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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

6. A Path Never Taken: The Options for Kim Jong-un and the Future of the Korean Peninsula

Author:
EAI Security Net
Publication Date:
10-2010
Content Type:
Working Paper
Institution:
East Asia Institute (EAI)
Abstract:
Since Kim Jong-il’s health deteriorated in the summer of 2008, the question of his succession has drawn attention from all over the world. Finally, on September 28 2010, Kim Jong-un, Kim Jong-il’s third son, rapidly emerged with his guardianship group made up of the close personnel of the “dear leader” at the Third Meeting of the Workers Party of Korea (WPK) Representatives. The future direction of the succession process has generated tremendous interest from all over the world, because it is not only related to internal power transition in North Korea but also directly linked with the future of the Korean Peninsula and Northeast Asia. The political and diplomatic decisions of Kim Jong-il’s successor will crucially affect his own future, as well that of the North Korean Nuclear Crisis, Inter-Korean relations, and the international order of Northeast Asia. Kim Jong-un was promoted to the rank of daechang, the equivalent of a four-star general, and appointed vice chairman of the Party’s Central Military Commission, in essence holding the de facto post of second-in-command. He was named right after the four members of the politburo standing committee by North Korea's official news agency, Korean Central News Agency (KCNA), and his picture was revealed to the public for the first time. This formulated that he became the successor to his father. All in all, he was named as general on the 27th, appointed vice chairman of the party’s Central Military Commission on the 28th, and his picture released on the 29th, which shows precisely the elaborated staging and even hastiness on the part of the North Korean regime. On October 10, Kim Jong-il effectively declared his heir apparent at home and abroad when he attended a massive military parade with Kim Jong-un, commemorating the 65th anniversary of the founding of the Workers Party of Korea. This remarkable event was broadcasted live in North Korea with even foreign correspondents invited to attend. The succession process was a lot faster than expected, particularly when compared to Kim Jong-il, whose succession process only got off the ground six years after he was designated a member of the Politburo in 1974. It is premature to say which direction Kim Jong-un will go, but it cannot but be seen that his emergence puts more emphasis on ‘continuation’ rather than ‘severance’ or ‘transformation’ from the existing songun or military-first politics. Above all, it is noteworthy that Kim Jong-un took the position of vice chairman of the Party's Central Military Commission rather than positions within its Politburo or Secretariat. This is groundwork to make Kim Jong-un become the “royal” successor of the military-first politics system. Like his father, he will likely exercise the power to interpret the ruling ideology as the sole successor to the “bloodline of Mount Baekdu.” Holding onto the banner of military-first politics, Kim Jong-un will establish it as a “revolutionary” tradition that will form the basis of his succession. Secondly, it is also noticeable that Kim Jong-un’s guardianship group is filled with his father’s people. They were appointed to be heavyweights in the Party and military during the Meeting of Party Representatives. Kim Jong-il’s sister Kim Kyong-hui became a member of the Politburo, her husband Jang Song Thaek became an alternate member of the Politburo, member of the Central Military Commission, and a department director of the Party’s Central Committee, while Vice-Marshal Ri Yong Ho became a Standing Member of the Politburo and vice chairman of the Central Military Commission. It is hard to find anyone that could be considered as Kim Jong-un’s people, which is to be understood considering his age and inexperience. There is a dilemma for Kim Jong-un in that he cannot completely rely on the military-first politics. Currently, Kim has not even been officially designated as successor; that will only come when he assumes position as a Standing Member of the Politburo. Such a move can only be possible if he accumulates considerable achievements as he has nothing to his name so far. Presumably, this process needs to be completed before the 7th Party Congress in 2012, leaving Kim Jong-un with little time. Establishing North Korea as an ‘economically strong power,’ one of the three pillars of gangseongdaeguk or strong and prosperous country is something that has yet to be achieved. Pyongyang has already claimed to have achieved the other two pillars of a strong political power and a strong military power. However, as long as the military-first politics is sustained, it is almost impossible for North Korea to pursue the path to economic recovery by itself.
Topic:
Authoritarianism, Leadership, Succession, and Transition
Political Geography:
Asia and North Korea