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.
We investigate whether managers' personal political orientation helps explain tax avoidance at the firms they manage. Results reveal the intriguing finding that, on average, firms with top executives ...who lean toward the Republican Party actually engage in less tax avoidance than firms whose executives lean toward the Democratic Party. We also examine changes in tax avoidance around CEO turnovers and find corroborating evidence. Additionally, we find that political orientation is helpful in explaining top management team composition and CEO succession. Our paper extends theory and research by (1) illustrating how tax avoidance can serve as another measure of corporate risk taking and (2) using political orientation as a proxy for managerial conservatism, which is an ex ante measure of a manager's propensity toward risk.
The dominant perspective used to understand racial bias in leader selection decisions is leader categorization theory (LCT). Received wisdom is twofold: evaluators prefer White leaders because they ...possess prototypical leader traits; however, during periods of decline, evaluators prefer racial minority leaders because their stereotypical traits (e.g., warmth) position them to galvanize followers. We argue that whereas LCT is useful for explaining racial bias in nonsuccession contexts, it is insufficient for explaining racial bias during succession. During succession, evaluators focus on the predecessor as the comparison point when evaluating candidates. This causes stereotypes and prototypes to fade from evaluators' minds, only to be replaced by a different racial bias-racial transference-which occurs when evaluators falsely assume that a leader candidate has the same personality traits as a racially similar predecessor, and thus will perform similarly. Consequently, evaluators select (reject) candidates who are racially similar to successful (unsuccessful) predecessors. We find support for these predictions in an archival study, a preregistered experiment, and three supplementary studies. Altogether, theory on racial transference establishes that racial bias during succession is driven by evaluators' tendency to generalize between racially similar predecessors and candidates, even if such generalizations are inconsistent with prevailing stereotypes and prototypes.
Many family business owners want their offspring to continue the family business after they have retired. However, they may lack “willing successors.” Drawing on resource–based logic, this paper ...proposes parental business strategies which enhance the attractiveness of continuation by offspring. These strategies include investment in intangible capital, which is less valuable if offspring sell the firm, and high levels of parental effort. As a by–product, these strategies enhance the financial performance and longevity of those family firms which adopt them, and might help explain the global prevalence of family firms as an organizational form.
Prior research on CEO succession has omitted consideration of a critical institutional reality: some exiting CEOs do not fully depart the scene but instead remain as board chairs. We posit that ...predecessor retention restricts a successor's discretion, thus dampening his or her ability to make strategic changes or deliver performance that deviates from pre-succession levels. In short, a predecessor's continuing presence suppresses a new CEO's influence. Based on analysis of 181 successions in high technology firms, and with extensive controls (for circumstances associated with succession, the firm's need and capacity for change, and for endogeneity), we find substantial support for our hypotheses. In supplementary analyses, we find that retention has a more pronounced effect in preventing a new CEO from making big performance gains than in preventing big drops.
The objectives of this study are: 1) To understand how the Hiziban tradition can serve as a momentum to enhance the characteristics of Al Washatiyyah and contribute to the realization of Islah in the ...personal and social lives of the successors of Maulana Syaikh's struggle; 2) To explore the relationship between the Hiziban tradition, the characteristics of Al Washatiyyah, and Islah in the context of Maulana Syaikh's struggle; 3) To identify the perspectives, experiences, and challenges faced by individuals involved in the Hiziban tradition regarding the enhancement of Al Washatiyyah characteristics and efforts in Islah as the successors of Maulana Syaikh's struggle. This research employs a qualitative descriptive method with a phenomenological approach. The study was conducted in Lombok, West Nusa Tenggara, with a sample of Hiziban congregants. Data collection techniques include in-depth interviews, participatory observation, documentation, and document analysis. The research validity and reliability are ensured through data triangulation, researcher reflection, and participant feedback. Data analysis is conducted using a thematic analysis approach. The findings of this study are as follows: 1) The Hiziban tradition can serve as a momentum to enhance the characteristics of Al Washatiyyah and contribute to the realization of Islah in the personal and social lives of the successors of Maulana Syaikh's struggle through several mechanisms and aspects, namely: worship and remembrance practices, the formation of quality communities, education and teaching, and social empowerment and well-being; 2) The relationship between the Hiziban tradition, the characteristics of Al Washatiyyah, and Islah in the context of Maulana Syaikh's struggle is interconnected and mutually influential. The Hiziban tradition plays a role as a momentum that strengthens the characteristics of Al Washatiyyah and contributes to the realization of Islah in the context of Maulana Syaikh's struggle; 3) Individuals involved in the Hiziban tradition have positive perspectives on spiritual values and practices, profound experiences in these practices, but also face challenges in maintaining consistency, motivation, and overcoming negative perceptions from the surrounding community. Awareness of these challenges can help individuals design appropriate strategies to overcome obstacles and continue to develop themselves in the journey of enhancing the characteristics of Al Washatiyyah and efforts in Islah.
Washington Irving and Islam contributes to understanding the relationship between the United States and the Islamic world, valuable not only for studies of Washington Irving, American Literature, or ...Islam, but also for thinking through the role Islam and the “Orient” have played in American literature and history, a critical field receiving ever-increasing attention. The global context of Irving’s work ties these essays together as does an understanding that his writings challenge easy classification of the Muslim other, and, indeed, challenge easy classification of Irving’s own responses to that other. Washington Irving bestrides opposing positions as well as distant worlds.
Recent evidence suggests that successors do not simply inherit their parents’ firm, but have to pay a certain price. Building on institutional logics literature, we explore successors’ family ...discount expectations, defined as the rebate expected from parents in comparison to nonfamily buyers when assuming control of the firm. We find that family cohesion increases discount expectations, while successors’ fear of failure and family equity stake in the firm decrease discount expectations. Higher education in business or economics weakens these effects. On average, in our study comprised of 16 countries, successors expect a 57% family discount.
Cynipid gall wasps play an important role in structuring oak arthropod communities. Wasps in the Cynipini tribe typically lay their eggs in oaks (Quercus L.), and induce the formation of a ‘gall’, ...which is a tumor-like growth of plant material that surrounds the developing wasp. As the wasp develops, the cynipid and its gall are attacked by a diverse community of natural enemies, including parasitoids, hyperparasitoids, and inquilines. Determining what structures these species-rich natural enemy communities across cynipid gall wasp species is a major question in gall wasp biology. Additionally, gall wasps are ecosystem engineers, as the abandoned gall is used by other invertebrates.The gall-associated insect communities residing on live oaks (Quercus geminata Small and Quercus virginiana Mill.) are emerging as a model system for answering ecological and evolutionary questions ranging from community ecology to the evolution of new species. Documenting the arthropods associated with cynipids in this system will expand our understanding of the mechanisms influencing eco-evolutionary processes, record underexplored axes of biodiversity, and facilitate future work. Here, we present the community of natural enemies and other associates of the asexual generation of the crypt gall wasp, Bassettia pallida Ashmead. We compare the composition of this community to communities recently documented from two other cynipid gall wasps specializing on live oaks along the U.S. Gulf coast, Disholcaspis quercusvirens Ashmead and Belonocnema treatae Mayr. B. pallida and their galls support a diverse arthropod community, including over 25 parasitoids, inquilines, and other associated arthropods spanning 5 orders and 16 families.
PDF
