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1. A Bitter Adjustment for German Family Capitalism: Succession and a Changing Ownership Transfer Regime

Author:
Isabell Stamm and Allan Sandham
Publication Date:
11-2023
Content Type:
Working Paper
Institution:
Max Planck Sciences Po Center on Coping with Instability in Market Societies (MaxPo)
Abstract:
Germany is known for its family-owned businesses that transfer ownership across generations. However, business owners in Germany increasingly envision selling their business beyond the family, which fundamentally changes the institutionalized way private ownership of businesses is transferred. In this paper, we analyze and explain this fundamental change in German family capitalism since the 1990s. Drawing on a sociology of ownership, we view family succession as a transfer regime and show how this regime has been problematized and gradually reframed. Based on analysis of a rich corpus of documents, archival materials, and twenty-seven expert interviews, we show how a new transfer regime – the exit regime – emerges, which coordinates ownership transfer among founders through matchmaking. Our study contributes to research on family capitalism and succession by demonstrating how family capital moves toward the financial sector without becoming financial capital as it loses the family and gains the founder as personalized points of reference.
Topic:
Regime Change, Capitalism, Family, Succession, and Ownership
Political Geography:
Europe and Germany

2. A Bitter Adjustment for German Family Capitalism: Succession and a Changing Ownership Transfer Regime

Author:
Isabell Stamm and Allan Sandham
Publication Date:
05-2023
Content Type:
Working Paper
Institution:
Max Planck Institute for the Study of Societies
Abstract:
Germany is known for its family-owned businesses that transfer ownership across generations. However, business owners in Germany increasingly envision selling their business beyond the family, which fundamentally changes the institutionalized way private ownership of businesses is transferred. In this paper, we analyze and explain this fundamental change in German family capitalism since the 1990s. Drawing on a sociology of ownership, we view family succession as a transfer regime and show how this regime has been problematized and gradually reframed. Based on analysis of a rich corpus of documents, archival materials, and twenty-seven expert interviews, we show how a new transfer regime – the exit regime – emerges, which coordinates ownership transfer among founders through matchmaking. Our study contributes to research on family capitalism and succession by demonstrating how family capital moves toward the financial sector without becoming financial capital as it loses the family and gains the founder as personalized points of reference.
Topic:
Regime Change, Capitalism, Family, Succession, and Ownership
Political Geography:
Europe and Germany

3. Leadership successions in Central Asia: Elite pacts, dynasties and revolutions

Author:
Kristiina Silvan
Publication Date:
11-2022
Content Type:
Policy Brief
Institution:
Finnish Institute of International Affairs (FIIA)
Abstract:
Despite their shared communist past, similarities in political systems, and record of “authoritarian learning” from one another, there is significant diversity in how Central Asian regimes have prepared and undergone leadership successions. Authoritarian states, particularly those led by personalist rulers, face instability during moments of leadership succession. Sometimes the turbulence develops into a full-blown succession crisis characterized by increased elite contestation and popular protests. In Turkmenistan and Uzbekistan, personalist leaders died in office and the elites chose a successor after negotiations. Still, most regional leaders have sought to pass power gradually to a designated successor, either a familial or non-familial member of the elite, with varying degrees of success. China and Russia have been directly and indirectly involved in the transitions. Moscow has been particularly involved in the short-term de-escalation of succession crises in Kyrgyzstan in 2020 and Kazakhstan in 2022. Russia’s war in Ukraine has changed the context of Central Asian successions, which means that future transitions will take place in uncharted territory.
Topic:
Governance, Leadership, Succession, and Transition
Political Geography:
Central Asia and Asia

4. Oman After Qaboos: A National and Regional Void

Author:
Simon Henderson
Publication Date:
12-2019
Content Type:
Policy Brief
Institution:
The Washington Institute for Near East Policy
Abstract:
The ailing Sultan Qaboos bin Said al-Said, now seventy-nine years old, has no children and no announced successor, with only an ambiguous mechanism in place for the family council to choose one. This study considers the most likely candidates to succeed the sultan, Oman’s domestic economic challenges, and whether the country’s neutral foreign policy can survive Qaboos’s passing.
Topic:
Foreign Policy, Economics, Domestic Politics, and Succession
Political Geography:
Middle East, Oman, and Gulf Nations

5. Kuwait: A Changing System Under Stress

Author:
Kristian Coates Ulrichsen and Simon Henderson
Publication Date:
10-2019
Content Type:
Policy Brief
Institution:
The Washington Institute for Near East Policy
Abstract:
The Washington Institute has been sponsoring a series of discussions about sudden succession in the Middle East. Each session focuses on scenarios that might unfold if a specific ruler or leader departed the scene tomorrow. Questions include these: Would the sudden change lead to different policies? Would it affect the stability of the respective countries involved, or the region as a whole? What would be the impact on U.S. interests? Would the manner of a leader's departure make a difference? The discussions also probe how the U.S. government might adjust to the new situation or influence outcomes. This essay, seventh in the series, discusses Kuwait, a small, oil-rich country surrounded by big neighbors with which relations have often been uneasy. Its leader, Emir Sabah al-Ahmad al-Sabah, is ninety years old and apparently in fragile health. His immediate heir, half-brother Nawaf, is not much younger at eighty-two. More important, perhaps, Nawaf lacks the current emir's adeptness as a diplomat. In a Gulf region experiencing sharp tensions, Sabah's exit will remove a much-needed node of stability. Whoever ultimately takes the helm will have a substantial legacy to uphold.
Topic:
Foreign Policy, Politics, Succession, and Monarchy
Political Geography:
Middle East, Kuwait, and Gulf Nations