Structuring and restructuring nonprofit associations

In the mid seventies there was a spate of legal claims involving unincorporated not-for-profit associations. These claims highlighted the liability exposure of management committee members and prompted a dramatic increase in the number of associations seeking shelter behind the corporate veil. Corporate structure decisions during this period were primarily motivated by the incentive of limited liability. Twenty years later, the not-for-profit sector is subject to new challenges. The Industry Commission Report into Charitable Organisations in Australia heralds an increasing intrusion of legislative responsibilities and reform in the sector. The traditional sources of funds for not-for-profit organisations are about to radically change with the advent of “competitive tendering” for government funding and the declining benevolence of society. The legal scuffle between Australian Rugby Football League Limited (the “ARL”) and News Limited has also exposed the vulnerability of not-for-profit groups and the many legal and commercial minefields in structural decision-making. The sector is beginning to respond to these pressures by rationalisation and restructure. Corporate structure decisions are now motivated by the need to promote efficiency and resilience. Survival of the fittest. Restructuring is by no means a task for the faint-hearted. A delicate balance between legality and practicality needs to be maintained. The focus of this paper is on the restructuring choices for not-for-profit organisations and groups in Queensland. It answers “how-to” questions and identifies some important restructuring issues.

Vedestä vai Hengestä? : Uuras Saarnivaaran kasteteologia

Of water or the Spirit? Uuras Saarnivaara s theology of baptism The aim of the study was to investigate PhD and ThD Uuras Saarnivaara s views on baptism as well as their possible changes and the reasons for them. Dr Saarnivaara said himself that he searched for the truth about the relationship between baptism and faith for decades, and had faltered in his views. The method of this research is systematic analysis. A close study of the source material shows that Dr Saarnivaara s views on baptism have most likely changed several times. Therefore, special attention was paid to the time periods defined by when his literary works were published. This resulted in revealing the different perspectives he had on baptism. The fact that Dr Saarnivaara worked on two continents Europe and North America added a challenge to the research process. At the beginning of the research, I described Dr Saarnivaara s phases of life and mapped out his vast literary production as well as presented his theological basis. Saarnivaara s theological view on the means of grace and their interrelation in the church was influenced by the Laestadian movement, which caused him to adopt the view that the Holy Spirit does not dwell in the means of grace, but in the believers. Thus the real presence of Christ in the means of grace is denied. God s word is divided into Biblical revelation and proclamation by believers through the means of grace. Also, the sacraments are overshadowed by the preached word. Because grace is received through the word of the gospel preached publicly or privately by a believer, the preacher s status gains importance at the expense of the actual means of grace. Saarnivaara was intrigued by the content of baptism from the time he was a student until the end of his life. As a young theologian, he would adopt the opinions of his teachers as well as the view of the Evangelical Lutheran Church of Finland, which at the time was dominated by the pietistic movement and the teachings of J. T. Beck. After Saarnivaara had converted to the Laestadian movement, moved to the United States and started his Luther research, he adopted a view on baptism which was to a great extent in accordance with Luther and the Lutheran Symbolical Books. Saarnivaara considered his former views on baptism unbiblical and publicly apologised for them. In the 1950s, after starting his ministry within the Finnish neopietistic movements, Saarnivaara adopted a Laestadian-neopietistic doctrine of baptism. During his Beckian-pietistic era, Saarnivaara based his baptism theology on the event of the disciples of Jesus being baptised by John the Baptist, the revival of Samaria in the Book of Acts and the conversion of Cornelius and his family, all cases where the receiving of the Holy Spirit and the baptism were two separate events in time. In order to defend the theological unity of the Bible, Saarnivaara had to interpret Jesus teachings on baptism in the Gospels and the teachings of the Apostles in the New Testament letters from a viewpoint based on the three events mentioned above. During his Beckian-pietistic era, the abovementioned basic hermeneutic choice caused Saarnivaara to separate baptism by water and baptism by the Holy Spirit in his salvation theology. Simultaneously, the faith of a small child is denied, and rebirth is divided into two parts, the objective and the subjective, the latter being moved from the moment of baptism to a possible spiritual break-through at an age when the person possesses a more mature understanding. During his Laestadian-Lutheran era, Saarnivaara s theology of baptism was biblically consistent and the same for all people regardless of the person s age. Small children receive faith in baptism through the presence of Christ. The task of other people s faith is limited to the act of bringing the child to the baptism so that the child may receive his/her own faith from Christ and be born again as a child of God. The doctrine of baptism during Saarnivaara s Laestadian-neopietistic era represents in many aspects the emphases he presented during his first era, although they were now partly more radical. Baptism offers grace; it is not a means of grace. Justification, rebirth and salvation would take place later on when a person had reached an age with a more mature understanding through the word of God. A small child cannot be born again in baptism because being born again requires personal faith, which is received through hearing and understanding the law and the gospel. Saarnivaara s views on baptism during his first and third era are, unlike during his second era, quite controversial. The question of the salvation of a small child goes unanswered, or it is even denied. The central question during both eras is the demand of conversion and personal faith at a mature age. The background for this demand is in Saarnivaara s anthropology, which accentuates man s relationship to God as an intellectual and mental matter requiring understanding, and which needs no material instruments. The two first theological eras regarding Saarnivaara s doctrine of baptism lasted around ten years. The third era lasted over 40 years until his death.

A (des)naturalização da pessoa jurídica: subjetividade, titularidade e atividade

O presente trabalho, a partir da revisão do conceito de personificação, pretende investigar como se desenvolve o processo de naturalização da pessoa jurídica e os eventuais prejuízos decorrentes para a tutela do ser humano nas organizações sociais e para a descrição do fenômeno empresarial. Sob o prisma da filosofia da linguagem, realiza-se uma revisão bibliográfica sobre a utilização do termo pessoa jurídica no discurso do Direito, destacando, principalmente, a desconstrução promovida pelo chamado nominalismo. São, ainda, propostos critérios para a identificação da naturalização, a partir de uma gradação que procura segregar os diversos grupos de casos que lhe são correlatos. A tese foi estruturada em três etapas: subjetividade, titularidade e atividade. Ao cotejar a pessoa natural com a pessoa jurídica, em cada um desses planos, espera-se revelar a assimetria de razões que separam a personificação do ser humano daquela presente nas sociedades, associações e fundações. Do questionamento do individualismo metodológico presente na noção de pessoa jurídica resulta a reconstrução do próprio sistema analítico de conceitos do discurso jurídico, com a revisão das ideias de imputação, relação jurídica, titularidade e autonomia patrimonial.

A disciplina do nome empresarial: natureza e tutela jurídica

O trabalho analisa o nome empresarial como sinal revelador da personalidade do empresário individual, da sociedade empresária e da empresa individual de responsabilidade limitada. Vincula-se à linha de pesquisa Empresa e Atividades Econômicas. A pesquisa é do tipo teórico e adotou o método dedutivo, tendo objetivo analítico. As fontes utilizadas foram bibliográficas e documentais. Trata da disciplina jurídica do nome empresarial no Brasil, realizando uma evolução histórica legislativa e mostrando o aprimoramento do instituto. Descreve seu regramento jurídico atual e o distingue dos demais sinais integrantes dos elementos da empresa. Aponta as funções exercidas pelo nome empresarial. Discute a posição do nome empresarial como direito fundamental e direito da personalidade e identifica o âmbito da proteção, visando a ampliar sua abrangência material e territorial. Assinala sua proteção de forma absoluta, independentemente do ramo de atividade, e examina a respectiva tutela nos campos administrativo, civil e penal.

Wider share ownership?: investors in English and Welsh Bank shares in the nineteenth century

The joint-stock banks that established after the liberalizing legislation of 1826 were periodically criticized during the nineteenth century for their low-quality and rapidly deteriorating shareholder constituencies. The quality of a bank's shareholding constituency was of paramount importance because of unlimited shareholder liability. Using archival records, this article examines the quality of bank shareholder constituencies over the nineteenth century. The main finding is that shareholder constituencies did not deteriorate in quality until the introduction of limited liability. The non-deterioration of constituencies is attributed to bank deeds which locked in the aggregate quality of shareholder constituencies by empowering directors to vet all share transfers.

Holding Shareholders to Account: British Banking Stability and Contingent Capital

This chapter seeks to explain the relative stability of the British banking system in terms of its capital structure. From 1826 joint-stock banking was allowed, but shareholder liability was jointly and severally unlimited. Limited liability banks were allowed from 1857–8, but these banks issued partly paid shares with an obligation on shareholders to subscribe for uncalled capital. Contingent capital meant that shareholders and managers would suffer losses in the event of failure and this discouraged risk shifting at the expense of note-holders and depositors. Although individual banks collapsed, the failure rate of banks (in terms of number or capital) did not reach a critical level—10 per cent—beyond which the payments system might have been threatened. This chapter argues that agency problems and systemic risk rose after the abolition of contingent share capital in 1958 and the deregulation of the banking sector in the 1970s.

Avaliação e optimização operacional: estudo do terminal de contentores de Alcântara

Trabalho Final de Mestrado para obtenção do grau de Mestre em Engenharia Mecânica - Ramo Manutenção e Produção

Les difficultés de l'arrangement statutaire de la L.c.Q. et l'utilisation croissante de celui de la L.c.s.a.

Le présent mémoire analyse les dispositions sur l'arrangement ou compromis avec actionnaires prévues aux articles 192 de la Loi canadienne sur les sociétés par actions et 49 de la Loi sur les compagnies du Québec. Dans un premier temps, l'étude de la genèse des dispositions sur l'arrangement dans les lois canadiennes fait ressortir que ces dispositions ont une origine commune et qu'elles partagent une même philosophie, caractérisée par une dualité entre la permissivité des transactions et la protection des épargnants. L'étude des fondements juridiques des mécanismes prévus dans la loi fédérale et provinciale permet ensuite de réaliser que, alors qu'à l'origine, la disposition québécoise était en quelque sorte le calque de la disposition fédérale, cette dernière a été modifiée postérieurement à la réforme de la loi fédérale, de sorte que plusieurs différences distinguent aujourd'hui ces deux lois au chapitre de l'arrangement. Dans un contexte où des démarches ont été entamées afin de réformer la loi provinciale, la question à laquelle ce mémoire tente de répondre peut se poser en ces termes: La « nouvelle disposition» d'arrangement adoptée par le législateur fédéral rencontre-t-elle mieux les objectifs de permissivité des transactions et de protection des épargnants que la disposition québécoise qui, pour sa part, est demeurée pratiquement inchangée depuis son adoption? L'étude parallèle de ces dispositions permet de constater que la «nouvelle disposition» d'arrangement de la L.c.s.a. semble davantage rencontrer ces objectifs.

Pattern of Executive Remuneration in the Manufacturing Public Enterprises in Kerala

The study is undertaken by the researcher with the object of examining the remuneration pattern of executive personnel in the manufacturing public enterprises in Kerala so as to find out whether there is any rationale or criteria involved in remunerating executives. It is also envisaged to find out the pattern of executive remuneration in the various categories of industries and inter—industry disparities among the public sector enterprises. This is considered to be a very fruitful area for investigation, particularly in view of the generally prevailing notion that public sector executives in Kerala are not remunerated properly and glaring inequalities and disparities are existing among the various categories of industries and within the same industry. Therefore the study is to explore the criteria used for the determination of executive remuneration and the relative weightage of various factors such as size of the firm, rate of return sales volume etc of the organisation and various other factors such as qualification, experience, level of job and functions of executives. Further the study is extended to find out the role of 'pay' towards motivation and efficiency of the executive personnel

Uso estratégico de la deuda: un estudio a nivel de empresa para colombia 1995-2003

El presente trabajo intenta estimar si las empresas emplean estratégicamente la deuda para limitar la entrada de potenciales rivales. Mediante la metodología de Método Generalizado de Momentos (GMM) se evalúa el efecto que tienen los activos específicos, la cuota de mercado y el tamaño, como proxies de las rentas del mercado, y las barreras de entrada sobre los niveles de endeudamiento, a nivel de empresa para Colombia, durante 1995-2003. Se encuentra que las empresas utilizan los activos específicos para limitar la entrada al mercado y que el endeudamiento decrece a medida que las empresas aumentan su cuota en el mercado

Os processos de constituição de sociedades por quotas face às alterações legislativas de 2011

Este pequeno artigo destina-se a ajudar os alunos de Direito Comercial do ISMAT a compreender, apreendendo, as recentes alterações legislativas ao Código das Sociedades Comercias no que ás sociedades por quotas diz respeito. Não pretendendo criar partido sobre tais alterações legislativas, nem tao pouco desenvolvendo todas as questões polémicas suscitadas com a leitura de tal diploma legal, pretendemos no entanto, abrir a mente dos alunos para possíveis alterações polémicas que, eventualmente, poderão vir a servir de base para tema de estudo em futuros mestrados.

Forum - The Stern review: implications for construction

The SternReview(2006) on the economics of climate change has changed the ground onwhich arguments over climate change are fought. In making the economic case for mitigation over adaptation, Stern has sought to undermine one of the primary arguments against decisive early action - that the immediate costs outweigh the long-term benefits. While this argument is made at the global level, it is appropriate to ask what implications Stern's arguments might have at the construction sectoral level. The implications of the Stern Review for construction can be divided into three main questions. How construction would be different if Stern's economics were applied? How would construction companies act differently if Stern's ethics were adopted? How will the political response to the Stern Review change construction's policy and regulatory landscape? The impact of the Review has shifted the debate from the natural science community into the public policy domain and onto an economic rationale. There seems to have been a pronounced shift away from the debate over the science and towards the economics of mitigation versus adaptation. In this context, the academic debate over Stern's methods is irrelevant - it is his findings, authority and use of the hegemonic power of economic argument that carry the day. This is likely to be Stern's true legacy, and through this will come his greatest impact on construction.

The unseen job creators : Growth potential among non-growing firms

Among 104,231 limited liability fi…rms in Sweden with at least two employees during 1997-2010, almost 10 % did not hire new employees in any given 3-year period despite having high profi…ts. Nearly half of these …firms continued to have high or medium pro…fits in the next three-year period, but still no growth. Regression analysis indicates that these fi…rms were not randomly distributed; rather they were small and young, did not belong to an enterprise group, and operated in local markets with high profi…t-opportunities. We conclude that it might be more benefi…cial to focus policy towards these …firms instead of towards a few high-growth fi…rms that, having just grown exponentially, may not be best positioned to grow further.

Competição e alavancagem na indústria de aços planos

Pesquisas recentes nos campos das Finanças e de Economia Industrial vêem mostrando que as decisões de financiamento corporativo são interdependentes de decisões relativas ao mercado de produtos. As teorias apresentadas apóiam-se na responsabilidade limitada dos detentores do capital próprio para construir modelos nos quais a dívida é utilizada estrategicamente. Altos níveis de endividamento tendem a favorecer o acirramento da concorrência e a produzir resultados piores do que numa situação de conluio, provocando a adoção de mecanismos de limitação da alavancagem e da concorrência pelo oligopólio. Evidências indicam que firmas alavancadas suavizam a concorrência enquanto firmas menos ou não alavancadas tornam a concorrência mais acirrada ante a presença de um rival mais alavancado. Dados de corte seccional das firmas participantes do mercado brasileiro de aços planos ao carbono foram tratados pelo método econométrico para verificar o comportamento da variável de endividamento tendo como variáveis explicativas de interesse os preços praticados e as quantidades vendidas pelas firmas e, como variáveis de controle, algumas dentre aquelas sugeridas pela teoria da estrutura de capital. Os resultados mostram evidências de que a variável de concorrência "preço" influencia as decisões de estrutura de capital das firmas siderúrgicas produtoras de aços planos e que a correlação com a alavancagem é positiva. No entanto, nenhuma conclusão pôde ser obtida sobre a variável quantidade. Cálculos adicionais produziram resultados que são indicativos de iniciativas de aumento de concorrência pelas firmas mais alavancadas da indústria, como redução de preço, aumento de lucratividade e maior participação de mercado, sugerindo que as circunstâncias de expansão de demanda favorecem a ruptura do conluio.

Relacionando o comprometimento organizacional e a responsabilidade social corporativa

A competitividade e a responsabilidade social têm sido temas de constante discussão nos meios acadêmicos e econômicos. De um lado, as empresas buscam a competitividade através da eficiência, da excelência e da melhora constante de desempenho. Este desempenho, conforme já colocado por Bateman e Strasser (1984), encontra entre suas bases o comprometimento dos empregados com a sua organização. De outro lado, a sociedade, e todos os grupos nela atuantes, cobram de maneira cada vez mais forte e ampla que as empresas ajam de forma socialmente responsável. Neste sentido, o presente trabalho buscou analisar um modelo de comprometimento organizacional e um de responsabilidade social corporativa que fornecessem as bases para a compreensão desses dois construtos e as possíveis relações entre eles. A partir dos modelos estudados, obtiveram-se quatro grupos de interesse para os quais as atividades de responsabilidade social corporativa podem ser direcionadas – stakeholders sociais e não sociais, empregados, consumidores e governo – e três dimensões do comprometimento organizacional – afetiva, normativa e instrumental. Através de análises de correlação e de regressão linear simples e algumas ponderações teóricas, concluiu-se que, para a amostra obtida, as atividades de responsabilidade social corporativa voltadas aos empregados e aos consumidores possuem relação positiva com os comprometimentos afetivo e normativo, enquanto que as ações de responsabilidade social corporativa voltadas a stakeholders sociais e não sociais e ao governo possuem relação direta apenas com o comprometimento afetivo. As demais relações entre a variável dependente e independente se mostraram inexistentes. Desta forma, este trabalho propõe que os gestores das organizações, conhecedores dos possíveis efeitos benéficos sobre o comprometimento organizacional de seus empregados e, conseqüentemente, seus resultados e desempenho, atuem no sentido de esclarecer e melhorar a percepção de seus empregados sobre as atividades de responsabilidade social corporativa. Além de aprofundar o conhecimento sobre as causas e antecedentes do comprometimento organizacional, acredita-se que os resultados demonstrados possam direcionar as organizações em suas ações de conscientização sobre responsabilidade social corporativa de forma mais efetiva.