Hiring and working with non-family managers can present challenges to the family business. However, it is essential to create an environment in which non-family managers can suceed for the good of the business and the good of the family. This book explores the processes of hiring, managing, and retaining talented outside executives.
Cover -- Title Page -- Copyright Page -- Table Of Contents -- Chapter One: A Treasure Hunt -- Chapter Two: Other Kinds Of Families -- Chapter Three: Families Take Care Of You -- Chapter Four: Different Can Be Great -- Make A "One Great Thing" Poster -- Glossary -- To Learn More/Index -- Back Cover
This comprehensive and authoritative book offers a global approach to the modern economics of the family, family law and family policy. Beginning with the division of labour in the family, this book deals with the economics of marriage, the demand for children, inter-generational relationships, and the economics of inheritance. The family is analysed using the theory of utility maximisation assuming that individuals wish to achieve the greatest possible satisfaction with limited resources and imperfect knowledge. The family is examined from both long and short term perspectives, and it is assumed that the family is cooperative with incentives for altruistic behaviour greater than in any other social group
The twenty-fifth anniversary of the publication of Gary Becker's path-breaking Treatise on the Family provides an occasion to reexamine both the American family and family economics. We begin by discussing how families have changed in recent decades: the separation of sex, marriage, and childbearing; fewer children and smaller households; converging work and education patterns for men and women; class divergence in partnering and parenting strategies; and the replacement of what had been family functions and home production by government programs and market transactions. After discussing recent work in family economics that attempts to explain these changes, we point out some challenging areas for further analysis, and highlight issues of commitment in two primary family relationships: those between men and women, and those between parents and children. We conclude by discussing the effectiveness of policies to target benefits to certain family members (e.g., children) or to promote marriage and fertility.
The analysis of the recent changes in the legislation concerning family rights and family policy in Poland contains two parts. The first one will reflect upon legal obligations of public authorities towards families stemming from the Constitution and legal acts. The second one is devoted to an analysis of the recent changes in family-related legal provisions and their evaluation in context of both human rights guarantees and the influence on the welfare of families. ; Olaf Szczypiński
AbstractManuscript TypeEmpiricalResearch Question/IssueFamily control in family firms can extend beyond the direct involvement of family members, but identifying these mechanisms is difficult in most markets. We utilize unique disclosures made by Taiwanese firms to examine the role played by family representatives in listed family firms. Family representatives are non‐family members that represent the controlling family's indirect shareholdings in the firm. We examine whether family representatives are used in the same manner as family members and whether they provide net benefits or costs to shareholders.Research Findings/InsightsIn our sample of listed family firms, we find that omitting family representatives understates the influence of controlling families by 46 percent. We show that family representatives are associated with net costs to shareholders, but to a lesser extent than family members. We also find that controlling families use family members and family representatives differently. Family members are more involved in older family firms and in firms founded by the family. Family representatives are more involved in acquired and second generation family firms and in larger firms with more fixed assets.Theoretical/Academic ImplicationsWe apply agency theory to the use of family representatives and show that family representatives are being used by controlling families to extend their influence within their firms, increasing agency costs to minority shareholders.Practitioner/Policy ImplicationsFor policymakers, our analysis shows that disclosure of family member and representative relationships within firms is important and value‐relevant to investors. Furthermore, our results suggest that firm performance could be improved by limiting the involvement of family members and family representatives in family firms.
Economic analysis of the family is a recent, but already well established area in economics. This book bears evidence to the lively and relevant research in the area. Essays in this comprehensive collection provide a clear picture of the state of the art of economics of the family and explore theoretical and empirical applications. The contributors further analyse tax, public child care and parental leave policies in terms of the incentives they create for labour supply, time allocation, human capital accumulation and the choice of how to organize child care. This volume also draws on experie
A description of the historical, philosophical, political, economic, & cultural background of Chinese society provides a framework for the examination of national policies on the family & family research since the 1930s. The effects on several national policies -- the Constitution, the Marriage Law, & population policy of one child per family -- are discussed. Research by the Chinese Academy of Social Sciences & the All-China Women's Federation -- the main institutions that conduct family research -- is summarized. Trends in the impact of science, technology, & modernization on the family are noted. Social influences, eg, mass media, education & women's labor force participation, are discussed. It is concluded that the expansion of family research is indicated for China, as well as other countries. 7 Tables, 3 Photographs. Modified AA
Data from the 1973, 1979, & 1987 Current Population Surveys are used to examine four income sources (earnings, property, child support, & government transfers) among seven family types for all families & for Latino, black, & white householder families. Findings reveal large income differences among families -- primarily due to differences in earnings -- but little change within family types over time. Increasing the work hours of adult members or relying on income support from nonresident family members is unlikely to substantially remedy the differences in income among family types, & specifically to improve the very low income of single-mother families. Other family policies are suggested. 3 Tables, 4 Figures, 14 References. Adapted from the source document.