This study explores family business succession. In this study, succession is compared to the concept of opportunity versus necessity entrepreneurship. The motivations of successors when they enter ...the succession process are examined to identify different conditions for family business success and sustainability. The influence of context is also considered. This study is based on multilevel research and a multidisciplinary perspective. Fuzzy-set qualitative comparative analysis (fsQCA) is applied to a sample of 383 observations from 6 countries (Portugal, Italy, Greece, Cyprus, North Macedonia, and Bulgaria) spanning 2 regions: southern European Mediterranean countries (Portugal, Italy, Greece, and Cyprus) and southern Slavic countries (North Macedonia and Bulgaria). The interplay between personal characteristics of the successor, organizational characteristics of the family business, and context produces different patterns that lead to different outcomes in the succession processes of family businesses. The results are important to strengthen family business theory and identify the conditions that best promote the future growth and sustainability of family businesses. The results are also important to promote country-specific public policies that may create better conditions for successors in family businesses to succeed.
With the arbitrariness of family business decision-making and the complexity of interests become increasingly prominent, the transformation and innovation of family business are imminent. Under the ...above background,
via
analysis of data from 259 valid questionnaires from more than ten family businesses in China as a sample and with the help of the SPSS and AMOS, this study explored the impacts of identification on creativity of the family business as well as the mediating role of family business support by constructing a mediating model. The results show that the employee’s identification has a positive impact on the creativity of the family business. Besides, identification has a positive impact on family business support and family business support has a partial mediating role between identification and family business creativity. Especially, the emotional support does not have a mediating role, whereas the instrumental support has a complete mediating role between identification and family business creativity.
Producing Culture and Capital is a major theoretical contribution to the anthropological literature on capitalism, as well as a rich case study of kinship and gender relations in northern Italy. ...Drawing on ethnographic and archival research on thirty-eight firms in northern Italy's silk industry, Sylvia Yanagisako illuminates the cultural processes through which sentiments, desires, and commitments motivate and shape capitalist family firms. She shows how flexible specialization is produced through the cultural dynamics of capital accumulation, management succession, firm expansion and diversification, and the reproduction and division of firms. In doing so, Yanagisako addresses two gaps in Marx's and Weber's theories of capitalism: the absence of an adequate cultural theory of capitalist motivation and the absence of attention to kinship and gender. By demonstrating that kinship and gender are crucial in structuring capitalist action, this study reveals these two gaps to be different facets of the same omission. A process-oriented approach to class formation and class subjectivity enables the author to incorporate the material and ideological struggles within families into an analysis of class-making and self-making. Yanagisako concludes that both "provincial" and "global" capitalist orientations and strategies operate in an industry that has always been integrated into regional and international relations of production and distribution. Her approach to culture and capitalism as mutually constituted processes offers an alternative to both universal models of capitalism as a mode of production and essentialist models of distinctive "cultures of capitalism."
Latent Profile Analysis Stanley, Laura; Kellermanns, Franz W.; Zellweger, Thomas M.
Family business review,
03/2017, Letnik:
30, Številka:
1
Journal Article
Recenzirano
We demonstrate how latent profile analysis (LPA) can be applied to generate profiles (i.e., homogenous subgroups) in a sample of family firms. In doing so, we highlight how LPA can provide additional ...insight into family firm phenomena when used in conjunction with other methodological approaches (i.e., regression). We compare LPA with other techniques (i.e., cluster analysis and qualitative comparative analysis) and show LPA’s superior ability to capture complex patterns of important family firm characteristics. We demonstrate how profiles can be linked to differences in dependent variables, providing family firm scholars with a tool to assess heterogeneity and its consequences among family firms.
•We present a model describing daughters’ paths to succession in family businesses in the U.S., based on a study of supply and demand factors that influence daughter succession.•We examine contextual ...factors that influence the selection and self-selection of successors in family businesses, using gender theory combined with the theory of planned behavior, a decision model.•Gender norms, which are automatically activated, blind daughters to possibilities of succession.•Gender norms make daughters invisible to others as successors.•Gender norms may be overcome when a critical event occurs followed by mentoring.
Statistics reveal a dearth of daughters among successors of family business owners. In one of very few empirical studies on the subject of daughters who do not follow in the footsteps of their entrepreneurial fathers, we examined factors that may contribute to daughters’ self-assessments of succession. Findings reveal that daughters’ own blindness to the possibility of succession, often resulting from automatically activated gender norms, impedes their ascendancy. Interviews with daughters who did not pursue executive positions with decision making responsibilities in their family firms, as well as both sons and daughters who did, indicate that daughters may not deliberately consider succession until a critical event motivates them to do so. Additionally, parental support and mentoring for leadership are seen to facilitate daughter succession.
Considering the heterogeneity of family firm behaviors as reflecting the values, biases, and heuristics of individuals, we discuss the implications of the psychological foundations of management in ...family firms. We develop a conceptual framework for investigating how the values, biases, and heuristics of family and nonfamily members affect strategic decision-making and the outcomes of family firms. To advance the field, we put forward some relevant questions and offer a future research agenda at the intersection of the psychological foundations of management and family business.
Family businesses represent 80% of global business structures, but the low rate of successful transgenerational succession can have drastic implications for employees and local economies. A 12-year ...longitudinal study of 89 Canadian family businesses revealed that successors’ confidence and perceptions of incumbent support predicted successor intrinsic motivation to take over the business, which in turn predicted whether the business was successfully transferred 12 years later. Incumbent support and intrinsic motivation mediated the relation between incumbent trust in the successor and successful business succession. This study demonstrates the dual importance of incumbent and successor psychological states in determining succession outcomes.
Among family businesses (FBs) internationalization has become a strategy for growth, and sometimes even for survival. This review article presents an analysis conducted on 25 refereed journal ...articles on FB internationalization. The articles typically portrayed the internationalization of FBs as a sequential process following the Uppsala model of internationalization; by contrast, some FBs were regarded as “born-again” global firms. In methodological terms, most of the articles focused on what-questions rather than why/how-questions. The articles did not make much use of internationalization or FB-specific theories. Our study takes a step towards clarifying the following issues: (i) the current state of knowledge of the phenomenon, (ii) the kinds of background theories applied, and (iii) the methodological approaches utilized. Based on our findings, we map out areas of research that are likely to advance the field of FB internationalization.
With this study, we attempt to understand how emotions influence the intergenerational transfer of knowledge in family businesses from the perspective of emotional heterogeneity. We use a qualitative ...methodology of multiple case studies to comprehensively address theissue. The results indicate that emotions influence knowledge transmission and learning, sotransmission is more effective in Enmeshed and Balanced family businesses than in Disengaged ones.
Purpose
This study aims to review major themes and findings of research into financial management of family business and to suggest new directions for future research.
Design/methodology/approach
...This is a perspective article beginning with literature review to summarize prior research and to identify main findings and issues. The paper then develops themes, questions and opportunities for future research.
Findings
This paper presents a summary of principal research streams in the financial management of family business. Prior research has found significant differences in financial performance, in financial policies and in ownership and governance structures and behavior. These research findings vary by industry, by country and by stage of economic development. While extensions of these streams will add additional richness to the author’s understanding of finance in family business, recent innovations in the role and organization of the firm and in access to key resources suggest promising new research paths. There are also important lessons from financial practices in family business that have broader applicability.
Originality/value
This is a perspective article suggesting that many financial and governance issues central to family business have broader applicability to nonfamily business. Substantial value can be added by applying these learnings to a broader corporate finance context. Innovations in financing, governance and organizational design are transforming financial management in family business. In addition, changes in markets and industries create new opportunities for financing family business and for new strategic opportunities.
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