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This chapter provides an introduction to the world of family companies and family constitutions from a legal perspective. It first studies the legal types of business organizations that family firms have chosen across time and jurisdictions. It then illustrates how early predecessors of family constitutions evolved in the late Middle Ages and what modern family constitutions look like in different countries today. Further considerations are devoted to the governance framework of family firms. The chapter concludes by exploring the potential legal effects of family constitutions under German company and contract law.

To co-create value through dynamic collaborations, enterprises and their suppliers need to orchestrate the integration of complementary resources when providing business services. As such enterprises' strategic decision to apply a plural sourcing strategy to establish dynamic collaborations with their suppliers implies that both in-house and outsourced business services should be bundled into a business services portfolio. However, the antecedents that affect a business services portfolio have rarely conceptually been identified.

Drawing on resource orchestration theory, the authors theoretically developed and empirically validated a business services portfolio conceptual model. The model aims at explaining the critical antecedents to a business services portfolio based on a unique data set, comprising 121 international enterprises with variation in the degree of outsourcing, size, geographies and maturity. Partial least squares structural equation modelling was used to examine the relationships among the antecedents and a business services portfolio.

The findings show that the antecedent, i.e. plural sourcing strategy, modularised business processes and customer orientation have a direct and significant effect on the enterprises' business services portfolio orchestration. The results of the mediation test indicate that modularised business processes fully mediate the relationships between three independent variables with the orchestration of business services portfolio.

This study is the first to analyse the impact of plural sourcing strategy, modularised business processes and customer orientation on the business services portfolio orchestration from a plural sourcing context. Additionally, it examines the mediating role of modularised business processes in the relationship between the antecedents and business services portfolio orchestration.

This study aims to investigate a systematic approach to the production and use of additively manufactured injection mould inserts in product development (PD) processes. For this purpose, an evaluation of the additive tooling design method (ATDM) is performed.

The evaluation of the ATDM is conducted within student workshops, where students develop products and validate them using AT-prototypes. The evaluation process includes the analysis of work results as well as the use of questionnaires and participant observation.

This study shows that the ATDM can be successfully used to assist in producing and using AT mould inserts to produce valid AT prototypes. As a reference for the implementation of AT in industrial PD, extracts from the work of the student project groups and suitable process parameters for prototype production are presented.

This paper presents the application and evaluation of a method to support AT in PD that has not yet been scientifically evaluated.

Drawing on embodied cognition theory, this study examined the impact of midair, gesture-based somatosensory augmented reality (AR) experience on consumer delight and stickiness intention. The mediating effects of three psychological states for body schema (i.e. natural symbol sets, vivid memory and human touch) on the relationships between somatosensory AR and consumer delight/stickiness intention are determined. By filling gaps in the research, we hope to provide guidance on how to drive delightful somatosensory AR marketing.

Two experiments were conducted (Study 1 and Study 2) to test the research model and hypotheses. These experiments compared the effects of the “presence” (midair, gesture-based) and “absence” (mouse-based traditional website) conditions in somatosensory AR on consumer body schema and the creation of a delightful virtual shopping experience (i.e. consumer delight and stickiness intention).

The consumer delight and stickiness intention created in the presence condition was much higher than those in the absence condition. Consumers appeared to prefer engaging in a midair gesture-based somatosensory AR experience and exploring an augmented metaverse reality to interacting with a mouse-based traditional website. We also found that giving online consumers more somatosensory activities and kinesthetic experiences effectively inspired three psychological states of body schema in online consumers.

The results contribute to the AR experience and somatosensory marketing literature by revealing the role of natural symbol sets, vivid memory and the sense of human touch. This research breaks through the long-developed research paradigm on consumer delight, which has been limited to traditional entities and web contexts. We also extend embodied cognition theory to the study of somatosensory AR marketing.

This study aims to clarify why and when digital business strategy (DBS) helps manufacturing firms generate value co-creation (VC) with different stakeholders in the digital context of China. This study considers external network capability (ENC) and internal network capability (INC) as mediation mechanism, and strategic flexibility (SF) as theoretical boundary.

Questionnaires were used and filled out by executives from manufacturing firms. The manufacturing samples from 289 different fields in China were used for hypothesis testing, and the structural equation model was the main analytical method.

This study found that DBS of manufacturing enterprises has a positive impact on VC. Specifically, DBS affects firm-partner VC and firm-consumer VC through the indirect positive effect of ENC, and affects firm-employee VC through INV. The positive effects of ENC on firm-partner VC and firm-consumer VC, as well as INC on firm-employee VC, are weak at high (or low) SF, and are strongest at moderate SF.

This study provides manufacturing firms with practical insights into why and when they can implement DBS to generate VC, with a particular emphasis on the weighted role of SF.

This study spotlights gaps in the literature on why and when manufacturing firms can reap the benefits of DBS, focusing on one important business outcome – VC. The authors clarify the mediating role of differences in ENC and INC, as well as the inverted U-shaped moderating role of SF.

Much prior work involving director incentives and corporate behaviour has been focussing on their absolute dollar value or the intrinsic value and generated mixed findings. Comparison theories, however, suggest that the relative value of an incentive may be the main drive for individual performance. This study attempts to investigate the role of director relative pay in promoting the board’s intervention with unrelated diversification decisions.

The analysis uses data from firms operating in more than one segment during the period from 1999 to 2019. Data were obtained from WRDS databases. Ordinary least squares (OLS) regression analysis and the two-stage system generalized method of moments (GMM) were run to test the hypotheses. To test the robustness of the findings, alternative proxies for the key independent variables were used in separate analyses.

The results support the hypothesis that unrelated diversification negatively impact firm performance, while higher director relative pay will help reduce unrelated business diversification. The absolute director pay, however, has no significant impact on corporate strategic choices. The results also highlight the moderating effect of director overcompensation. Director overcompensation will cancel out the impact of relative director pay on unrelated diversification.

This study takes a fresh theoretical perspective by framing the investigation using the dimensional comparison theory to address the single untended comparison framework in the director pay structure – the intra-individual framework. It is the first to investigate the role of director relative pay in corporate strategic choices. The findings support the contention that the relative value of the incentive is an important indicator of the effectiveness of the pay.

Brand crowdfunding, launched through brands’ social media platforms, can provide a myriad of crowdfunding and branding benefits, such as strengthening brands’ social networks, validating product launches, generating mass exposure and enabling cocreation. Gamification positions brand crowdfunding as an exciting and joyful activity that more deeply engages prosumers. Anchored on resource-based theory, theory of planned behavior and service-dominant logic, this paper aims to develop a brand crowdfunding framework for established brands with insights from two emerging markets: China and India.

A deductive cross-sectional design is used to gather data from an established brand’s (e.g. Xiaomi) social media followers in China (n = 826) and India (n = 358), which is analyzed through PLSc-SEM.

The results reveal that social media brand engagement is an antecedent of brand crowdfunding participation, brand crowdfunding intention is a predictor of brand loyalty and gamification is a significant moderator in technology-oriented societies.

The paper develops a brand crowdfunding framework that provides insights on how established brands can leverage crowdfunding to enhance their new product development process. The results contribute to the social media brand engagement, crowdfunding, gamification and emerging markets literature.