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Drawing on the principal-principal conflict and identity literatures, the purpose of this paper is to investigate the Agency Problem Type II-bis in the context of family business. Specifically, the authors hypothesize that the size of the family owner group is related to firm growth and that this relationship is moderated by the extent to which the family identifies with the firm.

The hypotheses are tested on a sample of 265 medium and large German family firms (FFs) via moderated hierarchical regression analysis.

The main findings suggest that business family identity moderates the inverted U-shaped relationship between the size of the family owner group and firm growth in such a way that FFs with medium-sized family owner groups and high levels of business family identity reach higher firm growth.

In the context of FFs fully owned by one family, family owners might have different strategic preferences, goals, and identities, thus potentially making them subject to the conflict that could arise among the different family owners in relation to growth expectations. Recognizing this problem could help family owners find potential solutions to ensure the well-being of both the family and the business.

The combination of family ownership structure and family ownership dynamics affects firm growth. Challenging the homogeneity of the family owner group, the authors highlight the role of Agency Problem Type II-bis in hindering growth of FFs. A finer-grained view of principal-principal conflicts in FFs is thus discussed.

The aim of this study is to advance knowledge on family firms' entry mode choices by examining the linkage between target market context, especially in the emerging economies of China and India, and the dominant family firm logic of keeping ownership and control in the family.

We use an exploratory multiple case study analysis approach based on nine German family firms' internationalization endeavors. We use both primary and secondary data.

Traditionally, extant research concludes that family principals prefer foreign direct investments (FDIs) in order to exert maximum control when entering international markets. In contrast, our study finds a clear preference for international joint ventures (IJVs) as an initial entry mode of choice into unfamiliar markets. Our findings propose this decision to be rooted in cultural unfamiliarity and the complexity of the target markets' legal environment. The effect of these two factors is amplified by prior IJVs experiences.

This article offers several original insights. First, we identify the triggers of the paradoxical IJVs’ entry mode choice among family firms and thus explain the motivation for breaking with the dominant family firm logic of maximizing control. Second, we account for factors in China's and India's particular emerging market environments. In the light of family control, the unfamiliarity with these markets triggers the decision to compensate for the high level of uncertainty by engaging in an IJV partnership. Third, our study shows that family firms are indeed willing to share control if it serves the long-term survival of the firm.

The purpose of this paper is to examine how information-processing mechanisms between nominating committees (NCs), incumbent executives, board chairs, and shareholders affect the comprehensiveness of executive succession processes.

The authors employ an explanatory multiple-case study that comprises eight CEO and CFO succession cases in large German publicly traded firms.

The findings reveal that comprehensiveness is determined by four key information-processing mechanisms: the effectiveness of NC’s information sharing, absorbing disagreement, and integrating heterogeneous opinions; board chair leadership (i.e. an apprentice board leadership structure in association with the board chair’s openness to ideas); the breadth and depth of information sharing between executives and NCs; and the extent and timing to which major shareholders influence succession processes.

The authors summarize the findings in a conceptual framework and develop a set of propositions to guide future research on the topic. Such studies may want to test the suggestions in a quantitative way, preferably in a multinational context.

The authors’ emerging conceptual framework contributes a set of information-processing variables by which NCs engage in comprehensive executive successions with incumbent executives, board chairs, and major shareholders and offers a multiechelon approach to study executive successions.

The purpose of this paper is to examine the link between board of directors’ composition (independent directors’ ratio, board size, CEO-duality) and financial transparency and disclosure (T&D).

The paper analyzes board composition and financial T&D of Italian listed companies using multiple linear regression analysis.

The results of this paper show a significant link between board composition and the level of financial T&D. In particular, the authors found a positive and significant relationship between the independent directors’ ratio and the level of financial T&D and a negative relationship between board size and the level of financial T&D.

While this paper focuses on a sample of 100 Italian listed companies, the authors acknowledge the importance of extending the results to other national context and to other type of firms (e.g. non-listed firms or SMEs). Moreover, while this paper concerns the amount of information disclosed by firms, it does not look at the quality or accuracy of disclosure.

This paper reveals the importance of evaluating the effectiveness of corporate governance mechanisms (such as board composition) in enhancing the level of financial T&D. Indeed, the authors provide some indications to firms to improve their internal governance mechanisms (e.g. the importance of high proportion of independent directors and of small- and medium-sized boards of directors).

This paper provides interesting insights to firms which are under pressure to improve the level of information to stakeholders. Moreover, has the level of information that is not legally required vary among companies and countries, the authors shed light on a context characterized by high level of ownership concentration, where firms can experience different types of conflict of interests.

Challenging the static view of family business governance, we propose a model of owner–manager relationships derived from the configurational analysis of managerial behavior and change in governance structure.

Stemming from social exchange theory and building on the 4C model proposed by Miller and Le Breton-Miller (2005), we consider the evolving owner–manager relationship in four main configurations. On the one hand, we account for family businesses shifting from a generalized to a restricted exchange system, and vice versa, according to whether a family manager misbehaves in a stewardship-oriented governance structure or a nonfamily manager succeeds in building a trusting relationship in an agency-oriented governance structure. On the other hand, we consider that family firms will strengthen a generalized exchange system, rather than a restricted one, according to whether a family manager contributes to the stewardship-oriented culture in the business or a nonfamily manager proves to be driven by extrinsic rewards. Four scenarios are analyzed in terms of the managerial behavior and governance structure that characterize the phases of the relationship between owners and managers.

Various factors trigger managerial behavior, making the firm deviate from or further build on what is assumed by stewardship and agency theories (i.e. proorganizational versus opportunistic behavior, respectively), which determine the governance structure over time. Workplace deviance, asymmetric altruism and patriarchy on the one hand, and proorganizational behavior, relationship building and long-term commitment on the other, are found to determine how the manager behaves and thus characterize the owner's reactions in terms of governance mechanisms. This enables us to present a dynamic view of governance structures, which adapt to the actual attitudes and behaviors of employed managers.

As time is a relevant dimension affecting individual behavior and triggering change in an organization, one must consider family business governance as being dynamic in nature. Moreover, it is not family membership that determines the most appropriate governance structure but the owner–manager relationship that evolves over time, thus contributing to the 4C model.

The proposed model integrates social exchange theory and the 4C model to predict changes in governance structure, as summarized in the final framework we propose.

The purpose of this paper is to investigate what types of open innovation search strategies are associated with internal innovation activities in family and non-family SMEs within natural resource-based clusters.

This study is based on an empirical analysis of a sample of 245 Chilean firms.

Results suggest that while family and non-family SMEs do not significantly differ in terms of internal innovation activities, important differences exist in terms of open innovation search strategies. In particular, family SMEs search for new ideas and knowledge within their closest network of relationships (e.g. customers, suppliers and competitors), whereas non-family SMEs mainly focus on broader network relationships (e.g. universities, public institutions and fair trade organizations).

This study shows that within a natural resource cluster, the types of firm do matter. In fact, family and non-family SMEs use different open innovation search strategies to innovate; hence, this research may help and assist policy makers in tailoring innovation policies aimed at expanding the potential benefits of clusters for regional growth and development.

This research addresses the call to further investigate the link between family SMEs and innovation in developing countries, given that SMEs may also act as a lively player for regional development.

El objetivo de este artículo es investigar las estrategias de búsqueda de innovación abierta de las pequeñas y medianas empresas familiares y no familiares en un clúster basado en los recursos naturales.

Este estudio está basado en un análisis empírico con una muestra de 245 empresas Chilenas.

Los resultados muestran que no hay diferencias significativas en las actividades internas de innovación entre las pequeñas y medianas empresas familiares y no-familiares de la muestra. Sin embargo, se han encontrado diferencias en las estrategias de búsqueda de innovación abierta que utilizan de las empresas. Las empresas familiares buscan nuevas ideas y conocimiento para innovar entre sus contactos más cercanos (por ejemplo: clientes, proveedores y competidores). Las empresas no-familiares se enfocan en contactos más amplios (por ejemplo: tales como universidades, instituciones públicas y ferias internacionales).

Este estudio muestra que distinguir entre empresas familiares y no familiares dentro de los clúster basados en los recursos naturales es importante. Las pequeñas y medianas empresas familiares y no familiares usan diferentes estrategias de búsqueda de innovación abierta. Por lo tanto, nuestros resultados pueden ayudar al diseño de políticas públicas de innovación diferenciando empresas familiares y no familiares con el objetivo de potenciar los beneficios de los clúster para el crecimiento y desarrollo regional.

Este artículo intenta avanzar en la investigación relacionando innovación y pequeñas y medianas empresas familiares en países en desarrollo.

Although prior research has indicated that ownership characteristics of a firm can influence how organizations are perceived, there is a gap in our understanding of the general associations that individuals have with the term “family firm.” Some argue that promoting a firm as family-owned can result in positive evaluations by stakeholders; others argue that it can result in negative perceptions about a firm. However, very few empirical projects have directly explored the associations that external stakeholders have with the term “family firm.” The purpose of this paper is to explore the associations that individuals in Switzerland have with the term “family firm.”

A two-stage study is conducted in this paper. In Stage 1 (n=138), the authors generated the list of associations that individuals had with the term “family firm.” The authors then categorized these associations into seven categories. In Stage 2 (n=321), the authors explored whether these associations were unique to family firms by asking participants in the “family firm” or the “publicly owned company” condition to assess which descriptors better represented the condition the characteristics of organizations in their conditions.

The findings indicate that there are seven general descriptor categories associated with the term “family firm.” These are: tradition and continuity, small and medium companies, trustworthiness, strong culture, corporate citizenship, professionalism, and career opportunities. The findings also indicate that individuals have different associations with the terms “family firm” and “publicly owned company.” While the term “family firm” is primarily associated with traditional, small, and trustworthy companies, the term “publicly owned company” is often associated with companies that are profit-oriented, large, and thought to offer superior career opportunities. Theoretical and practical implications of these results are discussed.

This study continues to build our understanding of branding in family firms by helping us connect the term “family firm” with the direct associations in the mind of the audience. This is important because it can help practitioners and researchers better understand under which conditions promoting family firms will have a positive influence on consumers.

In this chapter, the author describes the education of Roma, Sinti and Caminanti (RSC) children in Italy focussing on possible pathways to school inclusion. According to available national reports, there are about 140,000 RSC people living in Italy, who the author calls a ‘hidden minority’. The author provides detailed information on their ethnic origins and traditions, describes their legal and social situation, culture and language. Then the author outlines the attainment of RSC in the Italian education system and the most important policies to support their successful education. In conclusion, the author presents selected programmes to promote social inclusion and education of RSC children.

The emerging concept of entrepreneurial ecosystems has captured the attention of scholars, practitioners and policymakers. Although studies on entrepreneurial ecosystems continue to grow, their contributions are still disintegrated. Thus, the purpose of this paper is to present a systematic review of extant literature on entrepreneurial ecosystems and to develop a research agenda.

The study deployed a systematic literature review of 51 articles obtained from three comprehensive databases of Web of Science, Google Scholar and Scopus. The analysis includes two phases. First, a descriptive account of research on entrepreneurial ecosystems and second, a content analysis based on a thematic categorization of entrepreneurial ecosystems research.

The findings show that the concept of entrepreneurial ecosystems is both under-theorized and it has been recently dominated by conceptual studies. The focus of empirical research is on technology-based industries in Western economies using cases studies as methodological approach.

This review contributes to the body of knowledge on entrepreneurial ecosystems research by providing a systematic review following a thematic grouping of extant research into antecedents, outputs and outcomes of entrepreneurial ecosystems.

It reveals existing theoretical and empirical gaps in research as well as offering avenues of future research on entrepreneurial ecosystems.

The failure to innovate has been recognized as one of the prime causes of business failure. In addition to this, the purpose of this paper is to explore whether it is the failure to act or inertia that can also explain the inability of family businesses to move forward.

This research documented the experiences of five family businesses in the Philippines that were unable to sustain their business operations. Only five families were identified since it was difficult to trace the business owners of businesses that failed, and once identified, not all were willing to discuss the reason for their business failure.

The cases showed that business decline actually results from the failure of family members to address the challenges brought about the change in the different life cycle dimensions. In hindsight, arresting a downward trend necessitates varied strategic approaches. While some family members may felt incapable of introducing innovation in their business, the failure to act, by itself, was a guarantee of business failure.

The research was limited to five family businesses in the Philippines. It is possible that there may be many other reasons for family business failure based on the experiences of other families. Unfortunately, many business families in the Philippines are tight-lipped about failure, even if there are lessons to be learned.

This paper brings attention to the need of family business owners to be more proactive in meeting the changing needs of their family business. Formula that worked before may not be appropriate at a different time.

Research has shown that there are many reasons for family business failure. This paper shows the importance of transcending the feeling of inertia so that family members can be more proactive in meeting the challenges that they are bound to face as their families, their products, their businesses, and the industries they are in, move from one stage of the life cycle to another.