Cross-Border Life and Work: Social, Economic, Technological and Jurisdictional Issues (Contributions to Management Science)

Preface
Contents
Regional Affordances and Resilient Communities
	1 Introduction
	2 Resilient Regions
		2.1 Resilience
		2.2 Regions
		2.3 The Argument for Resilience: Regional Risk Management
	3 Regional Affordances and Constraints
	4 Evolutionary Regional Resilience
	5 Discussion
	6 Conclusion
	References
Site Selection According to Life Cycles in Agglomeration Areas: A Dynamic and Interdisciplinary Location Analysis of the Four-Country-Region Lake Constance-Alpine Rhine Valley
	1 Introduction
	2 Theoretical Framework
		2.1 Monocentric and Polycentric Areas
		2.2 Regional Development and Attractiveness in a Knowledge Economy
		2.3 Knowledge Work and the Creative Class as the Future
		2.4 Site Selection and Location Factors
	3 Methodology and Case
		3.1 The Four-Country-Region Lake Constance-Alpine Rhine Valley
		3.2 Case Study Methodology
			3.2.1 Research Method
			3.2.2 Sample
	4 Results
		4.1 Principality of Liechtenstein
		4.2 Austria
		4.3 Switzerland
		4.4 Germany
		4.5 Comparison of the Four Regions
	5 Discussion and Conclusion
		5.1 Liechtenstein
		5.2 Austria
		5.3 Switzerland
		5.4 Germany
		5.5 Limitations
		5.6 Future Developments
		5.7 Concluding Remarks
	References
Cross-Border Philanthropy: Current Challenges in Corporate Governance and Financial Risk Management
	1 Corporate Governance Considerations for Cross-Border Philanthropy
		1.1 Introduction
		1.2 Philanthropic Foundations and Jurisdictional Competition
		1.3 Governance
			1.3.1 Corporate Governance
			1.3.2 Foundation Governance Models
			1.3.3 Foundation Governance as Soft Law
		1.4 Liechtenstein Foundation Law: Structures of Governance
			1.4.1 Internal and External Governance
			1.4.2 The Definition of Common Benefit
			1.4.3 Official Supervision of Common-Benefit Foundations
				Preventative Measures
				Punitive Measures
				Internal and External Governance Combined for Common-Benefit Foundations
				Summary
			1.4.4 Amending the Purpose as a Measure of Governance Structures
		1.5 Conclusion
	2 Financial Risks in Cross-Border Philanthropic Institutions
		2.1 General Business Model of Philanthropic Institutions
		2.2 Financial Risks and Management Approaches
			2.2.1 Overview on Financial Risks
			2.2.2 Risk Management Approaches
		2.3 Specific Challenges in Asset Management
		2.4 Conclusion
	References
Cross-Border Wealth Management
	1 Introduction
	2 Drivers of Cross-Border Wealth Management from the Investors’ Perspective
		2.1 Mobility
		2.2 Diversification
		2.3 Locational Advantages
			2.3.1 Economics
			2.3.2 Legal
				Optimizing Legal Designs
				Access to Markets, Know-How, and Regulation
			2.3.3 Taxation
		2.4 Centralized Management: Holistic Wealth Management Approach
		2.5 Taxation
			2.5.1 Tailoring Taxation to Investor Base
				Example 1: Widely Spread Mutual Funds
				Example 2: Family Office
			2.5.2 Optimizing Taxation on the Entity Level
				Corporate Income Tax
				Tax on Transactions
			2.5.3 Optimizing Taxation on the Investor Level
				Tax Management
				Estate Planning
	3 Costs of Cross-Border Wealth Management
		3.1 Legal Complexity
			3.1.1 Public Law Dimension
			3.1.2 Private Law Dimension
				Private International Law Dimension: Which Private Law Applies?
				Recognition of Foreign Entities?
		3.2 Taxation
			3.2.1 Tightening of Regulations: MiFID II, Tax Transparency, FATCA, and CRS
			3.2.2 Repatriation and Regularization of Assets
			3.2.3 Transfer to Nonbankable Assets
	4 Factors That Impact on Cross-Border Wealth Management Structures
		4.1 Risks
			4.1.1 Currency Risk
			4.1.2 Political Risk
			4.1.3 Legal Certainty
		4.2 Multilateral Agreements and Regulatory Competition
			4.2.1 Elimination of Borders (Passporting)
			4.2.2 European and Global Harmonization
				Harmonization of Law
				Harmonization of Supervision
		4.3 Regulatory Competition
		4.4 Taxation
			4.4.1 From BEPS to ATAD
			4.4.2 Tax Cooperation and Tax Transparency
	5 Conclusion
	References
Crowdfunding in German-Speaking Countries: A Literature Review from an Economics and Legal Perspective
	1 Introduction
	2 Historical Development and Definitions of Crowdfunding
		2.1 Origins of Crowdfunding
		2.2 Definitions and Approaches
	3 Crowdinvesting as the Main Approach in German-Speaking Countries
		3.1 The Equity Crowdfunding (Crowdinvesting) Process
		3.2 Fundraisers
			3.2.1 Entrepreneur Motivation
			3.2.2 Start-Up Funding
			3.2.3 Early-Stage Gap and Substitution of Traditional Funding Sources
		3.3 Investors
			3.3.1 Motivation and Characteristics of the Investors
			3.3.2 Profit Sharing and Accretion of Start-Ups
			3.3.3 Information Asymmetry and Profitability of Investments
		3.4 Platforms
			3.4.1 Function of Platforms
			3.4.2 Platform Design
			3.4.3 All-or-Nothing and Keep-It-All Model
		3.5 Benefits and Risks
			3.5.1 Benefits
			3.5.2 Fundraisers’ Risks
			3.5.3 Investors’ Risks
	4 Crowdfunding Markets in Liechtenstein, Austria, Germany, and Switzerland
		4.1 German Campaigns
		4.2 German Investors
	5 An Outlook at Cross-Border Crowdfunding
		5.1 Behavioral Biases
		5.2 Multiple Tax Systems
		5.3 Multiple Legislation
	6 Conclusion
	References
Family Business Across National Borders: Strategies and Processes of Internationalization
	1 Introduction
	2 Theoretical Background
		2.1 Family Businesses
		2.2 Internationalization of FBs
	3 Financial Factors Influencing FB Internationalization
		3.1 Benefits of International Diversification
		3.2 Real Options Perspective
		3.3 International Taxation Issues
	4 The Internationalization Process
	5 Conclusion
	References