사례연구 : 가업승계와 가족기업의 경쟁력: 에스엘 사례

이장우 ( Jang Woo Lee ),마윤주 ( Yoon Joo Ma ),정수철 ( Su Chul Jung ) 한국중소기업학회 2010 中小企業硏究 Vol.32 No.4

본 연구의 목적은 가족기업의 핵심역량 축적과정을 살펴보고 성공적인 가업승계의 중요성을 논의하는 것이다. 이를 위해 가족기업의 경쟁우위를 설명한 Miller and Le Breton-Miller (2005)의 4C(Continuity, Community, Connection, Command)모델을 기반으로 3대에 걸친 성공적인 가업승계를 기반으로 한 에스엘의 핵심역량 축적과정을 조사했다. 국내 자동차부품회사인 에스엘의 성장과정에 관한 2차 자료를 분석하고, 대표이사와의 심층인터뷰를 통해 그 연관성을 구체적으로 살펴보았다. 분석결과 창업자 가족이 공유한 가치관과 비전, 노하우, 경험 등은 장기적인 지향성을 가지고 지속적으로 핵심역량을 개발하는데 큰 역할을 하였다. 또한 신뢰의 가치관이라는 사회적 자본을 효과적으로 전달받은, 다음 세대의 후계자는 가족 가치관을 토대로 대외 네트워크를 더욱 견고히 하고 지속적으로 발전시켰다. 에스엘은 성공적인 가업승계로 소유와 지배구조를 집중화 할 수 있었고, 이에 따라 외부 이해관계자들의 압력 없이, 가족 내부 조화를 통해 독립적이고 과감한 의사결정이 가능하였다. 이는 가족기업의 경우 고유한 공동체적 문화와 신뢰에 기반 한 외부 네트워크 형성을 통해 경쟁력 구축에 힘쓸 필요가 있으며, 일반기업의 경우에도 공동체 적 조직문화와 중장기적 관점의 외부 협력관계가 기업의 영속성 유지에 중요하다는 시사점을 제공한다. 또한 가엽승계가 기업경쟁력의 유지와 세대 간 이전에 중요한 기능을 함에 따라 이에 대한 적절한 정책적 배려가 필요하다. The purpose of this study is to examine the process of accumulating com-petences and competitiveness by family companies, and discuss the importance of successful succession of a family business. The core competence accumulation process and competitiveness sources of SL, which is based on successful succession of the family business for three generations, was examined based on the 4C (Continuity, Community, Connection, Command) model of Miller and Le Breton-Miller (2005), which explains the competitive superiority of family companies. Secondary data on the growth process of SL, a domestic auto-mobile parts company, was analyzed and their strategic implications were examined in detail through an in-depth interview with the CEO. The 4C factors, which are antecedent variables of a successful family business, played an important role on the growth process of SL. The continuity factor existed through continuous research and development that focuses on and invests in improving technology quality such as mold pro-duction, lamp production, sash production, and design automation. 2 to 3 percent of the sales amount each year was spent on research and development, regardless of the condition of the economy. As a result, the intellectual property of the company reached 1,108 items (583 applications, 440 registered properties, 47 in review, 38 trademarks) by 2006. From a long-term perspective, the company is improving their technical power to an international standard through technical investments. The continuity of investments in research and development is apparent through three generations, and it can be said that this reflects the characteristics of family business management that shares a goal, and confirms and develops the core capacities of the company. The factor of community started with the "people first" business, management philosophy of the late presi-dent, Hae-joon Lee. Then, it expanded to "human respect" during the president Choong-kon Lee`s generation, and to "ethical management" for the CEO Sung-yup Lee`s generation. The sense of community was revealed to be in the form of a community corporate culture based on a good welfare system for employees and com-munity awareness. Diverse benefits including a housing support system, housing fund support system, child-ren`s education fee support system, scholarship system, and company clubs support system were used to make people feel like "the company and I are one" and work with a sense of ownership. The fact that there has not been one conflict between labor and management since 1968, when the labor union was first established, is especially a noteworthy point. The business management based on "people first" stresses the responsibility and roles of employees and reflects the belief that a workplace should not simply be a place to make a living, but a part of life where you can cultivate character and fulfill your role as a member of society. The connection factor appears as continuous partnerships and networks with domestic and international parts suppliers and technologically advanced companies. The late honorary chairman Hae-joon Lee maintained partnerships and networks with Hyundai Motor Company and Daewoo Motors. Then, chairman Choong-kon Lee expanded the network to include KIA and Ssangyong Motors and maintained long-term relationships with domestic automobile makers. In addition, the company is maintaining cooperative relations with the Japanese company Stanley and German company Hella, and has started dealing with the U.S. company GM, too. CEO Sung-yup Lee`s generation improved the company`s relationship with GM and made the achievement of re-ceiving the QSTP Award (an award GM gives to selected skilled companies out of all the parts companies in the world) from GM for 14 consecutive years (1997-2010), solidifying its position as a skilled partner of GM. SL is also advancing into China through collaborations with the local branch to extract new cooperative relations. The value of "trust" is the motivation that helped SL maintain and strengthen relationships and networks. This value started with the founder of the company and was handed down to chairman Choon-kon Lee and CEO Sung-yup Lee, and worked as a core factor to strengthen external cooperative relationships. The factor of command is apparent from the decisions of business managers who take on a challenge, structural management that includes an endless will for innovation, and leadership. When the late honorary chairman Hae-joon Lee could not cultivate a road for the automobile parts industry because of smuggled goods, he recognized the importance of the automobile parts industry and folded his bicycle parts business, which was number one in the market at the time, without hesitation thanks to his owner-focused independent and bold decision-making skills. In the mid-1990s, when most automobile production companies experienced difficulties because of the economic crisis where Korea was dependent on the IMF, and the aftershocks of restructuring affected automobile parts manufacturing companies, chairman Choong-kon Lee considered the crisis an opportunity and acquired and merged with Seogu Industry (currently known as SL Litech), Oriental Construction and Poongi Building (currently known as SL Seo Bong Co., Ltd. Shiheung factory), creating a turning point to develop further after the crisis. CEO Sung-yup Lee pursues continuous innovation including a corporate culture that places importance on learning and admitting mistakes, change of the structural system to a project based system, and a human resources system that focuses on human resources management, and is emphasizing corporate changes according to the situation of the times. An examination of the SL core competence accumulation process based on the 4C model shows that it is establishing positive relationships and continuity based on connection and trust, leading to a cooperation sys-tem based on the value of trust. It also establishes a positive relationship with command focusing on a com-munity structure culture, which leads to structure capacity based on community culture. The factors of con-nection and community were found to be especially strong at SL. The factor of connection was a core growth motivation, influenced by the key values of family. SL reveals its growth motivation to be "unification of all employees," shares the goals and visions of family with its employees, and offers a variety of different benefits. The active will of employees to participate in this community is seen to be the background behind big accomplishments such as innovations in the field, which are still being pursued. Successful succession of the family company and family business management are strengths that lie in the center of the motivation that allowed SL to continue to grow for three generations, starting with the founder, the late honorary chairman Hae-joon Lee, who provided a foundation of growth with values of trust and peo-ple first, moving on to the second generation chairman Choong-kon Lee, who accomplished a rapid development of the company based on technological developments and respect for people, and finally through to the third generation CEO Sung-yup Lee, who is making efforts for globalization and innovation based on ethical management and change. This shows that the values of trust set by the founder have continued on for a long time, through his son, chairman Choong-kon Lee, and grandson, CEO Sung-yup Lee. Chairman Lee, CEO Lee and executive director Lee Seung-hoon are learning corporate culture and management know-how through a great will to participate and actual participation in management. SL was able to gain competitiveness and continuously reach excellent management performance through cooperation based on the value of trust and structural management that focuses on community culture. As a result of analyzing the company through the 4C model and conducting in-depth interviews with man-agement, it can be said that the values, vision, know-how and experience the founder shared with his family largely contributed to continuous development of core competence with a long-term goal. This in turn had a positive effect on establishment of a corporate community based on trust. By inducing loyalty, participation, and focus on employees in the organizational structure with something more than just financial incentives, the core values of the company are relayed through generations and play an important role in maintaining the community, and also emotionally motivating members of the community. Another point is that the successor who effectively received the social capital of trust as a value, strengthened and continued to develop the ex-ternal network based on the family values. The value of "trust" started by the founder played a key role in strengthening external cooperative relations as it was succeeded through generations. This had a positive ef-fect on connection based on the value of trust, and especially decisively contributed to maintaining close rela-tions of cooperation in the external network and long-term cooperative relationships. SL was able to focus the possession and domination structure through successful succession of the family business, and make in-dependent bold decisions through internal harmony of the family, without pressure from people involved externally. The results above lead to the following points of discussion regarding corporate management. From a busi-ness management perspective, first, a family company needs to establish an external network based on a unique community culture and trust to work on establishing competitiveness. Second, there is a need to reflect the fact that a community-like structural culture and external cooperative relations from a mid- to 0long-term perspective have an important effect on maintenance of corporate continuity, even for companies that are not family businesses, on business management. Third, there is a need to focus on the fact that a structural man-agement method that uses values such as community help secure continuity of a company. From a policy per-spective, since succession of a family business can be not succession of wealth but succession of accumulated technological core competence and good management philosophy and know-how, it is important for improve-ing national competitiveness, to maintain corporate competitiveness, and transfer the competitiveness between generations. Therefore, there is a need for appropriate policies that support the successful transgenerational succession of family businesses.

가업승계 의사결정에 영향을 미치는 요인

남상순,홍정화,차진화 한국회계정보학회 2017 회계정보연구 Vol.35 No.2

There are some purposes of this study. First, how the environmental characteristic affects the decision making in family business successions. Second, how the satisfaction in interests affects both decision making and environmental characteristics related to family business successions. In order to attaining the study purpose, It considers the theoretical background and the precedent study through literature analysis by using the questionnaires. The study objects are corporations and tax delegates interested in the family business successions in Seoul and Gyeonggi Province. Their responses are used into the study though statistical analysis. The study sums it up in a word just like below. First, in the affection of decisions in family business successions to environmental factor characteristics, the social environmental, members, inheritance tax characteristics have similar affection to decisions of family business successions. Second, it is found that the satisfaction of interests in independent variables, the three above characteristics, has significantly affected to a family business successions by looking into the mediated affects or not. This study has some limitation as shown below. First, it cannot make sure that the response of our questionnaires is the representative of tax agency and corporation which is trying to succeed the business to their family. Also, there could make the mistake of hasty generalization for that the responses do not understand exactly to complicated tax requirements. Second, What does family business inheritance decision makes cause and effect that family business inheritance was able to investigation which found differences between the object of company and Tax agency from survey. However, the investigation was not enough to found limits of causes. Third, the research show bounded of family business inheritance decision to cause and effect such as, training successor or succession to a family occupation property which include distribution of family occupation. Finally, the study try to found that what family business inheritance affect decision in relation of environmental family business by logical reason. However, the study need to provide advanced research which need to base on specific relation. 본 연구의 목적은 가업승계 의사결정에 영향을 미치는 가업승계관련 환경특성요인이 무엇인지, 이해관계인 만족도에 따라 가업승계 의사결정이 달라지는지 살펴봄으로써 가업승계를 가로막는 장애요인을 파악하여 가업승계를 활성화시킬 수 있는 방안에 대해 연구하는 것이다. 설문지 조사연구방법을 적용하였다. 세무사. 공인회계사 등 전문적인 지식을 갖춘 세무대리인과 가업승계 대상기업 근무자를 설문대상자로 하여 설문지 조사연구방법을 적용하였다. 총800부의 설문지를 배부하여 241부를 회수하여 응답내용이 부실한 8부의 설문지를 제외한 233 부를 분석에 이용하였다. 수집된 자료의 기초자료분석으로 기술통계량, 신뢰성, 타당성, 상관분석을 하였고, 가설검증을 위한 분석으로 독립변수와 종속변수의 관계는 다중회귀분석을 이용하였고, 가업승계 환경특성요인과 가업승계 의사결정 의 관계에서 이해관계인 만족도의 매개변수 역할을 검증하기위하여 매개회귀분석을 이용하였다. 본 연구의 결과는 다음과 같다. 첫째, 가업승계 관련 환경요인별 특성변수 중에서 사회환경특성(외부환경, 내부환경), 구성원특성(경영자 특성, 근로자 특성), 상속세제특성(상속요건, 사후관리요건) 모두 가업승계 의사결정에 유의한 양(+)의 영향을 미치는 것으로 나타났고, 영향력 크기는 내부환경>외부환경, 경영자 특성>근로자 특성, 사후관리요건>상속요건으로 나타났다. 둘째, 가업승계 환경특성요인과 가업승계 의사결정의 관계에서 이해관계인 만족도가 매개변수로서 유의한 영향을 미치는 것으로 나타났다.

가업승계와 승계유형이 기업의 이익조정과 조세회피에 미치는 영향

윤유진,이현아 글로벌경영학회 2022 글로벌경영학회지 Vol.19 No.4

Succession in family business by inheritance or gifting of the ownership plays an important role in the economic development by maintaining company’s sustainability through the transfer of internal business expertise and accumulated technology. Nevertheless, the ownership transfer process in the Korean family businesses has largely been hindered by the imposition of a high inheritance tax. In this context, this study analyzes the level of earnings management and tax avoidance before and after the ownership succession in these companies. In particular, the family business succession is classified into ownership succession and management succession in order to highlight the difference in the level of earnings management and tax avoidance. The study conducts a multiple regression analysis for a sample of 9,361 firm-year observations of external audit companies from 2004 to 2018 to present the following results. First, the level of earnings management falls after the succession of family business. Second, the decrease in the level of earnings management after succession is greater for the ownership succession than for the management succession. Third, there is little impact on the level of tax avoidance by the succession of family business. Lastly, the ownership succession in family business tends to be accompanied with higher level of tax avoidance than the management succession. These results suggest that family business succession is likely to lead to stable management performance in the long-term perspective, while the taxable benefits in the succession process may not be effective for the Korean family businesses. In addition, it is suggested that the levels of earnings management and tax avoidance can be differed by the type of family business succession because succeeding managers tend to pursue different goals depending on the type of succession. This study will provide useful information to various stakeholders regarding family business succession and encourage the smooth transmission of family businesses to the younger generation in Korea. 가업승계는 기업이 동일성을 유지하면서 상속이나 증여를 통하여 그 기업의 소유권 또는 경영권을 후계자에게 이전함으로서 축적된 기술과 경영 노하우를 지속가능하게 하고 경제 활성화에 중대한 영향을 미칠 수 있는 사안이다. 하지만 현행 세법에서 규정하고 있는 다양한 가업승계 지원제도에도 불구하고 기업들은 현실적으로 승계로 인한 막대한 조세부담으로 인하여 원활한 가업승계에 어려움을 겪고 있다. 이러한 배경 하에 본 연구는 가업승계기업의 승계 전·후의 이익조정 및 조세회피 수준을 분석하였으며, 가업승계 유형을 소유권 승계와 경영권 승계로 세분화하여 승계 전·후의 이익조정 및 조세회피 수준 차이를 분석하였다. 2004년부터 2018년도까지 외부감사대상법인을 대상으로 다중회귀분석을 수행한 결과는 다음과 같다. 첫째, 가업승계법인의 승계 후 이익조정 수준은 승계 전에 비해서 낮은 것으로 나타났다. 둘째, 승계 후 이익조정 수준의 감소는 소유권 승계기업이 경영권 승계기업보다 더 큰 것으로 나타났다. 셋째, 가업승계법인의 승계 전과 승계 후에 조세회피 수준은 유의한 차이가 없는 것으로 나타났다. 넷째, 승계 후 조세회피 수준은 소유권 승계기업이 경영권 승계기업보다 큰 것으로 나타났다. 본 연구의 결과는 가업승계가 장기적인 관점에서 안정적인 경영성과를 가져올 수 있으며, 가업승계지원제도의 세제혜택이 기업에 미치는 영향이 크지 않음을 시사하고 있다. 또한, 가업승계 유형에 따라 신임경영자가 추구하는 바가 다르기 때문에 승계 유형이 기업의 이익조정과 조세회피 수준에 영향을 미칠 수 있음을 보이고 있다. 본 연구는 가업승계에 많은 관심을 가지고 있는 다양한 이해관계자들에게 유용한 정보를 제공하고 원활한 가업승계를 위한 도움이 되는 자료로 활용될 수 있을 것으로 기대한다.

The Family Satisfaction of Business-Owning Families

Rha Jong-Youn,Stafford Kathryn The Korean Home Economics Association 2001 International Journal of Human Ecology Vol.2 No.1

This paper expands empirical research on family satisfaction by introducing the family APGAR scale, developed and validated in the field of nursing, to measure the satisfaction of business-owning families and applying the Stafford et al.(1999) model of sustainable family businesses to the assessment of family satisfaction. More specifically, this study compares the differences in the effects of business- and family-related variables on family satisfaction for the families of lifestyle business owners and earner business owners. The sample was drawn from the 1997 National Family Business Survey. The family satisfaction was greater for the families of lifestyle business owners, but the family variables made a greater contribution to the explanation of variance in the satisfaction of families of earner business owners. The regression equation explained a higher percentage of the variance for the families of earner business owners. Nine family variables were significant in the satisfaction equation for earner business owners, in contrast to seven significant family variables in the equation for lifestyle business owners. Structured families had a significant positive effect on the satisfaction of lifestyle business owners. The family manager's education, putting the family first rather than the business, and the family management score had significant effects on the satisfaction of earner business owners.

친족의 지분 승계 및 임원 임용이 기업가치에 미친 영향

백재승,이상휘,한명로 한국기업경영학회 2016 기업경영연구 Vol.23 No.1

Numerous studies have shown the effect of corporate governance structure adopted by firms on firm value. In general, there are particularly positive relationships between firm characteristics of good governance and firm value. In this paper, using Korean firms, we investigated information effect of family-owned business on shareholders' wealth. Especially, we examined this relationship directly by (i) the announcement effects of ownership succession and management appointment of family members on shareholder value and (ii) the determinant of firm value change which includes family managerial activity information through comprehensive empirical work. To investigate the goal of the paper, we consider macroeconomic factors as well as financial character such as financial crisis, business group, firm size and leverage which influence firm value changes following family business events. We classify samples of the heir succession and management appointment into two groups depending upon family business type and business group to determine which category is better to increase firm value for the shareholder's wealth maximization. Also, we include financial crisis period and firm characteristics to see how these factors affect firm value changes. In this regard, our research suggests additional important evidence about the effect of the transfer of the family owned business on firm value with a case of an heir succession and management appointment in Emerging market. Family business Korean financial market has good characteristics that are suitable to examine the value of equity of the firms following financial strategy change. In order to test the hypothesis, we use standard event study methodology with market model. The time horizon sets the announcement date as an event date and observes the performance of 20 days prior and after the disclosure date. Financial data are extracted by KIS-value and FN guide date set which are normally used for the study in this field. Our sample consisted of 512 family business events of the firms announced from 2001 to 2014 and publicly listed and traded institutions reported by the KSE. The independent(control) variables used in the paper are firm size, leverage ratio, managerial performance and dividend ratio, ownership structure, financial crisis period dummy, and the dependent variable is the cumulative abnormal return(CAR) which is calculated by market model. As a result, we find that the relationships between the announcement effect of family business event such as ownership succession and new management appointment of family members and short-term stock return have positive effects due to expectation about future firm performance. However, firm value changes following family business activity have different market reaction due to firm characteristics. While firms with good managerial performance(ROA) and higher ownership by controlling shareholder experience larger increases in the value of their equities, firms with bad performance and lower ownership by controlling shareholder reveal negative market responses. In addition, firms with larger asset and smaller debt experience less impact on their firm value which shows significant relationship between financial characteristics and firm value following family business event. To the extent that firm value enhances after corporate governance structure changes due to the increase in expected return on investment, our results are consistent with the view that non-financial characteristics such as management reshuffling and ownership succession can derive a link between corporate system and firm value. These results are consistent with the view that the increase in the expected rate of return due to family owned business is more pronounced as the succession method fits. Our results suggest that the appreciation of financial share prices is attributable for the factors around family business management and ownership succession. 본 연구는 친족 중심의 기업경영행태가 주요한 비중을 차지하고 있는 기업에서 친족의 지분 승계 및 임원 임용이 기업가치에 미친 영향을 조사하였다. 이 때 기업특성변수를 고려하여 시장의 반응을 측정함으로써 재무적 특성과의 관계도 분석에 포함하였다. 이를 위해 2001년부터 2014년까지 유가증권시장에 상장된 비금융업 표본을 대상으로 친족에 대해 지분을 승계하거나 주요 임원으로 임용 또는 승진한 기업을 대상으로 기업가치에 미친 영향을 조사하였다. 이와 함께 자본구조, 소유구조, 위험도, 기업집단 여부 등의 기업 특성 및 글로벌 금융위기와 같은 경제상황을 고려하여 살펴보았다. 주요 분석 결과는 다음과 같다. 첫째, 지분 승계 및 임원 임용은 공시일 주변 기업가치에 긍정적으로 작용한 것으로 조사되었다. 둘째, 자본구조 측면에서 부채비율이 낮거나 소유구조 측면에서 대주주지분율이 높을수록 지분 승계를 실시할 가능성이 높게 나타났고 이는 임원 임용에도 유사하게 적용되었다. 셋째, 공시일 주변 양(+)의 가치 변화에 영향을 미친 개별 변수로서 외국인지분율, 시장가치, 수익성, 재벌 여부 등이 유의적인 관계를 보였다. 이와 같은 연구 결과는 친족이 경영활동에서 중요한 역할을 차지하는 기업에서 친족의 지분 승계 및 임원 임용과 같은 전략이 효과적인 경우 외부적인 평가가 기업가치 증진에 도움이 된다는 점을 시사한다. 또한 지분 승계 등의 기업전략에 있어서 소유구조, 시장가치 등 해당 기업의 특성을 고려함으로써 보다 효율적인 결과를 유도할 수 있는 기준이 될 것이다. 본 연구의 결과는 국내외적으로 기업활동에 큰 부분을 차지하는 가족기업의 성과를 개선하기 위한 기업전략을 발굴하고 관련정책의 효율성을 높이는 방안을 연구하는데 유용한 참고자료가 될 수 있다.

가업승계지원을 위한 지방세제도 개선방안

남지현 한국지방세학회 2017 지방세논집 Vol.4 No.1

As the first generations that have led the industrial development gradually become aged, there is growing interests in how to smoothly transfer them to the second generation while maintaining identities of corporations. This is called 'family business succession' or 'inheritance of family business', especially 'family firms' take many attentions. The family business succession depends on the method of using the gift and inheritance in civil law, using corporation and stock system in commercial law. And recently the Trust Act has been revised and a method of using the "trust as substitute for will" and "trust with successive beneficiaries" is emerging. As for the support for the family business succession, there are negative opinions because of "wealth of wealth" or closed management. However, it is necessary that the maintenance and development of the company through the guarantee of the continuity of the company should be promoted not only for the company itself but also for the national economic growth. The most effective way to support the family business succession is the support of the tax system. “The inheritance tax and gift tax law” and “The special tax treatment control law” are promoting the family business succession by providing such systems as ‘Inheritance tax relief for business succession ’ and ‘Gift tax exemptions’. However, the discussion in the local tax is still lacking. Korea's tax system is divided into national tax and local tax. The details are different but it shows the form of correspondence between the contents of systemand regulation. Therefore, there is a benefit to examine the improvement plan of the local tax in harmony with the national tax. First, unlike the national tax, the local tax does not have any explicit reference to the family business succession. However, according to the "Act on the regulation of special exemptions to local taxes" there are exceptions to some cases which is actually used to the family business succession such as business mergers and divisions. In this case, however, the relevant regulations exist sporadically. Therefore, it is possible to think about collecting the method of the family business succession and the related tax system together with the independent clause to promote unity with the national tax and to manage the succession tax system effectively. Next, related to the family business succession, the ‘acqusition tax’ is especially be the issue in the local tax system. This is because of the transfer of property due to the family business succession. As for the acquisition tax, it is possible to consider flexible management of the acquisition tax payment period in consideration of the period of stable management after the family business succession. In the case of a trust, it is necessary to establish a clear rule for the time when the beneficiary acquires the trust property. Interest in the family business succession is increasing and various methods for family business succession, such as using trust, is expected. The improvement of the tax policy should be done as soon as possible. And it should be done in parallel with the local tax as well as the national tax to accomplish the goal of succeeding the family business succession smoothly. 산업발전을 이끌어 온 1세대들이 점차 고령화되어 가면서 기업의 동일성을 유지하면서이를 원활하게 2세대로 이전하는 방안에 대한 관심이 증대되고 있다. 이를 ‘가업승계(家業 承繼)’ 또는 ‘가업상속(家業相續)’이라 하며, 특히 ‘가족기업(家族企業)’에서 관심이 높다. 가업승계는 민법 상 증여와 상속을 이용하는 방법, 상법 상 법인과 주식에 대한 제도를이용하는 방법이 있고 최근 신탁법의 개정으로 신탁법 상 ‘유언대용신탁’과 ‘수익자연속신탁’을 이용하는 방법이 대두되고 있다. 가업승계지원에 대해서는 ‘부의 대물림’이나 폐쇄적 경영 등을 이유로 이를 부정적으로보는 견해도 있으나, 기업의 계속성 보장을 통한 기업의 유지ㆍ발전은 기업 자체 뿐 아니라 국가경제적 관점에서도 장려되어야 할 필요가 있다. 가업승계지원의 가장 효과적인 방안으로는 세제의 지원을 들 수 있으며, “상속세 및 증여세법”과 “조세특례제한법”에서 ‘가업상속공제’와 ‘증여세과세특례’등의 제도를 두어 가업승계를 장려하고 있다. 그러나 지방세에서의 논의는 여전히 부족한 실정이다. 우리나라의 세제는 국세와 지방세로 이원화 되어 있고, 세목을 서로 달리하지만, 체계와규정의 내용 상 서로 대응되는 형태를 보이고 있다. 따라서 국세와 조화를 도모하는 방향으로 지방세의 개선방안을 검토해볼 실익이 있다. 먼저 지방세 제도의 체계와 관련하여 지방세에서는 국세와는 달리 ‘가업승계’에 대한 명시적인 언급이나 특별한 규정이 존재하지 않는다. 그러나 “지방세특례제한법”에 의하면 기업의 합병, 분할과 같이 실질적으로 가업승계로 이용되는 몇 가지 경우에 대한 특례가 존재하고 있다. 그러나 이 경우에도 관련 규정이 산발적으로 존재하고 있을 따름이다. 따라서 국세 체계와의 통일성을 도모하고, 가업승계세제의 효율적인 관리를 위하여 ‘가업승계’ 에 관한 독립된 조항을 두고 아래에서 가업승계 방식과 그에 따른 세제를 일괄하여 정리하는 것을 생각해볼 수 있다. 다음으로 가업승계와 관련하여 지방세에서 문제되는 세목으로는 ‘취득세’가 있다. 가업승계에 따른 재산의 이전이 발생하기 때문이다. 취득세에 대해서는 우선 가업승계 이후 경영이 안정화되는 기간을 고려하여 취득세의 신고ㆍ납부기간을 정비하는 방안을 검토해볼 수 있다. 또한 가업승계의 다양한 유형 중 하나인 신탁의 경우 수익자의 신탁재산 취득시기에 대한 명문의 규정을 두어 현재는 유권해석에 의하고 있는 수익자의 취득세 납세의무 성립시기를 명확히 할 필요가 있으며 아울러 신탁법과 관련된 법제 전반에 대한 검토도 필요하다. 가업승계에 대한 관심이 높아지고 신탁 등 여러 가지 방법에 의한 가업승계가 예상되는만큼 세제의 정비도 빠른 시일 내에 이루어져야할 것이다. 그리고 세제의 정비는 국세 뿐아니라 지방세에서도 병행하여 이루어져야 가업승계라는 목표를 원활히 달성할 수 있을 것이다.

한국대규모 기업집단 가족 지분율의 결정요인에 관한 제도론적 고찰

송재용(Jae Yong Song),윤채린(Chae Rin Yun) 한국경영학회 2008 經營學硏究 Vol.37 No.4

Until recently the dominant theoretical perspective applied in corporate governance research has been the agency theory. Agency theory offered the first satisfactory explanation to the governance of modern corporations since Berle and Means(1932) pointed out the essential problems inherent in the separation of ownership and control. However. it is undeniable that the exclusive reliance on agency theory has constrained the advances incorporate governance studies. Therefore. an alternative approach to corporate governance is necessary to recognize the various mechanisms and structures that may operate across the different forms of corporations. Recent studies brought up the issues of corporate governance to the forefront of organization theory. If we take the perspective of organization theory. corporate governance can be broadly conceptualized as a problem of managing various interdependences(Fligstein & Freeland. 1995). Diversified business groups are sets of legally separate firms bound together in formal or informal ways. They are under tight control of founders as entrepreneurs and their family members (Granovetter. 2005 : Guillen. 2001). The national economies of most countries. except for Anglo-American economies. have been dominated by various forms of business groups for decades or even centuries. Hence. understanding business groups is still a very important issue in modern capitalist economies. Most business groups are closely associated with family members of the founder who exert controlling power directly or indirectly through diverse means. Among these multiple means. the equity structure among the group-affiliated companies is the most powerful mechanism to maintain the dominant control of families in most business groups. Drawing on theoretical insights from institutional theory, we view the family control of big business groups as an institutional factor that exist s in the Korea economic system. Also the family's equity investment can be recognized as a family's strategic response to the institutional pressures from both foreign and domestic markets. The family ownership and cross-share holding among group-affiliated companies are both direct and prevalent mechanisms that enable the owner family members to keep on controlling the entire business group. In Korea, these family member s have institutionalized their dominant status in the entire business group. To understand the family's control as an institutional mechanism, we should consider the underlying logics that differentiate the interests of family from those of other stakeholders. In order to clarify the family's control mechanism, we focus more closely on both the economic and non-economic interest s th at influence the incentives of the family member's equity stake in each affiliate company. In this paper, we investigate the factors th at affect the family ownership using a sample of group -affiliated firms in Korea during the period of 2001-2006. The Korean Fair Trade Commission(KFTC) legally defines a business group and identifies a set of firms as a big business group which is often called as chaebol. Since group-affiliated companies ar e of our major interests, we restricted our sample to firms which have been designated as big business groups by the government for six consecutive years. Under this criterion, 11 business groups are selected, and the final sample consists of 1061 firm-year observations. Drawing on institut ion theory, we propose six hypotheses and test them empirically. Specifically, dimensions of (1) profit seeking, (2) group control. and (3) social legitimacy are considered as major factors that influence the level of the founding family's equity investment. We argue that the family's ownership stake can be determined by not only economic interests but also noneconomic factor s such as an investment in symbolic assets of the affiliated- firm's history and the pursuit of social legitimacy. The random effect tobit regression result

가업상속공제의 요건별 개선방안에 관한 연구

임성종,선은정 한국세무학회 2023 세무와 회계저널 Vol.24 No.6

본 논문의 목적은 가업상속공제의 현행 규정을 분석하고 향후 개선방안을 제시하는데 있다. 구체적으로 현행 법 규정을 가업의 요건, 피상속인 요건 및 상속인 요건, 사후관리 요건 등으로 구분하여 분석하고 요건별로 개선방안을 제시하였다. 연구 결과, 다음의 세 가지 방법으로 가업상속공제 제도의 개선방안을 제시하였다. 첫째, 상속세 및 증여세법 시행령 <별표>에 따른 가업상속공제 적용 업종을 주된 사업으로 영위할 것이라는 단서조항 중으로 현행 규정상 제외되어 있는 다양한 업종을 추가하였다. 둘째, 상속인의 대표이사 취임과 관련하여 전문경영인 체계를 통하여 경영의 효율성을 도모할 수 있도록 전문경영인의 도입을 가능하게 하는 방향으로 개정하였다. 마지막으로, 사후관리 규정 중의 하나인 상속인의 지분 유지 요건 중 상속인의 지분유지와 직접적은 관계가 없는 유상증자의 실권과 관련된 규정을 삭제하여 직접적이고 적극적인 주식 처분만을 지분감소로 간주하고 실권과 관련된 규정은 삭제하는 방식으로 개선안을 제시하였다. 본 연구의 공헌점은 가업상속공제의 실효성을 강화하기 위한 구체적인 개선방안을 제안하고 이를 구체적인 세법개정안을 법조문 형식으로 제시했다는 점에 있다. 이러한 구체적인 법조문 형식의 세법개정안은 현실적으로 바로 적용할 수 있는 형태이므로 세무 실무 현장에서 가업상속공제에 대한 이해도를 높일 수 있으며 실무 현장에서 직접적으로 필요로 하는 구체적인 개정 요소들을 미리 파악하는 방향으로 가업상속공제와 관련한 실무 적용력과 이해 가능성을 높일 수 있는 중요한 요소가 될 수 있다. 향후 가업상속공제의 법 개정을 추진하는 정책입안자들이 과세당국자 등에게 가업상속공제의 적용을 원활하게 하고 사후관리 요건을 확인할 수 있는 유익한 시사점이 될 수 있을 것으로 기대할 수 있다. The purpose of this paper is to analyze the current regulations of the family business inheritance deduction and suggest future improvement measures. Specifically, the current laws and regulations were analyzed by dividing them into family business requirements, ancestor requirements, heir requirements, and follow-up management requirements, and improvement measures were suggested for each requirement. As a result of the study, measures to improve the family business inheritance deduction system were suggested in the following three ways. First, various industries excluded from the current regulations were added among the proviso that the business subject to the family business inheritance deduction under the Enforcement Decree of the Inheritance Tax and Gift Tax Act would be the main business. Second, in relation to the inauguration of the heir as the CEO, it was revised to enable the introduction of professional managers to promote management efficiency through a professional management system. Finally, among the requirements for maintaining the heir's share, the regulation related to the real right of the paid-in capital increase, which is not directly related to the heir's maintenance of the share, was deleted, and only direct and active stock disposal was considered a decrease in the share and regulations related to real rights were deleted. The contribution of this study is that it proposed specific improvement measures to strengthen the effectiveness of the family business inheritance deduction, and presented specific tax law amendments in the form of legal texts. Since such a specific tax law amendment in the form of legal texts can be practically applied immediately, it can be an important factor to inspire practical application of the family business inheritance deduction in the direction of enhancing understanding of the family business inheritance deduction in the tax field and grasping specific revision elements directly required in the field in advance. In the future, it can be expected that policy makers who promote the revision of the law on the family business inheritance deduction will be able to provide useful implications to tax authorities to facilitate the application of the family business inheritance deduction and confirm follow-up management requirements.

우리나라 가족기업의 연구동향과 과제

남영호 한국중소기업학회 2020 中小企業硏究 Vol.42 No.2

This study is aimed at the growth and development of family businesses that greatly contribute to Korea's economic development, but the specific research purpose is to firstly examine the research trends and current status of Korean family businesses and compare them with those of developed countries such as the United States. Second, I would like to look at the future research for revitalizing Korean family business research. In addition, we intend to contribute to increasing the interest in this field and the number of researchers involved. The research target of this paper is 212 papers published in professional academic journals for 13 years from 2006 to 2018 when family businesses began to be fully researched in Korea, 112 master's and doctoral dissertations (graduate schools), and 324 totals. As a result of empirical analysis, the number of published papers is increasing more than the initial ones, but it has been on the decline recently. In addition, 57.5% of the journals are papers that do not have specific definitions or simply list the claims of several scholars by analyzing content. Thesis was 33.9%. As for the type of research, qualitative research, which is a conceptual research, is a small number, and empirical research occupies most of the research topics. Research topics and academic dissertations also have a large proportion of management, management strategy, succession, financial accounting, and business performance. In other words, it can be said that the research on family business in Korea corresponds to the early childhood of the United States. First of all, in the future, we need to put more effort into increasing the qualitative research, starting with the definition of a family business, which is an essential problem, in addition to the theory building of family business. Second, as an analysis level of research, we should make family an important level of analysis for existing individuals, groups, and organizations. Third, the research subject and research area should be expanded. It is desperately necessary to study large companies including chaebols, mainly from small and medium-sized companies, which are the existing research areas of family business. In addition, it is considered that it is necessary to appropriately introduce various theories suitable for the interdisciplinary study, which is the characteristic of the family business, for example, theories of family science, psychology, and sociology. Fourth, it should build the research infrastructure. 본 연구는 우리나라의 경제발전에 크게 이바지하는가족기업의 성장·발전을 큰 목적으로 하되 구체적인 연구목적은 첫째로, 우리나라가족기업의 연구동향과 현황을 고찰하고 이를 미국 등 선진국의 그것과 비교하여 본다. 둘째로, 우리나라의 가족기업 연구를 활성화시키기 위한 주요 과제를 살펴보고자 한다. 아울러 이 분야의 관심증대와 더불어 관련연구자를 증대시키려는 데에 이바지 하고자한다. 본 논문의 연구대상은 우리나라에 가족기업이 본격적으로 연구되기 시작한 2006년부터2018년까지 13년 동안 전문 학술지에 발표된 논문 212편과 석․박사 학위논문(일반대학원) 112편, 총계 324편을 대상으로 한다. 실증분석 결과 발표논문은 초기보다 점점 증가하고있지만 최근에 들어와 다소 감소추세에 놓이고 있다. 또한 내용분석으로 가족기업의 정의는구체적인 정의가 없거나 여러 학자들의 주장을 단순 나열한 논문이 학술지 57.5%. 학위논문33.9%로 나타나고 있었다. 연구의 유형은 개념연구인 질적 연구는 소수이며 실증연구가대부분을 차지하고 있었고, 연구주제 역시 학술지와 학위논문 모두 경영관리와 경영전략, 승계, 재무회계, 경영성과가 큰 비중을 차지하고 있었다. 즉 우리나라 가족기업 관련 연구는미국의 유아기에 해당한다고 볼 수 있겠다. 향후 과제는 첫째로, 가족기업 관련 이론구축과 더불어 본질적인 문제인 가족기업의정의부터 고민하는 질적 연구의 증대에 좀 더 많은 노력을 기울어야겠다. 둘째로, 연구의분석수준으로 기존의 개인, 집단, 조직에다가 가족을 중요한 분석수준으로 삼아야겠다. 셋째로, 연구주제와 연구영역의 확대를 꾀하여야겠다. 가족기업의 기존의 연구영역인중소․중견기업 위주에서 대기업과 재벌도 포함하는 연구가 절실히 필요하다. 또한 연구의주제도 가족기업의 특성인 학제적인 학문에 적합한 다양한 학문의 도입, 예를 들면 가족학, 심리학, 사회학의 이론도 적절히 도입하는 것이 필요하리라 여겨진다. 넷째로, 연구의인프라 구축을 들 수 있겠다.

가업승계 의사결정에 영향을 미치는 요인

남상순(Nam, Sang-Soon),홍정화(Hong, Jung-Hwa),차진화(Cha, Jin-Hwa) 한국회계정보학회 2016 한국회계정보학회 학술대회발표집 Vol.2016 No.2

본 연구는 가업승계 의사결정에 직접 영향을 미치는 요인에 관하여 검증하였으며, 또한 이해관계인 만족도의 매개효과 여부를 검증하였다. 이러한 연구목적을 달성하기 위하여 문헌적 연구방법과 설문지를 이용한 조사연구방법을 적용하였다. 설문대상자는 서울특별시와 경기도 일원의 세무사. 공인회계사 등 전문적인 지식을 갖춘 세무대리인과 가업승계 대상기업 근무자로서 이들에게 34개 설문항목을 리커트 7점 척도로 측정하는 설문지 800부를 배부하여 233부를 연구자료로 회수 및 활용하였다. 설문조사를 통하여 수집된 자료에 대한 신뢰성 및 타당성 검증에 이어 변수간 상관관계분석을 실시하였으며, 독립변수인 환경특성요인(사회 환경 특성, 구성원 특성, 상속세제 특성)이 가업승계 의사결정에 미치는 영향을 검증하기 위하여 다중회귀분석과 매개회귀분석을 실시하였다. 본 연구의 결과를 요약하면 다음과 같다. 첫째, 가업승계 관련한 환경요인별 특성이 가업승계 의사결정에 미치는 영향을 살펴보면, 사회환경 특성에서 외부환경과 내부환경, 구성원 특성에서 경영자 특성과 근로자 특성, 상속세제 특성에서 상속요건과 사후관리요건 모두 가업승계 의사결정에 유의한 영향을 미치는 것으로 나타났다. 구체적으로 가업승계 관련한 사회환경 특성에서는 기업의 내부환경 특성이 외부환경 특성보다 가업승계 의사결정에 미치는 영향이 큰 것으로 나타났고, 구성원 특성에서는 경영자 특성이 근로자 특성보다 가업승계 의사결정에 더 큰 영향을 미치는 것으로 나타났다, 또한 상속세제 특성에서는 상속요건보다 사후관리요건에 더 큰 영향을 받는 것으로 나타났다. 둘째, 가업승계 관련한 환경요인별 특성과 가업승계 의사결정간의 관계에서 이해관계인 만족도의 매개효과 여부를 살펴보면 사회환경 특성, 구성원 특성, 상속세제 특성 등 독립변수 모두 종속변수인 가업승계 의사결정에 이해관계인 만족도가 매개변수로서 유의하게 영향을 미치는 것으로 나타났다. 본 연구는 다음과 같은 한계점을 가지고 있다. 첫째, 본 연구의 응답자들이 가업승계대상기업과 세무대리인 모집단의 대표성을 확보할 수 없다는 한계가 있다. 주로 수도권에 소재하는 모집단을 대상으로 선정하여 전국적인 분포현황에 비례하여 설문을 시행하지 못한 한계가 있다. 또한 복잡한 세제상 요건에 관한 설문을 응답자들이 정확히 이해하고 응답하였는지 의문이 있어 연구결과를 일반화하는데 한계가 있다. 둘째, 가업승계 의사결정에 영향을 미치는 요인에 관하여 본 연구에서 채택한 변수 이외에 후계자 양성과정이나 가업상속재산을 포함한 상속재산 분배 등 다양한 변수들이 있을 수 있으나, 이러한 변수들을 포괄하지 못한 한계가 있다. There are some purposes of this study. First, how the environmental characteristic affects the decision making in family business successions. Second, how the satisfaction in interests affects both decision making and environmental characteristics related to family business successions. In order to attaining the study purpose, It considers the theoretical background and the precedent study through literature analysis by using the questionnaires. The study objects are corporations and tax delegates interested in the family business successions in Seoul and Gyeonggi Province. Their responses are used into the study though statistical analysis. The survey has 34 questions about the decision of family business successions, satisfaction in interests and environmental characteristics related to family business successions. Also, they are set by Likert 7 points. The study sums it up in a word just like below. First, in the affection of decisions in family business successions to environmental factor characteristics, the social environmental, members, inheritance tax characteristics have similar affection to decisions of family business successions. Second, it is found that the satisfaction of interests in independent variables, the three above characteristics, has significantly affected to a family business successions by looking into the mediated affects or not. This study has some limitation as shown below. First, it cannot make sure that the response of our questionnaires is the representative of tax agency and corporation which is trying to succeed the business to their family. Also, there could make the mistake of hasty generalization for that the responses do not understand exactly to complicated tax requirements. Second, What does family business inheritance decision makes cause and effect that family business inheritance was able to investigation which found differences between the object of company and Tax agency from survey. However, the investigation was not enough to found limits of causes. Third, the research show bounded of family business inheritance decision to cause and effect such as, training successor or succession to a family occupation property which include distribution of family occupation. Finally, the study try to found that what family business inheritance affect decision in relation of environmental family business by logical reason. However, the study need to provide advanced research which need to base on specific relation.