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Sund, Lars-Göran
Publications (10 of 39) Show all publications
Haag, K. & Sund, L.-G. (2016). Divorce in the family business: unfolding the legal problems by learning from practice. Journal of Family Business Management, 6(1), 81-96
Open this publication in new window or tab >>Divorce in the family business: unfolding the legal problems by learning from practice
2016 (English)In: Journal of Family Business Management, ISSN 2043-6238, E-ISSN 2043-6246, Vol. 6, no 1, p. 81-96Article in journal (Refereed) Published
Abstract [en]

Purpose – The purpose of this paper is to explore the case of divorce in family business from a legal perspective and highlight the problems of applying family law in the family business context.

Design/methodology/approach – The authors rely on legal analysis and interviews with estate distribution executors to discuss problems with the legal rules and how they are practiced.

Findings – The findings show that the law is ill fitted to the situation where there is a family business included in the division of marital property. In divorce, family law dictates the division of marital property and the family business is reduced to an asset to be divided like any other. Critical issues are identified and elaborated.

Research limitations/implications – Divorce and other disruptions to the family system should be considered in family business consultancy among other threats to the business. The legal perspective on divorce in the family business offered here primarily concerns ownership issues. The impact of divorce on management is equally in need of exploration, which is the suggestion for further studies.

Practical implications – The paper illuminates in which ways the business is hampered from divorcing owners and discuss critical issues with applying family law in a family business context. Social implications – Policymakers should establish rules in which shares in an unlisted business are by default assigned to separate property until something else is contracted.

Originality/value – New light is shed on the practical problems of interpreting family law in a family business context advancing the understanding of family aspects in family business management.

Keyword
Ownership, Family dynamics, Divorce, Division of marital property, Family law
National Category
Law Business Administration
Identifiers
urn:nbn:se:hj:diva-29691 (URN)10.1108/JFBM-06-2015-0021 (DOI)000376977200005 ()
Available from: 2016-04-01 Created: 2016-03-31 Last updated: 2017-11-30Bibliographically approved
Haag, K., Sund, L.-G. & Almlöf, H. (2016). Ownership protection and exit in family firms: Good in theory but how about practice?. In: : . Paper presented at The EIASM 12th workshop on family firm management research 2016, May 12-14, Zwolle, the Netherlands.
Open this publication in new window or tab >>Ownership protection and exit in family firms: Good in theory but how about practice?
2016 (English)Conference paper, Oral presentation with published abstract (Refereed)
Keyword
family business, ownership, protection, exit, law
National Category
Economics and Business
Identifiers
urn:nbn:se:hj:diva-31041 (URN)
Conference
The EIASM 12th workshop on family firm management research 2016, May 12-14, Zwolle, the Netherlands
Available from: 2016-07-04 Created: 2016-07-04 Last updated: 2016-08-16Bibliographically approved
Sund, L.-G., Melin, L. & Haag, K. (2015). Intergenerational ownership succession: Shifting the focus from outcome measurements to preparatory requirements. The Journal of Family Business Strategy, 6(3), 166-177
Open this publication in new window or tab >>Intergenerational ownership succession: Shifting the focus from outcome measurements to preparatory requirements
2015 (English)In: The Journal of Family Business Strategy, ISSN 1877-8585, E-ISSN 1877-8593, ISSN 1877-8585, Vol. 6, no 3, p. 166-177Article in journal (Refereed) Published
Abstract [en]

This article contributes to the family business succession literature by (1) addressing ownership succession rather than management succession, (2) recommending a combination of legal and psychological perspectives on ownership to advance our understanding and (3) suggesting a preparatory approach to succession. Measuring the success of management succession has mainly been undertaken by assessing outcomes. Learning retrospectively why a succession was (un)successful may deepen our understanding of the process, but it is not particularly helpful to the business in question. We propose an alternative method for ownership succession: a preparatory approach that establishes requirements to fulfill before the succession takes place. These requirements are presented in a model that considers both the legal/financial and the psychological aspects of ownership and are formulated to improve intergenerational ownership succession and the post-succession prosperity of the firm.

Keyword
Ownership, Succession, Preparation, Legal ownership, Psychological ownership
National Category
Business Administration
Identifiers
urn:nbn:se:hj:diva-27977 (URN)10.1016/j.jfbs.2015.07.001 (DOI)000362135800004 ()2-s2.0-84941171017 (Scopus ID)
Available from: 2015-09-17 Created: 2015-09-17 Last updated: 2017-12-04Bibliographically approved
Haag, K., Sund, L.-G. & Languilaire, J.-C. (2015). Ownership rights of children in family firms: At the boundaries of law and business. In: : . Paper presented at 11th Workshop on Family Firm Management Research, Shifting Boundaries in Family Firm Research, Lyon, May 29-30, 2015..
Open this publication in new window or tab >>Ownership rights of children in family firms: At the boundaries of law and business
2015 (English)Conference paper, Published paper (Refereed)
Keyword
family business, ownership rights, children, law
National Category
Business Administration
Identifiers
urn:nbn:se:hj:diva-29130 (URN)
Conference
11th Workshop on Family Firm Management Research, Shifting Boundaries in Family Firm Research, Lyon, May 29-30, 2015.
Available from: 2016-01-19 Created: 2016-01-19 Last updated: 2016-01-20Bibliographically approved
Sund, L.-G., Andersson, J. & Haag, K. (2015). Share transfer restrictions and family business: The minority shareholder perspective. European Business Law Review, 26(3), 437-450
Open this publication in new window or tab >>Share transfer restrictions and family business: The minority shareholder perspective
2015 (English)In: European Business Law Review, ISSN 0959-6941, E-ISSN 1875-841X, Vol. 26, no 3, p. 437-450Article in journal (Refereed) Published
Abstract [en]

Small- and medium-sized enterprises (SME's), of which most are family owned businesses (FOB's), play a crucial role in upholding many of the topics at the heart of the International Conference on Applied Business Research. They are especially noteworthy in relation to economic development, growth and innovation, sustainable development and rural development. The practice of FOBs is quite different from large companies with scattered ownership (Nordqvist, Hall & Melin, 2009). The practice turn in social science, well embraced in management studies (Vaara & Whittington, 2012), is relevant to develop new knowledge in the field of business law. We study the practice of shareholder protection and aim to narrow the gap between theory and practice regarding business law and FOBs. An entrepreneurially friendly and inspiring environment presupposes that business owners can protect their ownership positions against unwanted acquisitions of shares, as well as that they are not unwillingly locked-in in a position as minority owners. In addition, this requires legal rules that are not unnecessarily costly, time and energy consuming to comply with, administer and uphold. Legislators should, if possible, thus provide a set of rules that facilitates for owners to effectively avoid both unwanted acquisitions of shares and locked-in positions. We conclude that default rules in the form of e. g. a right of first refusal should be included in the articles, since the lack of an open market place anyhow makes it highly difficult to sell the shares. Furthermore, we find it important to allow also clauses that enhance the possibility to avoid locked-in positions in the articles whereas most national legislations today permit only clauses that contribute to the protection of ownership positions. Key words: family business development, small-medium sized enterprises (SME), business law, share transfer restrictions, minority shareholders, articles of association, shareholder's agreement, practical implications.

Keyword
Family business, share transfer restrictions, minority shareholder
National Category
Social Sciences Economics and Business
Identifiers
urn:nbn:se:hj:diva-27474 (URN)
Available from: 2015-06-25 Created: 2015-06-25 Last updated: 2017-12-04Bibliographically approved
Sund, L.-G. & Vackermo, M. (2015). The interest theory, children’s rights and social authorities. The International Journal of Children's Rights, 23(4), 752-768
Open this publication in new window or tab >>The interest theory, children’s rights and social authorities
2015 (English)In: The International Journal of Children's Rights, ISSN 0927-5568, E-ISSN 1571-8182, Vol. 23, no 4, p. 752-768Article in journal (Refereed) Published
Abstract [en]

The principle of ‘the best interests of the child’ (art. 3 of the Convention on the Rights of the Child) is sometimes put forward as being the leading guide, i.e. it will in the long run – via, e.g. court cases and legal writing – give accurate and detailed information on the scope of children’s rights and the responsibilities of, e.g., parents. We claim that this principle does not provide us with the necessary analytical tools to enhance the legal rights of children. To this end it is more efficient to accept the explanatory power and apply the elements of the Interest theory, i.e. the chain of children’s interests and rights, obligations of e.g. parents and sanctions against failures. In this context we also illustrate that rights can have different strengths by briefly examining the role of social authorities in relation to the rights of children.

Keyword
interest theory; children’s rights and social authorities
National Category
Law
Identifiers
urn:nbn:se:hj:diva-28900 (URN)10.1163/15718182-02304002 (DOI)
Available from: 2016-01-08 Created: 2016-01-08 Last updated: 2017-12-01Bibliographically approved
Bjuggren, P.-O. & Sund, L.-G. (2014). A contractual perspective on succession in family firms: a stakeholder view. European Journal of Law and Economics, 38(2), 211-225
Open this publication in new window or tab >>A contractual perspective on succession in family firms: a stakeholder view
2014 (English)In: European Journal of Law and Economics, ISSN 0929-1261, E-ISSN 1572-9990, Vol. 38, no 2, p. 211-225Article in journal (Refereed) Published
Abstract [en]

This paper analyses succession in family firms from a contractual perspective. A firm is regarded as a nexus of contractual relations with owners, employees, suppliers of goods and services and customers. These contractual parties are in differing degrees tied to the firm through asset specificities. Succession can affect the value of such assets. In this sense they become stakeholders with vested interests in the succession process. The theoretical discussion of affected stakeholdersis backed up by a survey study of 143 Swedish family-owned businesses that have been subject to succession. The results show that the opinions of close shareholders such as family members and incumbent mangers as well as those of other stakeholders such as suppliers and customers are important.

Place, publisher, year, edition, pages
Springer, 2014
Keyword
Succession, family firms, mutual dependence, asset specificity, nexus of contracts, close and non-close stakeholders
National Category
Social Sciences
Identifiers
urn:nbn:se:hj:diva-24769 (URN)10.1007/s10657-012-9331-6 (DOI)000342075600002 ()2-s2.0-84859728233 (Scopus ID)
Available from: 2014-09-18 Created: 2014-09-18 Last updated: 2017-12-05Bibliographically approved
Bjuggren, P.-O., Palmberg, J., Sund, L.-G. & Haag, K. (2014). The Dichotomy and Incongruity of Financing a Family Owned Business and Securing Ownership Positions. In: : . Paper presented at 3rd International Forum on Indigenous Management Practices (3rd IFIMP) Conference, Vientiane, 16-19 March, 2014.
Open this publication in new window or tab >>The Dichotomy and Incongruity of Financing a Family Owned Business and Securing Ownership Positions
2014 (English)Conference paper, Oral presentation with published abstract (Other academic)
Keyword
family business
National Category
Economics and Business
Identifiers
urn:nbn:se:hj:diva-23744 (URN)
Conference
3rd International Forum on Indigenous Management Practices (3rd IFIMP) Conference, Vientiane, 16-19 March, 2014
Available from: 2014-05-03 Created: 2014-05-03 Last updated: 2015-07-03Bibliographically approved
Sund, L.-G., Haag, K. & Linhard, A. (2013). Impact of divorce on family business: the legal aspects. In: : . Paper presented at International Academy for the Study of the Jurisprudence of the Family (IASJF), June 10-11, New York City, New York.
Open this publication in new window or tab >>Impact of divorce on family business: the legal aspects
2013 (English)Conference paper, Oral presentation with published abstract (Other academic)
Keyword
family business divorce division of matrimonial property stakeholder instruments
National Category
Law
Identifiers
urn:nbn:se:hj:diva-22979 (URN)
Conference
International Academy for the Study of the Jurisprudence of the Family (IASJF), June 10-11, New York City, New York
Available from: 2014-01-07 Created: 2014-01-07 Last updated: 2015-10-27Bibliographically approved
Sund, L.-G. & Melin, L. (2013). Intergenerational ownership succession: a stakeholder perspective. European Business Law Review, 24(4), 407-429
Open this publication in new window or tab >>Intergenerational ownership succession: a stakeholder perspective
2013 (English)In: European Business Law Review, ISSN 0959-6941, E-ISSN 1875-841X, Vol. 24, no 4, p. 407-429Article in journal (Refereed) Published
Abstract [en]

The key to a successful transfer, of ownership of family-owned and headed businesses, to the younger generation is in most cases the incumbent. However, there are close and non-close stakeholders who wish to protect their interests. The main purpose of this article is to map the stakeholders in two models, as well as to analyze their interests and possible legal tools when intervening in an ownership succession process. Our reasoning is supported by descriptive data from a recent empirical study. Incumbents are presumed to be aware of the conflicting interests and their potential impacts. It is no wonder, that they hesitate to take the necessary initiative in a succession process! We analyze how consultants can provide a helping hand.

National Category
Social Sciences
Identifiers
urn:nbn:se:hj:diva-22691 (URN)
Available from: 2013-12-12 Created: 2013-12-12 Last updated: 2017-12-06Bibliographically approved
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