Business Commons^™

Revisiting The Purpose Of Business, Joseph Bamber, Andy Borchers

Faculty Publications

While it is easy to see the ways that business has gone global today, it is less easy to see how scriptural ideas for holistic business are currently put in practice. We have outlined themes related to business found in Scripture and used them to create a holistic scorecard for businesses. We also compare recent views on the purpose of business and some businesses that follow these models using the scorecard. We include the classic 1970 essay by Milton Friedman (“The Social Responsibility of Business is to Increase Its Profits”) and continue through John Elkington (Cannibals with Forks), Mackey & …

The Impact Of Corruption On Firm Tax Compliance In Transition Economies: Whom Do You Trust?, Anna Alon, Amy M. Hageman

Faculty Publications

Tax compliance is an important issue for governments and the public alike. To meet public needs and fund public mandates, firms around the world are expected to comply with tax laws. Factors that are related to organizational (firm) tax compliance have not been sufficiently examined in the literature. Due to the increasing global influence of transition economies, factors associated with firm tax compliance in transition economies are particularly of interest. Based on a sample of over 5,000 firms from 22 former Soviet Bloc transition economies, we find that higher levels of corruption and higher levels of particularized trust (reliance on …

The Unique Benefits Of Treating Personal Goodwill As Property In Corporate Acquisitions, Darian M. Ibrahim

Faculty Publications

Corporate acquisition talks may not get far if buyer and seller disagree over transaction structure, which can have significant after-tax effects. But the parties may have overlooked an item that, due to its potential tax treatment, could be the key to facilitating the acquisition. That item is the selling shareholder's "personal goodwill."

Personal goodwill exists when the shareholder's reputation, expertise, or contacts gives the corporation its intrinsic value. It is most likely to be found in closely held businesses, especially those that are technical, specialized, orprofessional in nature or have few customers and suppliers. If personal goodwill is treated as …