The Experts below are selected from a list of 360 Experts worldwide ranked by ideXlab platform
Fausto Panunzi - One of the best experts on this subject based on the ideXlab platform.
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Inheritance Law and investment in family firms
The American Economic Review, 2010Co-Authors: Andrew Ellul, Marco Pagano, Fausto PanunziAbstract:Entrepreneurs may be legally bound to bequeath a minimal stake to noncontrolling heirs. The size of this stake can reduce investment in family firms, by reducing the future income they can pledge to external financiers. Using a purpose-built indicator of the permissiveness of Inheritance Law and data for 10,004 firms from 38 countries in 1990–2006, we find that stricter Inheritance Law is associated with lower investment in family firms but does not affect investment in nonfamily firms. Moreover, as the model predicts, Inheritance Law affects investment only in family firms that experience a succession. (JEL G31, G32,
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Inheritance Law and investment in family firms
Social Science Research Network, 2009Co-Authors: Andrew Ellul, Marco Pagano, Fausto PanunziAbstract:Entrepreneurs may be legally bound to bequeath a minimal stake to non-controlling heirs. The size of this stake can reduce investment in family firms, by reducing the future income they can pledge to external financiers. Using a purpose-built indicator of the permissiveness of Inheritance Law and data for 10,004 firms from 38 countries in 1990-2006, we find that stricter Inheritance Law is associated with lower investment in family firms, but does not affect investment in non-family firms. Moreover, as the model predicts, Inheritance Law affects investment only in family firms that experience a succession.
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Inheritance Law and investment in family firms
Research Papers in Economics, 2009Co-Authors: Andrew Ellul, Marco Pagano, Fausto PanunziAbstract:Entrepreneurs may be constrained by the Law to bequeath a minimal stake to non-controlling heirs. The size of this stake can reduce investment in family firms, by reducing the future income they can pledge to external financiers. Using a purpose-built indicator of the permissiveness of Inheritance Law and data for 10,245 firms from 32 countries over the 1990-2006 interval, we find that stricter Inheritance Law is associated with lower investment in family firms, while it leaves investment unaffected in non-family firms. Moreover, as predicted by the model, Inheritance Laws affects investment only in family firms that experience a succession.
Joshua C Tate - One of the best experts on this subject based on the ideXlab platform.
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codification of late roman Inheritance Law fideicommissa and the theodosian code
Tijdschrift Voor Rechtsgeschiedenis-revue D Histoire Du Droit-the Legal History Review, 2008Co-Authors: Joshua C TateAbstract:It has long been known that most of the private Law content of the Theodosian Code has not been preserved independently of the Lex Romana Visigothorum. Certain constitutions, not contained in the LRV but dating to the period covered by the CT, have survived in the Code of Justinian. This article discusses this problem with respect to a particular topic: fideicommissa. The article discusses whether a particular constitution, CJ 6.37.21, might have been included in the CT, either as part of a general rubric concerning Inheritance or as part of a separate rubric on fideicommissa, and concludes by suggesting what the constitution might have looked like had it been under a separate heading.
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codification of late roman Inheritance Law fideicommissa and the theodosian code
Social Science Research Network, 2008Co-Authors: Joshua C TateAbstract:It has long been known that most of the private Law content of the Theodosian Code has not been preserved independently of the Lex Romana Visigothorum, or Breviary of Alaric. Certain constitutions, not contained in the Breviary but dating to the period covered by the Theodosian Code, have survived in the Code of Justinian. There has been debate, however, as to whether all of these constitutions were contained in the Theodosian Code. This Article discusses this problem with respect to a particular topic: fideicommissa. The Article considers whether a particular constitution, CJ 6.37.21, might have been included in the Theodosian Code either as part of a general rubric concerning Inheritance or as part of a separate rubric on fideicommissa, and concludes by suggesting what the constitution might have looked like had it been included under a separate heading.
Anne L Alstott - One of the best experts on this subject based on the ideXlab platform.
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family values and the Law of Inheritance
Social Science Research Network, 2009Co-Authors: Anne L AlstottAbstract:This review essay examines Jens Beckert's new book, Inherited Wealth, which shows how values of liberty, equality, family, and economic prosperity recurred in debates conducted across three countries and three centuries. The review essay suggests that modern-day Washington lobbyists are not alone in invoking family values to oppose limitations on Inheritance. The historical debates are full of claims about how different Inheritance Law regimes support or undermine the family - even as conceptions of the family and its personal and political meanings have changed. The essay offers three examples: the abolition of entails, the evolution of testamentary freedom, and the Law of intestacy.
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family values Inheritance Law and Inheritance taxation
Social Science Research Network, 2009Co-Authors: Anne L AlstottAbstract:This symposium paper, originally presented at the September 19, 2008 NYU Tax Law Review Symposium on Inheritance taxation, begins to examine what it might mean for the Law to protect a "right to use one's resources to benefit one's family." The paper draws on historical debates over Inheritance Law to identify and examine three rather different ideals of the family that have recurred in various debates over time. The analysis shows that, while one can interpret values associated with family life in such a way as to oppose the taxation of Inheritance, there are equally plausible interpretations according to which the family can co-exist peaceably with the taxation of Inheritance, at least in some form. And this basic point holds whether one conceives of the family in liberal terms, in conventional terms, or in functional terms. But although each vision of the family might co-exist with Inheritance taxation, the three ideals do have markedly different implications for the terms of Inheritance Law and Inheritance taxation.
Michelle Cottier - One of the best experts on this subject based on the ideXlab platform.
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adapting Inheritance Law to changing social realities questions of methodology from a comparative perspective
Oñati Socio-Legal Series, 2014Co-Authors: Michelle CottierAbstract:This article discusses examples of Inheritance Law reform in different countries all dealing with the current transformations of family structures. The first part analyses discussions in US and English Law on the intestate share of spouses in second or subsequent marriages in relation to the share of the children of the deceased. The second part summarises the author’s own suggestions for the reform of Swiss Inheritance Law having regard to empirical social science literature on changing family realities. The examples from the three legal systems reveal that, although the relationship between the “Is” and the “Ought” is fundamentally different depending on the legal tradition, in both the Anglo-American and the continental European context the use of social science knowledge in Inheritance Law reform is currently predominantly based on a model of social science as a mere adjunct of legal studies. The author argues in the third part of the article that, especially for the complex situation of blended families, genuine transdisciplinary research could be a promising means of developing innovative solutions for Inheritance Law reform.
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adapting Inheritance Law to changing social realities questions of methodology from a comparative perspective
Social Science Research Network, 2014Co-Authors: Michelle CottierAbstract:English Abstract: This article discusses examples of Inheritance Law reform in different countries all dealing with the current transformations of family structures. The first part analyses discussions in US and English Law on the intestate share of spouses in second or subsequent marriages in relation to the share of the children of the deceased. The second part summarises the author’s own suggestions for the reform of Swiss Inheritance Law having regard to empirical social science literature on changing family realities. The examples from the three legal systems reveal that, although the relationship between the “Is” and the “Ought” is fundamentally different depending on the legal tradition, in both the Anglo-American and the continental European context the use of social science knowledge in Inheritance Law reform is currently predominantly based on a model of social science as a mere adjunct of legal studies. The author argues in the third part of the article that, especially for the complex situation of blended families, genuine transdisciplinary research could be a promising means of developing innovative solutions for Inheritance Law reform.Spanish Abstract: Este articulo analiza ejemplos de reformas de la legislacion sobre sucesiones en paises que tienen en cuenta las transformaciones actuales de las estructuras familiares. La primera parte analiza los debates en el ambito de la legislacion en casos de intestados en Estados Unidos e Inglaterra, sobre la porcion correspondiente a las esposas en segundas nupcias o posteriores, en relacion a la porcion de los hijos del fallecido. La segunda parte recoge las sugerencias de la autora para reformar la ley de sucesiones en Suiza, teniendo en cuenta la literatura empirica de ciencias sociales que trata las realidades cambiantes de la familia. Los ejemplos de los tres sistemas juridicos ponen de manifiesto que, aunque la relacion entre lo que "es" y lo que "deber ser" es fundamentalmente diferente en funcion de la tradicion juridica, en el contexto angloamericano y en el europeo continental, el conocimiento de las ciencias sociales se usa basicamente como una mera herramienta auxiliar de los estudios juridicos, a la hora de reformar la legislacion sobre sucesiones.
Andrew Ellul - One of the best experts on this subject based on the ideXlab platform.
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Inheritance Law and investment in family firms
The American Economic Review, 2010Co-Authors: Andrew Ellul, Marco Pagano, Fausto PanunziAbstract:Entrepreneurs may be legally bound to bequeath a minimal stake to noncontrolling heirs. The size of this stake can reduce investment in family firms, by reducing the future income they can pledge to external financiers. Using a purpose-built indicator of the permissiveness of Inheritance Law and data for 10,004 firms from 38 countries in 1990–2006, we find that stricter Inheritance Law is associated with lower investment in family firms but does not affect investment in nonfamily firms. Moreover, as the model predicts, Inheritance Law affects investment only in family firms that experience a succession. (JEL G31, G32,
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Inheritance Law and investment in family firms
Social Science Research Network, 2009Co-Authors: Andrew Ellul, Marco Pagano, Fausto PanunziAbstract:Entrepreneurs may be legally bound to bequeath a minimal stake to non-controlling heirs. The size of this stake can reduce investment in family firms, by reducing the future income they can pledge to external financiers. Using a purpose-built indicator of the permissiveness of Inheritance Law and data for 10,004 firms from 38 countries in 1990-2006, we find that stricter Inheritance Law is associated with lower investment in family firms, but does not affect investment in non-family firms. Moreover, as the model predicts, Inheritance Law affects investment only in family firms that experience a succession.
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Inheritance Law and investment in family firms
Research Papers in Economics, 2009Co-Authors: Andrew Ellul, Marco Pagano, Fausto PanunziAbstract:Entrepreneurs may be constrained by the Law to bequeath a minimal stake to non-controlling heirs. The size of this stake can reduce investment in family firms, by reducing the future income they can pledge to external financiers. Using a purpose-built indicator of the permissiveness of Inheritance Law and data for 10,245 firms from 32 countries over the 1990-2006 interval, we find that stricter Inheritance Law is associated with lower investment in family firms, while it leaves investment unaffected in non-family firms. Moreover, as predicted by the model, Inheritance Laws affects investment only in family firms that experience a succession.