Family Firms

Russo - 2011 - Contingent work and organizational attitudes in family and nonfamily firms. An analysis of the Italian hospitality industry

by Marcello Russo

O grupo Randon: Estratégia e trajetória de expansão a partir do enfoque da teoria evolucionária da firma

by Elson Rodrigo Souza Santos

Co-authored: Armando Dalla Costa

The objective this paper is explorer the strategic and trajectory of expantion of the of the Randon Group. This... more The objective this paper is explorer the strategic and trajectory of expantion of the of the Randon Group. This enterprise born how garage little in city of Caxias do Sul – RS, in the south of Brazil at decade of 1940, grounded over Raul Anselmo and Hercílio Randon brothers front the need of a means of survive. In the decades of 1950 and 1960, the Randon brothers known harness the environment and create the opportunities for transformed the garage in industry, leader in the market of implements for trucks. In the decade of 1970 the enterprise transformed in S. A. with holding negotiate in stock exchange for viable itself expantion, damage for crisis of the decade of 1980 that provoked an situation hard to firm. After this fact, the Randon Group again to growth across of enterprise in the market of car spare, financial services, special vehicles and implements. Moreover, the Randon Group have vacation for be multinational not only and great export, but with industrial plants in others countries and search of investors and partner for growth.

Corporate Governance and Corporate Social Responsibility in Family Owned Firms: A Case Study of a Greek Shipping Company

by Ektor Tsatsoulis

DoStilllWatersRunDeep

by Claudia Binz

BRIDGING SOCIAL CAPITAL IN THE FOREIGN MARKET ENTRY AND ENTRY MODE CHANGE OF FAMILY SMEs

by Arto Ojala

Family business studies have focused on the importance of bonding social capital whereas, despite its importance,... more Family business studies have focused on the importance of bonding social capital whereas, despite its importance, bridging social capital has not been the focus of much research to date. In the internationalization process of a firm, it has been argued that bridging social capital plays an important role. The purpose of this article is to examine the role of bridging social capital in the initial entry and operation mode change of eight family SMEs. We found that in foreign market entry social capital had generally the serendipity role based on weak and intermediary relationships. In the entry mode change, the role of strong and formal ties was obvious and the roles of social capital were most generally the efficacy and liability roles. Thus, it seems that the social capital of family entrepreneurs is limited to their strong bonding social capi- tal and, perhaps, to their strong national social capital. However, when they start to internationalize their operations, they have to find new networks to gain bridging so- cial capital which enable foreign operations. It seems that a limited amount of interna- tional ties drives family SMEs to search for relevant contacts from international exhi- bitions and trade shows.

Social capital in relation to the foreign market entry and post-entry operation of family SMEs

by Arto Ojala

Scholars in the discipline of international entrepreneurship have mainly studied rapidly internationalizing firms.... more Scholars in the discipline of international entrepreneurship have mainly studied rapidly internationalizing firms. However, the majority of entrepreneurial firms are family-owned businesses (85% of all firms in the EU and the USA). Research on family business has focused on the importance of bonding social capital whereas, despite its importance, bridging social capital has not so far attracted much attention. It has been argued that bridging social capital plays an important role in firms’ internationalization processes. The purpose of this article is to examine the role of bridging social capital in the initial entry and post-entry operations of eight family SMEs with regard to the French market. We found that in foreign market entry social capital generally had a serendipity role, based on weak and intermediary relationships. In the post-entry situation the role of strong and formal ties emerged strongly, and social capital most commonly took on efficacy or liability roles. Thus, it seems that the social capital of family entrepreneurs is limited to their strong bonding social capital, and perhaps to their strong national social capital. However, when such firms start to internationalize, they have to find new networks to gain the bridging social capital that will enable foreign operations. It seems that having a limited number of international ties drives family SMEs to search for relevant contacts at international trade exhibitions and trade fairs.

Protected by the family? How closely held family firms protect minority shareholders

by Pablo MARTIN de HOLAN

IMPLICATIONS OF INTRA-FAMILY AND EXTERNAL OWNERSHIP TRANSFER

by Karl Wennberg

This paper contrasts the performance consequences of intra-family ownership transfers vs. external ownership... more This paper contrasts the performance consequences of intra-family ownership transfers vs. external ownership transfers. Investigating a unique sample of all privately held family firms in Sweden that went through ownership transfers during a ten year period, we find family firms transferred to external owners outperforming those transferred within the family, but that survival is higher among intra-family transfers. We attribute these performance differences to the long-term orientation of family firms passed on to the next generation and to the entrepreneurial willingness of acquirers to bear uncertainty. Based on our identification of distinct ownership transition routes and of theoretical mechanisms that explain future performance differences of these routes, we outline implications for family business and entrepreneurship research.

Toward a Theory of Stakeholder Salience in Family Firms

by Laura J. Spence

Mitchell, R., Agle, B., Chrisman, J. and Spence, L.J. (2011) Toward a Theory of Stakeholder Salience in Family Firms, Business Ethics Quarterly 21(2): 235-255

The notion of stakeholder salience based on attributes (e.g., power, legitimacy, urgency) is applied in the family... more The notion of stakeholder salience based on attributes (e.g., power, legitimacy, urgency) is applied in the family business setting. We argue that where principal institutions intersect (i.e., family and business); managerial perceptions of stakeholder salience will be different and more complex than where institutions are based on a single dominant
logic. We propose that (1) whereas utilitarian power is more likely in the general business case, normative power is more typical in family business stakeholder salience; (2) whereas
in a general business context legitimacy is socially constructed; for family stakeholders, legitimacy is based on heredity; and (3) whereas temporality and criticality are somewhat independent in general-business urgency, they are linked in the family business case because
of family ties and family-centered non-economic goals. We apply this theoretical framework to position and integrate the contributions to this special section of Business Ethics Quarterly on "Stakeholder Theory, Ethics, Corporate Social Responsibility, and Family Enterprise."

A Family Affair: a nineteenth century tale of one family and its business.

by Lynda Holland

Family and Community History, vol.14, no.1 (2011), pp.24-40.

Industrialisation brought about paradigm changes to the British economy and triggered the growth of family capitalism.... more Industrialisation brought about paradigm changes to the British economy and triggered the growth of family capitalism. Research over the years has viewed family businesses from a number of different viewpoints, seeing them both as a negative and a positive contributor to the nineteenth century economy. This article explores family documents that relate to one specific family whose business was passed down through four generations in order to see what they can tell us about this particular family’s priorities and aspirations and how these may have influenced their business goals.

Sonification of Emotion State In Family-Run Businesses

by Lars Graugaard

Funded by Danish Center for Design Research

I report on an application that makes use of auditory display of data that represents an individual’s appreciation of... more I report on an application that makes use of auditory display of data that represents an individual’s appreciation of his situation in the specific collaborative context of a family owned company. The auditory display is an emotion mapping of the company-family structure, and thereby transmits the emotional impact of possible future scenarios if no intervention takes place. The structural parameters ‘family complexity’, ‘company complexity’, ‘company structure’ and ‘structural risk’ are mapped to structural aspects of the auditory display that contain sufficient similarity to be readily appreciable with minimal preparation. The result is that the implicit emotional state of the analysis subject – a member of the family – is represented in the audio stream. This facilitates other family members’ empathy, because it circumvents subjective semantic interpretations and potential rejection of a purely verbal interpretation of the data. The technique is general and may be applied to other collaborative situations where a self-learning approach is preferred.