Search results
1 – 10 of 53Ann Sophie K. Loehde, Andrea Calabrò, Mariateresa Torchia and Sascha Kraus
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…
Abstract
Purpose
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.
Design/methodology/approach
We use an exploratory multiple case study analysis approach based on nine German family firms' internationalization endeavors. We use both primary and secondary data.
Findings
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.
Originality/value
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.
Details
Keywords
Ann Sophie K. Löhde, Giovanna Campopiano and Andrea Calabrò
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…
Abstract
Purpose
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.
Design/methodology/approach
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.
Findings
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.
Research limitations/implications
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.
Originality/value
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.
Details
Keywords
Qing (Sophie) Wang, Hamish D. Anderson and Jing Chi
The purpose of this paper is to investigate how venture capital (VC) backing influences the board size and independence and how VC backing and board structure impact firm…
Abstract
Purpose
The purpose of this paper is to investigate how venture capital (VC) backing influences the board size and independence and how VC backing and board structure impact firm performance in China.
Design/methodology/approach
Using hand-collected data from 924 initial public offering (IPO) prospectuses covering the period from January 2004 to December 2012, the authors investigate the impact of VC backing on board size, board independence and firm market performance through regression analysis. A two-stage approach is also used to address the endogeneity issue.
Findings
The authors find robust evidence that VC-backed IPOs have more independent boards, after controlling for CEO and firm characteristics, and the potential endogeneity concerns. Furthermore, firms backed by VCs with management political ties (PTs) have more independent directors with industry relevant expertise than other firms. While no significant relationship is found between board independence and firm performance, the authors present some evidence that IPOs which have a larger percentage of independent directors with industry relevant expertise exhibit higher long-term stock returns, and VCs with management PTs also improve IPO long-run stock performance.
Research limitations/implications
Although VC is new in China and the Chinese capital market has relative poor corporate governance and weak minority shareholder protection, the authors find support in this paper that VC backing is valuable to IPO firms in China not only through providing funding but also by providing political ties and industry experience. However, Chinese regulatory and institutional settings have strong impact on test results and they change rapidly, so the results may not apply to other period in Chinese markets.
Originality/value
This paper sheds lights on the influences of VC backing on corporate governance and firm performance in a transitional and emerging economy. It discovers the value of VC investors in a transitional economy as of providing political ties and industry experience. The new definition of independent directors suggested by Suchard (2009) is first used by our paper in the Chinese context.
Details
Keywords
Sonia Akrimi, Sophie Raynor, Richard Johnson and Ann Wylie
Many barriers to health and emotional well‐being for children are prevalent within inner‐city communities, and often result in negative consequences for education. Health…
Abstract
Many barriers to health and emotional well‐being for children are prevalent within inner‐city communities, and often result in negative consequences for education. Health promotion strategies have previously cited mentoring schemes as interventions through which targeted pastoral support can be effectively provided to children. This paper draws on detailed focus group interviews in order to evaluate SHINE ‐ Make Every Child Count, a student‐led charity operating five mentoring programmes across the London boroughs of Southwark and Lambeth. Following content analysis, this paper identifies six themes associated with mentor support: rapport; emotional well‐being and development; social behaviour; enabling; emerging ambition; and attitudinal development. Results show participant children have gained considerable enjoyment from mentor support. Successful friendships are built and emotional well‐being supported, with children actively including mentors as part of their support network. Children recognise the impact of a mentor on relationships with peers, behaviour within the classroom and social responsibility, in addition to direct educational support. Children also show an increased interest in learning, and evidence of considering ‐ often for the first time ‐ their own future aspirations. Findings demonstrate the impact of the mentoring programmes, as perceived by participant children. Evaluation can be used to inform future development of the programmes, as well as expansion to further schools, with the organisation working towards achieving long‐term sustainability.
Details
Keywords
Anecdotal accounts of suicide among temporary low-wage migrant workers in the UAE are numerous, but unofficial and qualitative accounts remain unexplored. This study aims to…
Abstract
Purpose
Anecdotal accounts of suicide among temporary low-wage migrant workers in the UAE are numerous, but unofficial and qualitative accounts remain unexplored. This study aims to examine how the socio-environmental context can lead some low-wage migrants, irrespective of their nationality or culture, to contemplate suicide for the first time after arriving in the host country.
Design/methodology/approach
The findings draw from ten months of qualitative fieldwork (2015–2016) and in-depth interviews conducted with 44 temporary migrant workers from sub-Saharan Africa and South Asia, earning in the lowest wage bracket in Dubai. The study used a non-probabilistic, purposive sampling approach to select participants. Three criteria drove eligibility: participants had to reside in the UAE, be non-national and earn Dh1500 (US$408) or less a month. Otherwise, diversity was sought in regard to nationality, occupation and employer.
Findings
Eight (18%) of the 44 study participants interviewed admitted to engaging in suicidal thoughts for the first time after arriving in the UAE. The findings suggest that for low-wage migrants working in certain socio-environmental contexts, the religious, gendered or other cultural or group characteristics or patterns that may be predictors of suicide in migrants’ country of origin may become secondary or possibly even irrelevant when one is forced to survive under conditions that by most objective standards would be deemed not only oppressive but extremely exploitative and abusive.
Originality/value
This study contributes to understandings of how the emotional and psychological well-being of temporary foreign low-wage migrant workers can be impacted by the socio-environmental context of the host country. It is a first step in understanding the intimate thoughts of low-wage migrant workers on the topic of suicidality, furthering our understanding of suicidal ideation and the factors that can contribute to it.
Details
Keywords
Mitja Kovac and Ann-Sophie Vandenberghe
This chapter provides comments and suggestions to the lawmaker, and especially to economic policy-makers in the field of the optimal regulatory framework and implementation of…
Abstract
This chapter provides comments and suggestions to the lawmaker, and especially to economic policy-makers in the field of the optimal regulatory framework and implementation of sustainable practices. The main findings are as follows: (1) degradation of the rule of law in several European Union (EU) Member States and constant political undermining of the legal institutions represent the main threat for the implementation of sustainable practices and development; (2) the golden regulatory rule of thumb provides that regulatory intervention is suggested merely in cases of market failures under the condition that the costs of such intervention do not exceed the benefits; (3) over-regulation might impede implementation of sustainable practices, distort the operation of the market, undermine productivity, diminish growth and social wealth and consequently also sustainability; (4) efficiency and wealth maximization should be the lawmaker’s leading normative principle in designing the legal framework that will enable effective implementation of sustainable practices; (5) the efficient level of harmonization or subsidiarity of decision-making in the EU urges for a rigorous investigation of costs and benefits of the EU top-down harmonization policies which should lead to a better, efficient vertical allocation of sustainability agenda between EU and the Member States; and (6) The Reflection Paper on Sustainable Development Goals – “Towards a Sustainable Europe in 2030” – represents an effective institutional framework in pursue of the overall sustainability targets.
Details
Keywords
Laszlo Hetey, Eddy Neefs, Ian Thomas, Joe Zender, Ann-Carine Vandaele, Sophie Berkenbosch, Bojan Ristic, Sabrina Bonnewijn, Sofie Delanoye, Mark Leese, Jon Mason and Manish Patel
This paper aims to describe the development of a knowledge management system (KMS) for the Nadir and Occultation for Mars Discovery (NOMAD) instrument on board the ESA/Roscosmos…
Abstract
Purpose
This paper aims to describe the development of a knowledge management system (KMS) for the Nadir and Occultation for Mars Discovery (NOMAD) instrument on board the ESA/Roscosmos 2016 ExoMars Trace Gas Orbiter (TGO) spacecraft. The KMS collects knowledge acquired during the engineering process that involved over 30 project partners. In addition to the documentation and technical data (explicit knowledge), a dedicated effort was made to collect the gained experience (tacit knowledge) that is crucial for the operational phase of the TGO mission and also for future projects. The system is now in service and provides valuable information for the scientists and engineers working with NOMAD.
Design/methodology/approach
The NOMAD KMS was built around six areas: official documentation, technical specifications and test results, lessons learned, management data (proposals, deliverables, progress reports and minutes of meetings), picture files and movie files. Today, the KMS contains 110 GB of data spread over 11,000 documents and more than 13,000 media files. A computer-aided design (CAD) library contains a model of the full instrument as well as exported sub-parts in different formats. A context search engine for both documents and media files was implemented.
Findings
The conceived KMS design is basic, flexible and very robust. It can be adapted to future projects of a similar size.
Practical implications
The paper provides practical guidelines on how to retain the knowledge from a larger aerospace project. The KMS tool presented here works offline, requires no maintenance and conforms to data protection standards.
Originality/value
This paper shows how knowledge management requirements for space missions can be fulfilled. The paper demonstrates how to transform the large collection of project data into a useful tool and how to address usability aspects.
Details
Keywords
Life studies are a rich source for further research on the role of the Afro‐American woman in society. They are especially useful to gain a better understanding of the…
Abstract
Life studies are a rich source for further research on the role of the Afro‐American woman in society. They are especially useful to gain a better understanding of the Afro‐American experience and to show the joys, sorrows, needs, and ideals of the Afro‐American woman as she struggles from day to day.
Nick Deschacht, Ann-Sophie De Pauw and Stijn Baert
The purpose of this paper is to test hypotheses regarding the importance of employee preferences in explaining sticky floors, the pattern that women are, compared to men, less…
Abstract
Purpose
The purpose of this paper is to test hypotheses regarding the importance of employee preferences in explaining sticky floors, the pattern that women are, compared to men, less likely to start to climb the job ladder.
Design/methodology/approach
The authors use original data obtained using a survey and a vignette study in which participants had to score the likeliness with which they would accept job offers with different promotion characteristics.
Findings
The main findings are that young female professionals have a less pronounced preference for more demanding and less routinary jobs and that this effect is mediated by the greater risk aversion and anticipated gender discrimination among women. No gender differences were found in the relative likeliness to apply for jobs that involve a promotion in terms of job authority.
Research limitations/implications
The vignette method assumes that artificial settings with low stakes do not bias results. Another limitation follows from the focus on inter-organizational promotions among young professionals, which raises the question to what extent the results can be generalized to broader settings.
Originality/value
This paper contributes to the literature on gender differences in careers by measuring the impact of employee preferences on gender differences in career decisions.
Details