Search results for: testamentary succession
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 115

Search results for: testamentary succession

115 Closed Will in Russian Civil Law: Specific Aspects

Authors: Farida Buniatova

Abstract:

Testamentary succession rules in the Russian Federation have been developing intensively since the collapse of the Soviet Union. The article analyses specific aspects of the closed will in Russian civil law. It discusses advantages and drawbacks of the closed will. In addition to that, the paper focuses on the will drafting and attestation procedures. The research provides ways to improve and enhance Russian legislation governing the closed will.

Keywords: closed will, testamentary succession, testator, will

Procedia PDF Downloads 383
114 The Neglected Elements of Implementing Strategic Succession Management in Public Organizations

Authors: François Chiocchio, Mahshid Gharibpour

Abstract:

Regardless of the extent to which succession management is implemented in the private sector, it is still overlooked in the public sector. Traditional succession management is evolving providing a better alignment between business strategies and HR strategies. Succession management brings sustainable effectiveness for succession programs through career path development, knowledge and skill transfer, job retention, as well as high-potential candidates’ empowerment for upcoming vacancies. By way of a systematic literature review, we bring into focus strategic succession management in public organizations and discuss best ways of implementation. 

Keywords: succession management, strategic succession management, public organization, succession management model

Procedia PDF Downloads 318
113 Influence of Leadership Tenure and Succession on Institutional Goal Attainment in the University of Ibadan, Nigeria (2006-2015)

Authors: Ismial A. Raji, Blessing Egbezieme Oladejo, Babatunde Kasim Oladele

Abstract:

The study investigated the influence of leadership succession and tenure on goal attainment in the University of Ibadan. Leadership styles, tenure politics, organization succession, leadership succession, goal attainment in terms of research, teaching and public services were considered. The study adopted a descriptive survey design. The population of the study was 250 consisting 90 academic staff, 100 Senior Non-Teaching Staff and 60 Junior Non-Teaching Staff. Questionnaire was the instrument used to collect data. The instrument reliability coefficient was 0.88. Data collected were analysed with descriptive statistics. The result revealed that a significant relationship exist between leadership succession, tenure and goal attainment (r= .648, 0.466 and 0.479p< .0.5) Also, There was no statistical significant interaction between the effects of leadership tenure and leadership succession on goal attainment, F (38, 131) = 1.356, p = .104. The main influence of the independent variables on goal attainment were significant at F (24, 131) = 1.682, p=.034 and F (26, 131) = 2.182, p=.002. The study concluded that leadership succession and tenure are key factors for goal attainment in the University of Ibadan. The study recommended that an effective leadership succession and tenure processes should be maintained and sustained by higher institutions of learning.

Keywords: leadership tenure, style, succession, institutional goal

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112 Effect of Company Value, Leadership, and Ownership Succession on Financial Performance of Family Business

Authors: Theresia Dwi Hastuti, Kristiana Haryanti, Agustine Eva Maria Soekesi

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Today's family business continues to grow in big cities and in rural areas throughout Indonesia in line with the development of the business world and global competition. This study aims to analyze the effect of company value, leadership, and ownership succession on the financial performance of the family business. The research method was carried out quantitatively with multiple regression. The respondent amounted to 63 entrepreneurs. This study found that company value, leadership succession, relationships, and communication affect the financial performance of the family business.

Keywords: company value, family business, financial performance, leadership succession, ownership succession

Procedia PDF Downloads 88
111 Family Succession and Cost of Bank Loans: Evidence from China

Authors: Tzu-Ching Weng, Hsin-Yi Chi

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This study examines the effect of family succession on the cost of bank loans and non-price contractual terms. We use a unique dataset from China and find that lending banks are likely to charge high-interest rates and offer tight contractual terms, such as loan maturity and collateral requirement, for family succession firms. These findings indicate that information and default risks may arise after subsequent family successions. We also find that family succession firms can reduce the cost of bank loans by hiring top-tier auditors to enhance financial reporting credibility. This finding suggests that professional and high-quality auditors can provide extremely valuable services to family succession firms.

Keywords: family succession, cost of bank loans, loan contract terms, top-tier auditor

Procedia PDF Downloads 52
110 Family Business Succession through the Eye of the Upper Echelon Theory: A Phenomenological Approach

Authors: Ruswiati Suryasaputra, Linda Salim

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This concept paper, initially a proposal for the completion of the degree of Doctor of Philosophy, is seeking to gain more understanding of family business succession in order to extend the average lifespan of family business that has shrunken significantly for the past 20 years. While multitude studies have been done in family business succession, the average lifespan of a family business continues to decline sharply over the past two decades to only 24 years, or 1.5 generations, in 2010, from 50-60 years, equivalent to 3 generations, as recently as 1990. While the qualitative approach of this study will not churn a theoretical framework unique to the family business field, it will bring to the surface important issues during a family business succession process that have been hidden behind the mostly profit-making issues that have been the main highlight of the family business field.

Keywords: family business, succession, nepotism, family studies

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109 Challenges Faced by Family-Owned Education Institutions in Nepal in Implementing Effective Succession Planning Strategies

Authors: Arpan Upadhyaya, Sunaina Kuknor

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The paper examines the succession management strategies and the preparation level of heirs in the context of family-owned educational institutions in Nepal. Sixteen in-depth, semi-structured interviews with the institution's leader were conducted. The study's findings show the lack of awareness about the importance of succession planning among the institution owners due to the availability of limited resources. The paper also provides some insights into how family ownership and management are done and the lack of formal processes in succession management strategies. It will aid researchers in considering the societal perspective of the successor, which is also a significant worry.

Keywords: effective plans, family business, interest, leadership, successor

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108 Academic Leadership Succession Planning Practice in Nigeria Higher Education Institutions: A Case Study of Colleges of Education

Authors: Adie, Julius Undiukeye

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This research investigated the practice of academic leadership succession planning in Nigerian higher education institutions, drawing on the lived experiences of the academic staff of the case study institutions. It is multi-case study research that adopts a qualitative research method. Ten participants (mainly academic staff) were used as the study sample. The study was guided by four research questions. Semi-structured interviews and archival information from official documents formed the sources of data. The data collected was analyzed using the Constant Comparative Technique (CCT) to generate empirical insights and facts on the subject of this paper. The following findings emerged from the data analysis: firstly, there was no formalized leadership succession plan in place in the institutions that were sampled for this study; secondly, despite the absence of a formal succession plan, the data indicates that academics believe that succession planning is very significant for institutional survival; thirdly, existing practices of succession planning in the sampled institutions, takes the forms of job seniority ranking, political process and executive fiat, ad-hoc arrangement, and external hiring; and finally, data revealed that there are some barriers to the practice of succession planning, such as traditional higher education institutions’ characteristics (e.g. external talent search, shared governance, diversity, and equality in leadership appointment) and the lack of interest in leadership positions. Based on the research findings, some far-reaching recommendations were made, including the urgent need for the ‘formalization’ of leadership succession planning by the higher education institutions concerned, through the design of an official policy framework.

Keywords: academic leadership, succession, planning, higher education

Procedia PDF Downloads 103
107 Intergenerational Succession within Family Businesses: The Role of Sharing and Creation Knowledge

Authors: Wissal Ben Arfi, Jean-Michel Sahut

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The purpose of this paper is to provide a deeper understanding of the succession process from a knowledge management perspective. By doing that, succession process in family businesses, as an environment for creating and sharing knowledge, was explored. Design/Methodology/Approach: To support our reasoning, we collected qualitative data through 16 in-depth interviews conducted with all decision makers involved in the family businesses succession process in France. These open-ended responses were subsequently exposed to thematic discourse analysis. Findings: Central to this exhibit is the nature and magnitude of knowledge creation and sharing among the actors within the family succession context and how can tacit knowledge sharing facilitate the succession process. We also identified factors that inhibit down the knowledge creation and sharing processes. The sharing and creation of knowledge among members of a family business appear to be a complex process that must be part of a strategy for change. This implies that it requests trust and takes a certain amount of time because it requires organizational change and a clear and coherent strategic vision that is accepted and assimilated by all the members. Professional and leadership skills are of particular importance in knowledge sharing and creation processes. In most cases, tacit knowledge is crucial when it is shared and accumulated collectively. Our findings reveal that managers should find ways of implementing knowledge sharing and creation processes while acknowledging the succession process within family firms. This study highlights the importance of generating knowledge strategies in order to enhance the performance and the success of intergenerational succession. The empirical outcomes contribute to enrich the field of succession management process and enhance the role of knowledge in shaping family performance and longevity. To a large extent, the lessons learned from the study of succession processes in family-owned businesses are that when there is a deliberate effort to introduce a knowledge-based approach, this action becomes a seminal event in the life of the organization. Originality/Value: The paper contributes to the deep understanding of interactions among actors by examining the knowledge creation and sharing processes since current researches in family succession focused on aspects such as personal development of potential, intra-family succession intention, decision-making processes in family businesses. Besides, as succession is one of the key factors that determine the longevity and the performance of family businesses, it also contributes to literature by examining how tacit knowledge is transferred, shared and created in family businesses and how this can facilitate the intergenerational succession process.

Keywords: family-owned businesses, succession process, knowledge, performance

Procedia PDF Downloads 173
106 Assessing the Leadership Succession Plan in Faith-Based Senior High Schools in Ghana and Its Associated Challenges

Authors: J. E. Cobbinah

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One of the most challenging issues confronting schools is good leadership succession planning. Experts argue that, although the idea of leadership succession planning is one of the strategies or practices that can help sustain improvement and promote continuity of good leadership, seem to have been neglected in many schools over the years. Appointment of head teachers in senior high schools is based on long service or one’s ability to demonstrate his/her competence in a leadership selection interview. There is no clear and well-structured leadership succession plan, before leadership position is filled, while school leadership succession planning seem to be an issue that nobody talks about. In faith-based schools the issue is even worse, because religious groups impose whoever they consider strong in the faith on schools as leaders, irrespective of the individual competence, ability to take up challenges associated with individuals’ preparedness to take up leadership position. Therefore, the present study examined the nature (including type) of leadership succession plans in faith-based senior high schools and its associated challenges. Convergent mixed method design was employed to effectively achieve the objectives of the study. The data collection strategies involved the use of interviews, questionnaires, and reviews of secondary data. The data was gathered from students, school leaders (head teachers, deputy heads, and head of departments), selected parents teachers associated members, school management committee members and members from school governors. The results show that governors of faith-based schools are making efforts to enhance education quality, by making school leadership accountable, the absence and the neglect of clear, and well-structured leadership succession plan has some negative outcomes. Unsustainable students’ academic performance, lack of support from existing staffs and senior leaders and lack of support in the implementation of school improvement plan. It would be concluded that, faith-based schools should focus on leadership competence and abilities in the selection process of potential school leaders to achieve a good succession plan rather than appointing leaders who are affiliates of one’s faith.

Keywords: school leadership, succession planning, faith-based schools, school governors

Procedia PDF Downloads 393
105 Methods of Post-Mining Landscape Reclamation and Their Impact on Occurrence Hymenoptera: Aculeata and Lepidoptera

Authors: Kristýna Weissová

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This study is focused on two selected model taxa of invertebrates - Hymenoptera: Aculeata and Lepidopterawithnocturnalactivity, recordedatthesitesof lignite dumps and their surroundings in the North Bohemian Lignite Basin, Czech Republic. There search was conducted on 10 landfills, 3 study areas were determined on each landfill - primary and secondary succession and recultivation. A total of 3,202 individuals belonging to 232 species and 17 families of sagebrushinsects were collected. died, 74%of the species occurred on the primary succes sionare as, that is 2x more species than on the reclaimed areas. Of the total number of species and on all areas, 60 rare species were recorded - 29 vulnerable, 21 endangered, 8 critically endangered, and 2 extinct The areas of primary succession were again confirmed to be the richest in terms of rare species, hosting 39 rare species of Hymenoptera: Aculeata. In addition, bothextinct species were represented only on plots of primary succession. The family Crabronidae had the largestre presentation of species on theareasofleft primary succession, the family Halictidae was the most represented on the reclaimed areas and areas of secondary succession. A total of 3,634 moths were collected, assigned to 262 species and 10 families. A similar number of species occurred on the primary succession and reclaimed areas, but the reclaimed area had a greater abundance. Secondary successionsiteshostedha lf as many species and alsocontainedlow abundance compared to other management types. The results show that there claimed areas host a numerically larger group and more species of moths than the successionalareas. Rare species did not occur at any site. A higher number of days in locations without water bodies, wetland vegetation, and locations with a highre presentation of woody species. It is advisable to combine individual types of landscape management in such a way as to create a colorfulmosaic that supports biodiversity. In particular, we recommend incorporating natural successionintoreclamation plans, which is a refuge for many rare species of invertebrates, which has not yetbeenroutinely and purposefully practiced.

Keywords: hymenoptera: aculeata, lepidoptera, reclamation, succession, post-mining ara

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104 Effect of Non-Legume Primary Ecological Successor on Nitrogen Content of Soil

Authors: Vikas Baliram Kalyankar

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Study of ecology is important as it plays role in development of environment engineering. With the advent of technologies the study of ecosystem structure and changes in it are remaining unnoticed. The ecological succession is the sequential replacement of plant species following changes in the environment. The present study depicts the primary ecological succession in an area leveled up to the height of five feet with no signs of plant life on it. The five quadrates of 1 meter square size were observed during the study period of six months. Rain water being the only source of water in the area increased its ecological importance. The primary successor was non- leguminous plant Balonites roxburgii during the peak drought periods in the region of the summer 2013-14. The increased nitrogen content of soil after the plant implied its role in atmospheric nitrogen fixation.

Keywords: succession, Balonites roxburgii, non-leguminous plant, ecology

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103 Effects of Soil Erosion on Vegetation Development

Authors: Josephine Wanja Nyatia

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The relationship between vegetation and soil erosion deserves attention due to its scientific importance and practical applications. A great deal of information is available about the mechanisms and benefits of vegetation in the control of soil erosion, but the effects of soil erosion on vegetation development and succession is poorly documented. Research shows that soil erosion is the most important driving force for the degradation of upland and mountain ecosystems. Soil erosion interferes with the process of plant community development and vegetation succession, commencing with seed formation and impacting throughout the whole growth phase and affecting seed availability, dispersal, germination and establishment, plant community structure and spatial distribution. There have been almost no studies on the effects of soil erosion on seed development and availability, of surface flows on seed movement and redistribution, and their influences on soil seed bank and on vegetation establishment and distribution. However, these effects may be the main cause of low vegetation cover in regions of high soil erosion activity, and these issues need to be investigated. Moreover, soil erosion is not only a negative influence on vegetation succession and restoration but also a driving force of plant adaptation and evolution. Consequently, we need to study the effects of soil erosion on ecological processes and on development and regulation of vegetation succession from the points of view of pedology and vegetation, plant and seed ecology, and to establish an integrated theory and technology for deriving practical solutions to soil erosion problems

Keywords: soil erosion, vegetation, development, seed availability

Procedia PDF Downloads 37
102 Leadership Succession and Renewal in Zimbabwe Political Parties: A Critical Analysis of the Bhora Remusango Concept

Authors: A. F. Chikerema

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Political leadership in Africa vary from the “criminalization” of the state to political leadership as “dispensing patrimony”, the “recycling” of elites and the use of state power and resources to consolidate political and economic power (Van Wyk:2007: p1). Political parties just like any other organizations always need leadership renewal and revamping, besides ideological and policy renewal. Zimbabwean politics present a shunned leadership renewal as reflected by the two champion political parties namely ZANU PF and MDC-T. Despite hot political power contestation between MDC and ZANUPF, the parties` internal structures are hinged on the two Godfather or Father figure that is Mugabe and Tsvangirai. They are the “labels “behind the two political parties. The suppressing of dissent voice on succession and renewal of leadership in the two parties has brew resistance from within and this has resulted in factional fights within the two political parties. The disgruntlement in the political parties has led to the stemming of the ‘bhoramusango concept’ from the electorate and party cadres whereby they are throwing or donating away their votes to other political parties. The ‘bhoramusango’ concept haunted ZANUPF in 2008 leading to its defeat by the opposition MDC-T .The paper takes the form of an analytic approach on leadership crisis in Zimbabwe. The narrative is framed on key concepts of leadership: namely leadership renewal and leadership succession, as agents operating within inherited structures negotiated political settlements, and form structures of leadership. Rulers gave priority to the consolidation of state power by installing party loyalists in the armed forces, civil service and local government. As part of this process, rulers have ensured consolidated power and authority.

Keywords: leadership renewal, leadership succession, ‘Bhora Musango’, political culture, political legitimacy

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101 Military Orchestrated Leadership Change in Zimbabwe and the Quest for Political Transition

Authors: Patrick Dzimiri

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This chapter discusses the military-orchestrated leadership change in Zimbabwe that transpired in November 2017. Fundamentally, the chapter provides a critical examination of military interference in the country's politics and its implications for a political transition in the post-Mugabe dispensation. This chapter offers insight into Zimbabwe's political crises propelled by the lack of a succession plan. It emerged that the succession battle within ZANU-PF got complicated by the militarisation of factionalism. The chapter builds from an extensive review of primary and secondary data sources on political developments before and post-Mugabe era. Vilfredo Pareto's (1848-18923) theory on elite circulation is deployed herein to explain the absence of a succession mechanism within ZANU-PF and the militarisation of socio-politics life Zimbabwe. The chapter argues that what transpired in Zimbabwe’s power wrangle within the ZANU-PF political elites was triggered by a lack of a clear succession policy. Building from insights offered by Pareto's theory of elite circulation, it is averred that the removal of Mugabe by the military did not herald any form of political transition but rather a mere power play of one elite replacing another. In addition, it is argued that the lack of political reform by the Mnangagwa government affirms the position that political elites seek power for personal self-actualisation and not the public good. The chapter concludes that Mnangagwa's rise to power is nothing but a new elite displacing the old elite structure and does not herald a positive transition and transformation in the politics of Zimbabwe.

Keywords: military, politics, zimbabwe, governance, political transition

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100 Leadership Values in Succession Processes

Authors: Peter Heimerl, Alexander Plaikner, Mike Peters

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Background and Significance of the Study: Family-run businesses are a decisive economic factor in the Alpine tourism and leisure industry. Within the next years, it is expected that a large number of family-run small and medium-sized businesses will transfer ownership due to demographic developments. Four stages of succession processes can be identified by several empirical studies: (1) the preparation phase, (2) the succession planning phase, (3) the development of the succession concept, (4) and the implementation of the business transfer. Family business research underlines the importance of individual's and family’s values: Especially leadership values address mainly the first phase, which strongly determines the following stages. Aim of the Study: The study aims at answering the following research question: Which leadership values are dominating during succession processes in family-run businesses in Austrian Alpine tourism industry? Methodology: Twenty-two problem-centred individual interviews with 11 transferors and their 11 transferees were conducted. Data analysis was carried out using the software program MAXQDA following an inductive approach to data coding. Major Findings: Data analysis shows that nine values particularly influence succession processes, especially during the vulnerable preparation phase. Participation is the most-dominant value (162 references). It covers a style of cooperation, communication, and controlling. Discipline (142) is especially prevailing from the transferor's perspective. It addresses entrepreneurial honesty and customer orientation. Development (138) is seen as an important value, but it can be distinguished between transferors and transferees. These are mainly focused on strategic positioning and new technologies. Trust (105) is interpreted as a basic prerequisite to run the family firm smoothly. Interviewees underline the importance to be able to take a break from family-business management; however, this is only possible when openness and honesty constitute trust within the family firm. Loyalty (102): Almost all interviewees perceive that they can influence the loyalty of the employees through their own role models. A good work-life balance (90) is very important to most of the transferors, especially for their employees. Despite the communicated importance of a good work-life-balance, but however, mostly the commitment to the company is prioritised. Considerations of regionality (82) and regional responsibility are also frequently raised. Appreciation (75) is of great importance to both the handover and the takeover generation -as appreciation towards the employees in the company and especially in connection with the family. Familiarity (66) and the blurring of the boundaries between private and professional life are very common, especially in family businesses. Familial contact and open communication with employees which is mentioned in almost all handing over. Conclusions: In the preparation phase of succession, successors and incumbents have to consider and discuss their leadership and family values of family-business management. Quite often, assistance is needed to commonly and openly discuss these values in the early stages of succession processes. A large majority of handovers fail because of these values. Implications can be drawn to support family businesses, e.g., consulting initiatives at chambers of commerce and business consultancies must address this problem.

Keywords: leadership values, family business, succession processes, succession phases

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99 Succession and Rural vs. Urban Habitat Differences of Coleoptera Species Attracted to Pig Carrions in Eskişehir Province, Turkey

Authors: Cansu Kılıç, Ferhat Altunsoy

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In this study, a total of 82 species belonging to the families Staphylinidae, Histeridae, Dermestidae, Silphidae and Cleridae within Coleptera were detected which are collected from 24 pig carrion for a duration of one year. While 12 of the carrions have been placed in rural areas, other 12 have been placed in urban areas in Eskişehir province. The distribution of these species according to months and the period that they exist on different stages of decomposition were determined. Furthermore, Coleoptera species attracted to the pig carrions both in rural and urban areas were detected and their similarities and differences were presented.

Keywords: forensic entomology, Coleoptera, succession, Turkey, rural, urban

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98 Foraminiferal Description and Biostratigraphy of Eocene Deposits in Zagros Basin (Izeh and Interior Fars Sub-Basins) in South-West of Iran

Authors: Ronak Gravand

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Eocene deposits in Zagros basin in tow zones of interior Fars and Izeh include limestone and marly limestone succession along with abundant fossils. The significance of this area is due to its hydro carbonic resources. In Dashte Kuh section, limestone and marly limestone deposits with medium to thick creamy layers containing benthic foraminifera could be seen. Bio-zones identified in such deposits include Opertorbitolites Subzone, Somalina Subzone, Alveolina Nummulites Assemblage Subzone and Nummulites fabianii Silvestriella tetraedra Assembelage Zone. In Nil Kuh section, marly limestone of the succession contain abundant plagic foraminifera. The zones identified in this succession include Morozovella aragonesis Range Zone, Hantkenina nuttalli Range Zone, Hantkenina nuttalli Turborotalia cerro-azulensis Interval Zone, Turborotalia cerro-azulensis Range Zone and Morozovella aragonesis Range Zone.

Keywords: zagros basin, foraminifera , biozone, Iran

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97 The Effects of Different Types of Herbicides Used for Lawn Maintenance on the Dynamics of Weeds in an Urban Environment

Authors: Yetunde I. Bulu, Moses B. Adewole, Julius O. Faluyi

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This study investigates the effect of aggressive application of herbicide on weed succession in an urban environment in Ile-Ife, Osun State. An inspection of the communities was carried out to identify sites maintained by herbicides (test plots) and those without herbicide history (control plots). Four different experimental plots located at Olasode, Eleweran, Ife City and Parakin within Ile-Ife town were monitored during the study. Comprehensive enumeration and identification of plant populations to species level was carried out on each of the plots and at every visit to determine the direction of succession. Index of similarities was used to determine the relationship in plant species composition between plots treated with herbicide and the untreated plots. The trend of increasing plant species was observed in all the study plots. Low Similarity Index between the treated plots and the control vegetation was observed at all visitations. Low similarity was also observed between the above-ground vegetation and the seed bank in all the plots. The study concluded that the weed population observed from the experimental plots showed an increase in species richness and diversity when the plots were left to recover compared to the control plots.

Keywords: herbicide, index of similarity, population, soil seed bank, succession

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96 Equal Right to Inherit: A South African Perspective

Authors: Rika van Zyl

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South Africa’s racial discrimination past has led to the drafting of the Constitution with the Bill of Rights for the people of South Africa. The Bill of Rights prohibits the state from unfairly discriminating directly or indirectly on certain grounds, one of which is race and another is gender. This has forced changes to the law of succession. The customary law rule of male primogeniture was abolished to ensure that women were not excluded from the intestate succession of the male head of the family in 2005. It was said that this rule cannot be reconciled with the notions of equality and human dignity contained in the Bill of Rights. The freedom of testation has further come under fire in South Africa, where it was found to be unfair discrimination and against public policy to exclude a specific gender (women) from inheriting in a private will. Although no one has the right to inherit in South Africa, any person with an interest can approach the court alleging that a right in the Bill of Rights has been infringed. A will that is found inconsistent with the South African Bill of Rights then cannot be enforced. Recent case law found that to leave out a specific gender (women) from a will, based entirely on the fact that they are of said specific gender, is in contravention of the Constitution and should, therefore, be declared invalid. It was said that the courts should take a transformative constitutional approach when equality rights are affected. Otherwise, the historical and insidious unequal distribution of wealth in South Africa will continue along the fault lines such as gender. This decision has opened the debate on the extent to which the state can interfere with the private autonomy of an individual who is deceased. Some of these arguments will be discussed, including the ambit of public policy in this regard.

Keywords: equality, discrimination, succession, public policy

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95 Intestacy and Business Continuity among Entrepreneurs in Ondo State, Nigeria

Authors: Igbekoyi Olusola Esther, Olurankinse Felix

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This paper examined the factors that militate against Will writing among entrepreneurs in Ondo State Nigeria and the effect of intestate death on business continuity after the exit of the entrepreneurs. The paper was written with a view to providing information on the reasons why intestate death is common among entrepreneurs in Ondo State and the effects on continuity of business after death of the initial owners. Data were obtained from primary source through the administration of questionnaires to entrepreneurs drawn from 50 registered manufacturing companies. These companies have been in existence for a minimum of 10 years with minimum staff strength of 20 workers each. These companies were selected using the purposive random sampling technique in order to capture firms that meet the requirements of this paper. Data obtained were analyzed using descriptive statistics, chi-square and regression analysis. The findings of the paper revealed that administration of Will, traditional beliefs, Will execution procedures, age and non- admissibility of Wills in court are the major factors that militates against Will writing among entrepreneurs in Ondo State. It was also discovered that chaos and instability in business, reduction in sales and productivity, poor succession planning, polygamous nature of marriages, difficulty in sourcing for funds and gender preference are joint predictors of business continuity in event intestate death which is evident in the result where R2 =.954;(F 6, 26)= 89.644; (P < 0.01). The individual beta co-efficient, t- statistics and significance of each variable revealed that gender preference (.735; 7.031; .000) and poor succession plan (.402; 2.840; .009) have significant positive effect on business continuity; while reduction in sales and productivity (-.059; -.335; .740) and difficulty in sourcing for funds (-.217; -1.367; .188) have negative effect; other variables also have positive relationship but they are not significant. It is therefore concluded that business continuity after the exit of the entrepreneur is highly dependent on the rebuilding of confidence on Wills administration in ondo state Nigeria, proper succession planning and elimination of gender preferences.

Keywords: intestacy, business continuity, entrepreneurs, will, succession planning

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94 Effects of Chemical and Organic Fertilizer Application on Yield of Herbaceous Crops in Succession

Authors: Tarantino E., Disciglio G., Gagliardi A., Gatta G., Tarantino A.

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Fertilizer is a critical input for improving production and increasing crop yields. Consecutive experimental trials during six years (from 2010-2015) were carried out in Apulia region (south-eastern Italy) on seven crops grown in cylinder pots. The aim was to determinate the effects of chemical and organic fertilizer on marketable yield and other parameters of processing tomato (Lycopersicum esculentum L., cv Docet), lettuce (Lactuca sativa L., cv Canasta), cauliflower (Brassica oleracea L., cv Casper), pepper (Capsicum annum L., cv Akron), fennel (Foeniculum vulgare L., cv Tarquinia), eggplant (Solanum melongena L. cv Primato F1) and chard (Beta vulgaris L., Argentata). At harvest the quail-quantitative yield characteristics of each crop were determined. All of the experimental data were subjected to analysis of variance (ANOVA). Results showed that the yields for all of these crops were greater under the chemical system than the organic system whereas quite variable results were generally observed for the other characteristics of the yield.

Keywords: fertilizers, herbaceous crops, yield characteristics, succession

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93 A Development Model of Factors Affecting Decision Making to Select Successor in Family Business of Thailand

Authors: Polvasut Mahaiamsiri, Piraphong Foosiri

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The purpose of this research is to explore the model of factors affecting decision making to select successor in family business of Thailand. A Structural Equation Model (SEM) was created from relevant theories and researches. Consequently, examine and analyse, the causal relation factors of Succession Plan, Recruitment Process and Strategic Planning, whether they have direct or indirect effects on Decision Making to Select Successor in family business. Units of analysis are selected from the family business, totalling 300 sampling. Population sampling is current owners or CEO from the percentage of six district areas in Thailand with multi-stage sampling. A set of questionnaires is used to collect data. An analysis of structural equation modelling (SEM) technique using AMOS 21 program is conducted to test the hypotheses and confirmatory factor analysis is performed and shows that these variables can be tested. The finding of this study revealed that these factors are separate constructs that combine to determine decision making to select successors.

Keywords: succession plan, family business, recruitment process, strategic planning, decision making to select successor

Procedia PDF Downloads 158
92 Non-Family Members as Successors of Choice in South African Family Businesses

Authors: Jonathan Marks, Lauren Katz

Abstract:

Family firms are a vital component of a country’s stability, prosperity and development. Their sustainability, longevity and continuity are critical. Given the premise that family firms wish to continue the business for the benefit of the family, the family founder / owner is faced with an emotionally charged transition option; either to transfer the family business to a family member or to transfer the firm to a non-family member. The rationale employed by family founders to select non-family members as successors/ executives of choice and the concomitant rationale employed by non-family members to select family firms as employers of choice, has been under-researched in the literature of family business succession planning. This qualitative study used semi-structured interviews to gain access to family firm founders/ owners, non-family successors/ executives and industry experts on family business. The findings indicated that the rationale for family members to select non-family successors/ executives was underpinned by the objective to grow the family firm for the benefit of the family. If non-family members were the most suitable candidates to ensure this outcome, family members were comfortable to employ non-family members. Non- family members, despite the knowledge that benefit lay primarily with family members, chose to work for family firms for personal benefits in terms of wealth, security and close connections. A commonly shared value system was a pre-requisite for all respondents. The research study provides insights from family founders/ owners, non-family successors/ executives, and industry experts on the subject of succession planning outside the family structure.

Keywords: agency theory, family business, institutional logics, non-family successors, Stewardship Theory

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91 Purple Spots on Historical Parchments: Confirming the Microbial Succession at the Basis of Biodeterioration

Authors: N. Perini, M. C. Thaller, F. Mercuri, S. Orlanducci, A. Rubechini, L. Migliore

Abstract:

The preservation of cultural heritage is one of the major challenges of today’s society, because of the fundamental right of future generations to inherit it as the continuity with their historical and cultural identity. Parchments, consisting of a semi-solid matrix of collagen produced from animal skin (i.e., sheep or goats), are a significant part of the cultural heritage, being used as writing material for many centuries. Due to their animal origin, parchments easily undergo biodeterioration. The most common biological damage is characterized by isolated or coalescent purple spots that often leads to the detachment of the superficial layer and the loss of the written historical content of the document. Although many parchments with the same biodegradative features were analyzed, no common causative agent has been found so far. Very recently, a study was performed on a purple-damaged parchment roll dated back 1244 A.D, the A.A. Arm. I-XVIII 3328, belonging to the oldest collection of the Vatican Secret Archive (Fondo 'Archivum Arcis'), by comparing uncolored undamaged and purple damaged areas of the same document. As a whole, the study gave interesting results to hypothesize a model of biodeterioration, consisting of a microbial succession acting in two main phases: the first one, common to all the damaged parchments, is characterized by halophilic and halotolerant bacteria fostered by the salty environment within the parchment maybe induced by bringing of the hides; the second one, changing with the individual history of each parchment, determines the identity of its colonizers. The design of this model was pivotal to this study, performed by different labs of the Tor Vergata University (Rome, Italy), in collaboration with the Vatican Secret Archive. Three documents, belonging to a collection of dramatically damaged parchments archived as 'Faldone Patrizi A 19' (dated back XVII century A.D.), were analyzed through a multidisciplinary approach, including three updated technologies: (i) Next Generation Sequencing (NGS, Illumina) to describe the microbial communities colonizing the damaged and undamaged areas, (ii) RAMAN spectroscopy to analyze the purple pigments, (iii) Light Transmitted Analysis (LTA) to evaluate the kind and entity of the damage to native collagen. The metagenomic analysis obtained from NGS revealed DNA sequences belonging to Halobacterium salinarum mainly in the undamaged areas. RAMAN spectroscopy detected pigments within the purple spots, mainly bacteriorhodopsine/rhodopsin-like pigments, a purple transmembrane protein containing retinal and present in Halobacteria. The LTA technique revealed extremely damaged collagen structures in both damaged and undamaged areas of the parchments. In the light of these data, the study represents a first confirmation of the microbial succession model described above. The demonstration of this model is pivotal to start any possible new restoration strategy to bring back historical parchments to their original beauty, but also to open opportunities for intervention on a huge amount of documents.

Keywords: biodeterioration, parchments, purple spots, ecological succession

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90 The Role of Cornulaca aucheri in Stabilization of Degraded Sandy Soil in Kuwait

Authors: Modi M. Ahmed, Noor Al-Dousari, Ali M. Al-Dousari

Abstract:

Cornulaca aucheri is an annual herb consider as disturbance indicator currently visible and widely distributed in disturbed lands in Liyah area. Such area is suffered from severe land degradation due to multiple interacting factors such as, overgrazing, gravel and sand quarrying, military activities and natural process. The restoration program is applied after refilled quarries sites and levelled the surface irregularities in order to rehabilitate the natural vegetation and wildlife to its original shape. During the past 10 years of rehabilitation, noticeable greenery healthy cover of Cornulaca sp. are shown specially around artificial lake and playas. The existence of such species in high density it means that restoration program has succeeded and transit from bare ground state to Cornulaca and annual forb state. This state is lower state of Range State Transition Succession model, but it is better than bare soil. Cornulaca spp is native desert plant grows in arid conditions on sandy, stony ground, near oasis, on sand dunes and in sandy depressions. The sheep and goats are repulsive of it. Despite its spiny leaves, it provides good grazing for camels and is said to increase the milk supply produced by lactating females. It is about 80 cm tall and has stems that branched from the base with new faster greenery growth in the summer. It shows good environmental potential to be managed as natural types used for the restoration of degraded lands in desert areas.

Keywords: land degradation, range state transition succession model, rehabilitation, restoration program

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89 Establishing the Microbial Diversity of Traditionally Prepared Rice Beer of Northeast India to Impact in Increasing Its Shelf Life

Authors: Shreya Borthakur, Adhar Sharma

Abstract:

The North-east states of India are well known for their age-old practice of preparing alcoholic beer from rice and millet. They do so in a traditional way by sprinkling starter cake (inoculum) on cooked rice or millet after which the fermentation starts and eventually, forms the beer. This starter cake has a rich composition of different microbes and medicinal herbs along with the powdered rice dough or maize dough with rice bran. The starter cake microbial composition has an important role in determining the microbial succession and metabolic secretions as the fermentation proceeds from the early to its late stage, thus, giving the beer a unique aroma, taste, and other sensory properties of traditionally prepared beer. Here, We have worked on identifying and characterizing the microbial community in the starter cakes prepared by the Monpa and Galo tribes of Arunachal Pradesh. A total of 18 microbial strains have been isolated from the starter cake of Monpa tribe, while 10 microbial isolates in that of Galo tribe. A metagenomic approach was applied to enumerate the cultural and non-cultural microbes present in the starter cakes prepared by the Monpa and Galo tribes of Arunachal Pradesh. The findings of the mini-project lays foundation to understand the role of microbes present in the starter cake in the beer’s fermentation process and will aide in future research on re-formulating the starter cakes to prevent the early spoilage of the ready to consume beer as the traditional rice beer has a short shelf-life. The paper concludes with the way forward being controlled CRISPR-Cas9.

Keywords: fermentation, traditional beer, microbial succession, preservation, CRISPR-Cas, food microbiology

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88 A Family Development Approach to Understanding the Transfer of Family Business Ownership

Authors: Susan Lanz, Gary T. Burke, Omid Omidvar

Abstract:

The intention to transfer ownership control across family generations is acknowledged to be central to developing a theoretical understanding of how family businesses differ and are distinct as a business group. However, in practice, most business-owning families face challenges to transfer their business ownership from one family generation to the next. To date, researchers have paid little attention to how and when ownership is passed across family generations and what the dynamics of such transitions are. This is primarily due to the prevailing assumption that ownership transfer is an unimportant and legalistic issue that occurs within a wider family management succession process. Yet, the limited evidence available suggests that family ownership transfer occurs inside and outside of the management succession process and is a difficult process for business-owning families to navigate. As a result, many otherwise viable family businesses are closing, leading to unnecessary loss of jobs and knowledge. This qualitative paper examines how family members understand and navigate the ownership transfer process. This study uses an inductive qualitative research design, conducted through in-depth interviews within eight business-owning families. It draws on family development theory and shows how a wide range of family-related events and dynamics outside of family business involvement underlie and shape the ownership transfer process. The findings extend the theory on how these events trigger ownership transfer and how they shape the ownership meanings held within business-owning families. This study found that ownership transfer meanings extend beyond that of transferring the legal control and financial appropriation rights of shareholders. The study concludes there are three different stages in the process of ownership transfer -symbolic, re-balancing, and protectionist. Each stage creates distinct family social constructions of the rights of family members to hold business ownership, and each stage occurs within a specific family development phase.

Keywords: business-owning family, family development theory, ownership transfer, process

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87 Organic Geochemical Characteristics of Cenozoic Mudstones, NE Bengal Basin, Bangladesh

Authors: H. M. Zakir Hossain

Abstract:

Cenozoic mudstone samples, obtained from drilled cored and outcrop in northeastern Bengal Basin of Bangladesh were organic geochemically analyzed to identify vertical variations of organic facies, thermal maturity, hydrocarbon potential and depositional environments. Total organic carbon (TOC) content ranges from 0.11 to 1.56 wt% with an average of 0.43 wt%, indicating a good source rock potential. Total sulphur content is variable with values ranging from ~0.001 to 1.75 wt% with an average of 0.065 wt%. Rock-Eval S1 and S2 yields range from 0.03 to 0.14 mg HC/g rock and 0.01 to 0.66 mg HC/g rock, respectively. The hydrogen index values range from 2.71 to 56.09 mg HC/g TOC. These results revealed that the samples are dominated by type III kerogene. Tmax values of 426 to 453 °C and vitrinite reflectance of 0.51 to 0.66% indicate the organic matter is immature to mature. Saturated hydrocarbon ratios such as pristane, phytane, steranes, and hopanes, indicate mostly terrigenous organic matter with small influence of marine organic matter. Organic matter in the succession was accumulated in three different environmental conditions based on the integration of biomarker proxies. First phase (late Eocene to early Miocene): Deposition occurred entirely in seawater-dominated oxic conditions, with high inputs of land plants organic matter including angiosperms. Second phase (middle to late Miocene): Deposition occurred in freshwater-dominated anoxic conditions, with phytoplanktonic organic matter and a small influence of land plants. Third phase (late Miocene to Pleistocene): Deposition occurred in oxygen-poor freshwater conditions, with abundant input of planktonic organic matter and high influx of angiosperms. The lower part (middle Eocene to early Miocene) of the succession with moderate TOC contents and primarily terrestrial organic matter could have generated some condensates and oils in and around the study area.

Keywords: Bangladesh, geochemistry, hydrocarbon potential, mudstone

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86 Study of Land Use Changes around an Archaeological Site Using Satellite Imagery Analysis: A Case Study of Hathnora, Madhya Pradesh, India

Authors: Pranita Shivankar, Arun Suryawanshi, Prabodhachandra Deshmukh, S. V. C. Kameswara Rao

Abstract:

Many undesirable significant changes in landscapes and the regions in the vicinity of historically important structures occur as impacts due to anthropogenic activities over a period of time. A better understanding of such influences using recently developed satellite remote sensing techniques helps in planning the strategies for minimizing the negative impacts on the existing environment. In 1982, a fossilized hominid skull cap was discovered at a site located along the northern bank of the east-west flowing river Narmada in the village Hathnora. Close to the same site, the presence of Late Acheulian and Middle Palaeolithic tools have been discovered in the immediately overlying pebbly gravel, suggesting that the ‘Narmada skull’ may be from the Middle Pleistocene age. The reviews of recently carried out research studies relevant to hominid remains all over the world from Late Acheulian and Middle Palaeolithic sites suggest succession and contemporaneity of cultures there, enhancing the importance of Hathnora as a rare precious site. In this context, the maximum likelihood classification using digital interpretation techniques was carried out for this study area using the satellite imagery from Landsat ETM+ for the year 2006 and Landsat TM (OLI and TIRS) for the year 2016. The overall accuracy of Land Use Land Cover (LULC) classification of 2016 imagery was around 77.27% based on ground truth data. The significant reduction in the main river course and agricultural activities and increase in the built-up area observed in remote sensing data analysis are undoubtedly the outcome of human encroachments in the vicinity of the eminent heritage site.

Keywords: cultural succession, digital interpretation, Hathnora, Homo Sapiens, Late Acheulian, Middle Palaeolithic

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