Joint project on „Best practices and rules for good corporate governance in foundation-owned firms“ starts
We are happy to announce that the joint research project of Prof. Ann-Kristin Achleitner (TU München, CEFS), Prof. André Betzer (University of Wuppertal) and Prof. Jörn Hendrich Block (University of Trier), on „Best practices and rules for good corporate governance in foundation owned firms“ can start its work. The Jackstädt Foundation generously supports the project.
A separate design of corporate governance rules for foundation-owned firms is reasonable since they often exhibit hybrid characteristics which differentiate them greatly from other types of companies. Foundation-owned firms are a combination of profit and non-profit orientation, which is reflected in the structures as well as in the personnel competences. This leads to very specific goal orientation, activities and structures of the foundation-owned firms which in turn leads to specific governance challenges. Within the research project, these will be fully identified under continuous interaction with the practice. On the basis of relevant scientific theories and existing governance codes, relevant regulations for the supervision of foundation-owned firms will be developed. Due to a growing number of foundation-owned firms in Germany in recent years, the results of the research project have a high scientific as well as practical relevance. The best practices and rules of good corporate governance are aimed at existing foundation-owned companies as well as entrepreneurs who are aiming at a foundation as legal form. Overall, the rules are developed for foundation-owned firms that are neither part of the category "classic" family companies nor listed on the stock exchange. In addition to the realization of the research project, funding by the Jackstädt Foundation also enables the organization of scientific conferences and workshops, which are intended to serve as a basis for the discussion of a new Corporate Governance Code for foundation-owned firms.