Profit Distribution Policy in Family Enterprises
The calibration of the dividend policy is an issue in almost all family-owned businesses. Perhaps less so in the first generation, but more so in the second or subsequent generation. The challenge is to find reasons for distributing profits at all and if
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Hermut Kormann Birgit Suberg Editors
Topics of Family Business Governance Insights on Structures, Strategies, and Executives
Management for Professionals
The Springer series Management for Professionals comprises high-level business and management books for executives. The authors are experienced business professionals and renowned professors who combine scientific background, best practice, and entrepreneurial vision to provide powerful insights into how to achieve business excellence.
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Hermut Kormann • Birgit Suberg Editors
Topics of Family Business Governance Insights on Structures, Strategies, and Executives
Editors Hermut Kormann Zeppelin University Friedrichshafen, Baden-Württemberg Germany
Birgit Suberg Xi’an Jiaotong-Liverpool University Shanghai, China
ISSN 2192-8096 ISSN 2192-810X (electronic) Management for Professionals ISBN 978-3-030-58018-6 ISBN 978-3-030-58019-3 (eBook) https://doi.org/10.1007/978-3-030-58019-3 # The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2021 This work is subject to copyright. All rights are solely and exclusively licensed by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors, and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, expressed or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. Cover illustration: https://www.shutterstock.com/en/image-photo/two-hands-trying-connect-couple-puzzle1097553284 (Shutterstock Royalty-free stock photo ID: 1097553284). This Springer imprint is published by the registered company Springer Nature Switzerland AG. The registered company address is: Gewerbestrasse 11, 6330 Cham, Switzerland
Preface
The benefits of a board institution, even for a privately held family-owned enterprise (FOE), are well-documented. Consequently, there is an abundant literature on why and how to design a board structure for FOEs. Certainly, the structure of the institutions of governance is important. But, eventually, the contribution by the board
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