1,721,008 research outputs found
Do we really want to cut out the deadwood? Family-centered noneconomic goals, restructuring aversion, and escalation of commitment
No full textWe contribute to the theoretical depiction of family firms’ reactions during a downturn by adopting the ability and willingness approach. Specifically, we suggest that the combination of the ability and the willingness to pursue family-centered noneconomic (FCNE) goals makes family firms less likely to engage in restructuring activities and more likely to engage in an escalation of commitment. Moreover, we further investigate the family firms’ heterogeneity and introduce the idea that the willingness of family firms to pursue FCNE goals may be influenced by the geographical context and the generational stage of the enterprising family
Environmental jolts, family-centered non-economic goals, and innovation: A framework of family firm resilience
No full textBuilding on extant research on family firm resilience, we propose a framework to discuss the impact of family-centered non-economic goals on a firm’s ability to absorb and react to environmental jolts. This chapter aims to advance current knowledge on the goal-related antecedents of innovation strategies in family firms by theorizing on how family firms approach slack resource deployment and choose between investments in closed vs. open innovation as a response to environmental jolts. Building on prospect theory assumptions about risk-taking behavior, we make a contribution to understanding heterogeneity of resilient family firms, which are spurred to innovate in light of the degree of relevance of pursued family-centered non-economic goals
Women on boards in family firms: What we know and what we need to know
No full textGender diversity in family firms is increasingly attracting the attention of scholars across several fields. Despite this, there are few literature reviews that synthesize these research streams in the context of family businesses. To fill this gap, we examined the literature on gender diversity on the boards of family businesses by providing some insights into how the typical traits of family firms’ boards interact with the diversity effects linked to the presence of women. This analysis is the starting point for identifying possible research areas not yet addressed by scholars, and therefore defining the research agenda on the subject
The dynamics of identity, identity work and identity formation in the family business : Insights from identity process theory and transformative learning
No full textWe develop a new perspective on leadership and identity in the family business using the concepts of identity process theory, transformative learning and identity work to demonstrate how the leader of a first- to second-generation transitioning family business in a traditional masculinist manufacturing sector constructs her identity in the face of significant identity threats personally and organisationally. We illustrate the interconnectedness between the leader’s identity, her lived experience, current context and enactment of her leadership. Our analysis demonstrates the applicability of identity process theory as a novel framework for identity research in family business, and of transformative learning as both a coping strategy and an identity workplace in the face of significant identity threats. © The Author(s) 2019
Environmental jolts, family-centered non-economic goals and innovation : Toward a framework of family firm resilience
No full textBuilding on extant research on family firm resilience, we propose a framework to discuss the impact of family-centered non-economic goals on a firm’s ability to absorb and react to environmental jolts. This chapter aims to advance current knowledge on the goal-related antecedents of innovation strategies in family firms by theorizing on how family firms approach slack resource deployment and choose between investments in closed vs. open innovation as a response to environmental jolts. Building on prospect theory assumptions about risk-taking behavior, we make a contribution to understanding heterogeneity of resilient family firms, which are spurred to innovate in light of the degree of relevance of pursued family-centered non-economic goals
All the same but different: Understanding family enterprise heterogeneity
Get PDFWe explore heterogeneity in family firms from its core antecedents: the presence of family and their pursuit of dual logics in decision-making and position servant leadership, stewardship, and trust as emanating core philosophies, which manifest in an organization-level (AGES) and individual-level (SAGE) framework, and ultimately skill-sets that are all unique to family firms but which also serve to differentiate within this class of firms. Our conceptual meta-model of family enterprise heterogeneity serves as a guide for family firms to identify and understand the perception versus reality of their heterogeneity, and then enables the development of strategies to maintain organizational culture and/or evaluate organizational change
Family Values: Influencers in the Development of Financial and Non-financial Dynamics in Family Firms
Get PDFThe role of family values is considered here as one potential contributor to heterogeneity. The pursuit of profit as an end goal may be key for many family businesses, but there are well-documented cases of businesses where corporate citizenship and philanthropy are integral to the business model. Earlier work has highlighted that where one family has a predominant level of control in a business, their family values may assume greater importance and thereby be more likely to influence strategy. Within this chapter, we propose that the concentration of family values that occurs when one family has a predominant level of control within the business may be a key contributor to the development of financial and non-financial dynamics, representing one way in which strategy is developed and implemented.div_BaMpub5263pu
Boards of advisors in family small- and medium-sized enterprises
No full textThis study examines the determinants of advisory boards in Dutch family small- and medium-sized enterprises. Boards of advisors consist of committed people that recurrently provide advice to the family firm’s decision-makers. Using resource-dependence theory, we hypothesize and find empirical support for the positive influence of highly dynamic environments on the presence of an advisory board. Contrary to our expectations, the presence of a board of directors positively influences the likelihood of having an advisory board, suggesting complementarity between these two governance mechanisms. We found no support for a generational effect on advisory board presence
Competitive Advantage in Long-Lived Family Firms: Implications of Market Characteristics and Strategically Relevant Knowledge
No full textLiterature concerning intra-family succession versus non-family succession is still limited. As a result, we know relatively little about the impact of an internal succession on keeping strategically relevant knowledge inside the business. Consequently, this chapter’s primary research interest is the interplay between market context and strategically relevant knowledge resources in long-lived family firms. Based on the market-based view and resource theory, we suggest that in some market environments, family-business-specific experiential knowledge forms a basis for competitive advantage and that such knowledge can be transferred to internal successors easier than to external successors. Several propositions are developed and discussed in relation to six case studies of long-lived family businesses from different market contexts. As a result, we put forward four revised propositions for future research to investigate.</p
Defining Family Business: A Closer Look at Definitional Heterogeneity.
Get PDFResearchers have used a myriad of different definitions in seeking to explain the heterogeneity of family firms and their unique behavior; however, no widely-accepted definition exists today. Definitional clarity in any field is essential to provide (a) the basis for the analysis of performance both spatially and temporally and (b) the foundation upon
which theories, frameworks and models are developed. We provide a comprehensive analysis of prior research and identify and classify 82 definitions of family business. We then review and evaluate five key theoretical perspectives in family business to identify how these have shaped and informed the definitions employed in the field and duly
explain family firm heterogeneity. Finally, we provide a conceptual diagram to inform the choice of definition in different research setting
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