bureau of Economic Research, Inc.
    20. Blackburn, Keith & Forgues-Puccio, Gonzalo F., 2009. "Why is corruption less harmful in some countries than in others?," Journal of Economic Behavior & Organization, Elsevier, vol. 72(3), pages 797-810, December.
    21. Raffaello Bronzini & Paolo Piselli, 2006. "Determinants of long-run regional productivity: the role of R&D, human capital and public infrastructure," Temi di discussione (Economic working papers) 597, Bank of Italy, Economic Research and International Relations Area.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:now:jnlacg:109.00000031. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Lucy Wiseman (email available below). General contact details of provider: http://www.nowpublishers.com/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.