Pension wealth and intergenerational succession in family businesses

Detalhes bibliográficos
Autor(a) principal: Kimhi, Ayal
Data de Publicação: 2009
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10400.5/10045
Resumo: lntergenerational transfers are extremely important in family businesses, because of the economic advantages of passing the business to the next generation as a 'going concern'. In order to pass the business as a 'going concern' it is necessary for the operators and the successors to work together for a specified period. This intergenerational cooperation allows the entrepreneurial family to utilize the benefits of within-family implicit old-age security arrangements. We suggest a method to calculate the present value of these benefits, denoted as 'pension wealth'. Intra-family old-age security arrangements also pose financial risks on successors that may offset the benefit the household attains from the implicit annuity arrangement. We illustrate the usefulness of this framework with data from Israeli family farms.
id RCAP_330eda6cec2f54f14b246a5fde36656d
oai_identifier_str oai:www.repository.utl.pt:10400.5/10045
network_acronym_str RCAP
network_name_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository_id_str 7160
spelling Pension wealth and intergenerational succession in family businessesFamily Businesseslntergenerational SuccessionPension Wealthlntergenerational transfers are extremely important in family businesses, because of the economic advantages of passing the business to the next generation as a 'going concern'. In order to pass the business as a 'going concern' it is necessary for the operators and the successors to work together for a specified period. This intergenerational cooperation allows the entrepreneurial family to utilize the benefits of within-family implicit old-age security arrangements. We suggest a method to calculate the present value of these benefits, denoted as 'pension wealth'. Intra-family old-age security arrangements also pose financial risks on successors that may offset the benefit the household attains from the implicit annuity arrangement. We illustrate the usefulness of this framework with data from Israeli family farms.Instituto Superior de Economia e GestãoRepositório da Universidade de LisboaKimhi, Ayal2015-11-04T09:59:11Z20092009-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.5/10045engKimhi, Ayal (2009). "Pension wealth and intergenerational succession in family businesses". Portuguese Journal of Management Studies, XIV(2):177-190info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-03-06T14:40:25Zoai:www.repository.utl.pt:10400.5/10045Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T16:56:34.479783Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Pension wealth and intergenerational succession in family businesses
title Pension wealth and intergenerational succession in family businesses
spellingShingle Pension wealth and intergenerational succession in family businesses
Kimhi, Ayal
Family Businesses
lntergenerational Succession
Pension Wealth
title_short Pension wealth and intergenerational succession in family businesses
title_full Pension wealth and intergenerational succession in family businesses
title_fullStr Pension wealth and intergenerational succession in family businesses
title_full_unstemmed Pension wealth and intergenerational succession in family businesses
title_sort Pension wealth and intergenerational succession in family businesses
author Kimhi, Ayal
author_facet Kimhi, Ayal
author_role author
dc.contributor.none.fl_str_mv Repositório da Universidade de Lisboa
dc.contributor.author.fl_str_mv Kimhi, Ayal
dc.subject.por.fl_str_mv Family Businesses
lntergenerational Succession
Pension Wealth
topic Family Businesses
lntergenerational Succession
Pension Wealth
description lntergenerational transfers are extremely important in family businesses, because of the economic advantages of passing the business to the next generation as a 'going concern'. In order to pass the business as a 'going concern' it is necessary for the operators and the successors to work together for a specified period. This intergenerational cooperation allows the entrepreneurial family to utilize the benefits of within-family implicit old-age security arrangements. We suggest a method to calculate the present value of these benefits, denoted as 'pension wealth'. Intra-family old-age security arrangements also pose financial risks on successors that may offset the benefit the household attains from the implicit annuity arrangement. We illustrate the usefulness of this framework with data from Israeli family farms.
publishDate 2009
dc.date.none.fl_str_mv 2009
2009-01-01T00:00:00Z
2015-11-04T09:59:11Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10400.5/10045
url http://hdl.handle.net/10400.5/10045
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv Kimhi, Ayal (2009). "Pension wealth and intergenerational succession in family businesses". Portuguese Journal of Management Studies, XIV(2):177-190
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Instituto Superior de Economia e Gestão
publisher.none.fl_str_mv Instituto Superior de Economia e Gestão
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron_str RCAAP
institution RCAAP
reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
repository.mail.fl_str_mv
_version_ 1799131047916470272

Registros relacionados