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Drawing on upper echelons theory (UET) and arguments from behavioral theory of the firm, this paper aims to contribute to the debate on family involvement-performance relationship, by considering the mediating role of the propensity towards merger and acquisition (M&A) and the moderating role of performance feedback.

The hypotheses are tested by applying a moderated mediation analysis on a sample of 111 German family firms. First, a mediation model is run to verify the mediation role of the propensity towards M&A; then, to evaluate the magnitude of the mediation at different values of the moderator (performance feedback), conditional indirect effects are tested using normal-theory standard errors and bootstrapping procedure.

The main findings suggest that a higher percentage of family members sitting in TMT is related to better performance and that this effect is mediated by the propensity towards M&A. Furthermore, findings also show that a higher percentage of family managers is positively related to the propensity towards M&A and, in turn, exerts a positive effect of firm performance, especially when performance feedback is negative.

The paper suggests to family firms' managers that when performance feedback is negative, a riskier behavior, such as M&A, could represent a way to improve firm performance.

The paper provides a full application of UET to the context of family firms, offers the point of view of TMT, instead of that of ownership, to study the propensity towards M&A in family firms and goes beyond the rational view to explain family managers' risk-taking behaviors.

The study, by focusing on a context dominated by firms with a concentrated ownership, in which type-II agency problems (principal-principal conflicts) may occur, aims to depict which board configurations may be effective in protecting minority shareholders by mitigating the risk of controlling shareholders' expropriation via cash holdings.

The research adopts a configurational approach and empirically conducts a fuzzy set/qualitative comparative analysis on a sample of 268 Italian listed companies.

The analysis depicts three combinations of board configurations and ownership structures that can be considered effective, namely Active Independent Control, Female Active Control and Double Internal Control.

The study revisits the topic of the risk of expropriation via cash holdings in a type-II agency problem framework and delineates the meaning of board effectiveness in a mature context ruled by family firms, like Italy. Furthermore, by drawing on a configurational approach, it overcomes the causality relationship between each board characteristic and cash holdings policies and reasons from a “bundle” perspective.

This chapter explores the impact of Entrepreneurial Orientation (EO), Sustainable Orientation (SO), and Human Resource Orientation (HRO) – the key dimensions of the strategic posture known as Humane Entrepreneurship – on the success of 142 equity crowdfunding campaigns hosted on the US-based platform WeFunder. Utilizing text analysis in conjunction with fuzzy set qualitative comparative analysis, a configurational research method, the study identifies diverse combinations of these dimensions that lead to successful funding outcomes. The analysis, encompassing both minimum and maximum funding targets and supplemented by robustness tests, indicates that successful equity crowdfunding campaigns are characterized by pitches displaying high levels of autonomy, innovativeness, proactiveness, and risk-taking, with a lesser focus on competitive aggressiveness. It is also observed that campaigns emphasizing HRO consistently achieve their fundraising goals, independent of the funding target set. Notably, a startup’s SO does not seem to significantly influence campaign success within the equity crowdfunding context.

This work seeks to investigate the performance of wine businesses operating in the Campania region in the South of Italy and aims to verify the family power effect on company performance.

The study was conducted on a sample of 114 firms that operate in the quality wines industry. Using a panel data regression model with time fixed effects, the authors analyzed the firm performance during the interval 2007‐2010 to detect the effect of family power on the firm performance. Family power was measured through the degree of family involvement in ownership and on the board. Performance was measured in terms of revenue and profitability.

The research highlights a U‐shaped relationship between family power and revenue and an inverted U‐shaped relationship between family power and profitability.

The findings show an empirical framework which could stimulate the academic debate on family effect in order to draw implications for marketing management and policy makers in the wine business and to provide suggestions for further research.

Ownership structure plays a significant role in determining board demographic diversity. However, it is still unclear how different ownership configurations impact the structures of firm's boards and how board diversity influences firm performance. This study aims to investigate the relationship between family ownership and board diversity. Therefore, in this study, the authors argue that family firms have a lower level of board demographic diversity (in terms of age, gender and nationality) than non-family firms and that board diversity moderates the relationship between ownership and firm performance.

To test the authors’ hypotheses, we draw data from a sample of 341 German family and non-family firms for a period of five years.

The results show that family firms are less diverse in terms of age, gender and nationality diversity than non-family firms.

This study contributes to the general understanding of family firms and in particular the role ownership plays in shaping board demographic diversity.

The purpose of this study is to examine the intricate dynamics within the hospitality service sector, which predominantly employs low-wage and low-skilled workers. These employees frequently encounter challenges related to breaches in their psychological contracts. Despite their critical role in customer service, their experiences are often overlooked in organizational inclusion research. We investigate the relationship between employees’ perceptions of organizational inclusion and their assessments of organizational ethical virtues (OEVs), considering the potential moderating effect of psychological contract breach. Furthermore, it explores how these factors influence customer- and organizationdirected organizational citizenship behaviors (OCBs).

Our research design incorporates a two-stage moderated-mediation model to test our proposed hypotheses empirically. A two-source sample of 451 European hotel managers and employees extends the inquiry with the proposed model. Structural Equation Modeling (SEM) was employed to analyze the proposed relationships.

Findings reveal that organization inclusion is positively associated with OEV and employee-perceived OEV mediates an indirect link between organization inclusion on customer-oriented OCB. Moreover, psychological contract breach (P CB) attenuates the association between organization inclusion and OEV at the first stage and OEV, and OCB at the second stage.

The findings robustly corroborate our proposed model. The study findings culminate in a discussion accentuating the extensive implications of our findings for both research and practicality within the hospitality sector. Anchored in empirical revelations, we delineate avenues for future exploration in this pivotal domain.