Enterprise foundations are foundations that own companies.
Enterprise foundations are independent, self-governing entities with no owners. They are characterised by long time horizons, philanthropic goals and the absence of personal profit motives.[1] Enterprise foundations generally have philanthropic as well as business purposes, and often concentrate their investments in a single firm or a single business group. Many of the best known foundation-owned companies are publicly listed, while the enterprise foundation retains a controlling ownership position, commonly through voting rights via different share classes. Ownership can be full (100% ownership) or just a controlling influence. The companies owned by enterprise foundations may be active in any private business activity.
Other terms used to describe the same phenomenon are "industrial foundations", "corporate foundations", "commercial foundations", "business foundations", "commercial non-profits" and "foundations with corporate interests".
A defining feature of enterprise foundations is that the foundation controls the company which it owns, and not the other way around. Consequently, the majority of corporate foundations around the world, who do philanthropy on behalf of a company, are not enterprise foundations. Moreover, enterprise foundations are private entities not governmental or quasi-governmental institutions.
Several big international companies are owned by enterprise foundations, including the Indian Tata Group, the Swedish Wallenberg businesses, the Danish pharmaceutical company Novo Nordisk, US Hershey, German Robert Bosch, Swiss Rolex and IKEA.[2] Enterprise foundations are most common in the Nordic country of Denmark, where enterprise foundations account for almost half of domestic stock market capitalisation.[2] In Denmark, enterprise foundations own three of the four largest Danish companies; A.P. Moller – Maersk (A.P. Moller Foundation), Novo Nordisk (Novo Nordisk Foundation) and Carlsberg (Carlsberg Foundation).[2]
^"What is an Enterprise Foundation? – Enterprise Foundations" (in Danish). Retrieved 15 August 2022.
^ abcThomsen, Steen; Kavadis, Nikolaos (8 March 2022). "Enterprise Foundations: Law, Taxation, Governance, and Performance". Annals of Corporate Governance. 6 (4): 227–333. doi:10.1561/109.00000031. ISSN 2381-6724. S2CID 247373467.
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