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1 – 10 of over 7000Family constitutions are relatively new to the law of family companies, although there might have been forerunners in the history of entrepreneur families. The practical…
Abstract
Family constitutions are relatively new to the law of family companies, although there might have been forerunners in the history of entrepreneur families. The practical importance and the proliferation of family constitutions in German family companies are increasing, along with the discussion of family constitutions in legal literature. This new instrument of family governance is not law driven but business driven, it has been designed by business advisors. Its analysis and classification are still at the very beginning in academic research and practice. Even though family constitutions are generally deemed to be without any legal effect and not legally binding, from a legal point of view, this assumption is at least highly questionable.
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Anni Rajala and Annika Tidström
The purpose of this study is to increase understanding about vertical coopetition from the perspective of interrelated conflict episodes on multiple levels.
Abstract
Purpose
The purpose of this study is to increase understanding about vertical coopetition from the perspective of interrelated conflict episodes on multiple levels.
Design/methodology/approach
The empirical part is based on a qualitative single case study of a coopetitive buyer-supplier relationship in the manufacturing sector.
Findings
Conflicts in vertical coopetition evolve from being merely functional and task-related to becoming dysfunctional and relationship-related, as the level of competition increases. The nature of conflict episodes influences the development of vertical coopetition, and therefore, the interrelatedness of conflict episodes is important to acknowledge.
Practical implications
Although a conflict is considered functional within a company, it may still be dysfunctional as far as the coopetitive relationship with the buyer or seller is concerned. Competition may trigger conflicts related to protecting own technology and knowledge, which may lead to termination of the cooperation, therefore coopetition should be managed in a way that balance sharing and protecting important knowledge to get advantages of coopetition.
Originality/value
The findings enhance prior research on vertical coopetition by offering new perspectives on causes of conflicts, their management, outcomes and types. The value of taking a multilevel approach lies in the ability to show how conflicts occur and influence other conflicts through the interrelatedness of conflict elements on different levels.
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Emmadonata Carbone, Donata Mussolino and Riccardo Viganò
This study investigates the relationship between board gender diversity (BGD) and the time to Initial Public Offering (IPO), which stands as an entrepreneurially risky choice…
Abstract
Purpose
This study investigates the relationship between board gender diversity (BGD) and the time to Initial Public Offering (IPO), which stands as an entrepreneurially risky choice, particularly challenging in family firms. We also investigate the moderating role of family ownership dispersion (FOD).
Design/methodology/approach
We draw on an integrated theoretical framework bringing together the upper echelons theory and the socio-emotional wealth (SEW) perspective and on hand-collected data on a sample of Italian family IPOs that occurred in the period 2000–2020. We employ ordinary least squares (OLS) regression and alternative model estimations to test our hypotheses.
Findings
BGD positively affects the time to IPO, thus, it increases the time required to go public. FOD negatively moderates this relationship. Our findings remain robust with different measures for BGD, FOD, and family business definition as well as with different econometric models.
Originality/value
The article develops literature on family firms and IPO and it enriches the academic debate about gender and IPOs in family firms. It adds to studies addressing the determinants of the time to IPO by incorporating gender diversity and the FOD into the discussion. Finally, it contributes to research on women and outcomes in family firms.
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Thamirys de Sousa Correia and Wenner Glaucio Lopes Lucena
The purpose of this paper is to verify the relations of the board of directors with the code of business ethics (CBE) of Brazilian publicly traded companies.
Abstract
Purpose
The purpose of this paper is to verify the relations of the board of directors with the code of business ethics (CBE) of Brazilian publicly traded companies.
Design/methodology/approach
As for the methodology, data were collected from companies that traded shares in Brasil, Bolsa e Balcão (B3) through the Comdinheiro database and codes of ethics or business conduct. For this, in relation to the dependent variable, indexes were elaborated to represent the CBE (CBEI). To represent the independent variables of the board of directors, the following variables were selected: size of board, gender of the president, independence, chairman/CEO, age and number of meetings.
Findings
With that said, the results show that the size of the board, the independence and the number of meetings explain the informative content of the CBE. Also, the accumulation of positions of president and CEO negatively influences CBEI, so the research suggests that non-accumulation of positions reduces agency conflicts, generating transparency of CBEI, according to Agency Theory.
Research limitations/implications
Considering the analysis of this research, it is important to highlight that the results should not be generalized because of the limitation of the sample period and because it was only for the Brazilian companies. However, they cannot be invalidated, given that, because of the robustness of the econometric models, it was possible to make inferences about the relations of the board of directors and the CBE of companies that trade in Brasil, Bolsa e Balcão (B3).
Practical implications
The relations identified in this study between the board of directors and the CBE imply the involvement of top executives, so that the CBE be closer to the characteristics of the business, while the values must be transmitted with clear language, avoiding misunderstandings and conflicts that may be used by individuals in bad faith, with the purpose of apologizing for illegal acts of company.
Social implications
The board’s characteristics seek to support corporate responsibilities, fulfilling a diversity of issues in the operational scenario, including influencing the information content of the CBE. Besides being an expression of the organizational culture, because it evidences the rules of behavior and values of the company.
Originality/value
The business ethics, which in this research is represented by the CBE, is a factor in which there is evidence in international studies that there are relations with the board of directors. In this context, the present study seeks to verify the relationship between the board of directors and the CBE of Brazilian publicly traded companies.
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Jason Miklian and Ralf Barkemeyer
This paper aims to present a new survey data set of 9,065 private sector respondents and other stakeholder groups, in Myanmar. The primary aim of this paper is to offer new…
Abstract
Purpose
This paper aims to present a new survey data set of 9,065 private sector respondents and other stakeholder groups, in Myanmar. The primary aim of this paper is to offer new insight avenues on local business–conflict–development interactions, and offer the full survey data set itself as an open-source research tool for scholars and practitioners.
Design/methodology/approach
The survey was conducted over smartphone in 2018. It asked questions that aimed to better understand the relationships between business, ethnic conflict, investment, corporate social responsibility and the United Nations sustainable development goals in Myanmar and in Rakhine State in particular.
Findings
The data set captures a series of significant differences in corporate leadership perspectives on the role of business in society, across sectors (e.g. banking, agriculture, retail, manufacturing, extractives) and variations across firm country of ownership (e.g. national firms, Global North firms, Indian firms, Chinese firms).
Research limitations/implications
The authors conclude with a brief discussion of possible research findings from the survey, offering suggestions for possible forward analysis. The authors offer here the raw survey data as an attachment for full global open-source use and application.
Practical implications
This data set offers a unique window into stakeholder perceptions and understandings of working through conflict, and the role of business in development in a fragile conflict-affected state (Myanmar). The authors also conduct two example analyses of the data set using ANOVA and Kruskal–Wallis tests to illustrate possible uses and findings of the data set.
Social implications
The authors briefly discuss social implications as well, particularly regarding the role of business in peacebuilding and development.
Originality/value
This data set offers a unique window into stakeholder perceptions and understandings of working through conflict, and the role of business in development in a fragile conflict-affected state (Myanmar). The authors also conduct two example analyses of the data set using ANOVA and Kruskal–Wallis tests to illustrate possible uses and findings of the data set.
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Collective entrepreneurship is the synergism that emerges from a collective and that propels it beyond the current state by seizing opportunities without regard to resources under…
Abstract
Collective entrepreneurship is the synergism that emerges from a collective and that propels it beyond the current state by seizing opportunities without regard to resources under its control (Stevenson and Jarrillo 1990). This study provides a conceptual model of collective entrepreneurship and its relationship with leadership and team dynamics in the context of a small family business. It proposes two types of prerequisites for collective entrepreneurship: attitudinal and behavioral. The attitudinal prerequisite is family business members’ commitment to the family business. The behavioral prerequisite includes collaboration and task conflict among family business members. Further, the article argues that leadership behaviors directly affect the attitudinal and behavioral prerequisites, and indirectly affect collective entrepreneurship. Specifically, relations- oriented and participative leadership have positive, indirect effects on collective entrepreneurship. Task-oriented leadership has both positive and negative, indirect effects on collective entrepreneurship. An empirical study of 271 small family businesses in the United States confirmed most of the hypotheses.
Jennifer Oetzel and Jason Miklian
The purpose of this paper is to reconceptualize how managers of multinational enterprises (MNEs) manage risk, particularly in fragile and/or conflict-affected areas of operation…
Abstract
Purpose
The purpose of this paper is to reconceptualize how managers of multinational enterprises (MNEs) manage risk, particularly in fragile and/or conflict-affected areas of operation. The authors suggest that MNEs consider reducing risk at its source rather than trying to avoid or react to risks as they occur. By incorporating peacebuilding strategies, managers may not only reduce investment risk but also contribute to stability and prosperity in the communities where they operate, and gain a competitive advantage in doing so.
Design/methodology/approach
The authors show how firms can take a more holistic approach to working in conflict-affected areas. They do so by overlaying conceptualizations of risk with those of peacebuilding and then use case examples to illustrate how such actions work in practice.
Findings
Using a series of examples, the authors find that MNEs that incorporate peacebuilding frameworks in their risk calculations in complex settings tend to have a better understanding of local environments and how they affect firm operations and profitability. These same MNEs may hold a long-term advantage over international competitors that do not share the same understanding.
Originality/value
The authors argue that the study of relationships between international businesses and society in conflict-affected or fragile areas of operation is under-developed and tends to focus on negative (risk-aversion) aspects as opposed to positive (value-added) opportunities. This paper offers new ways in which these relationships can be reconceptualized. The authors’ main takeaway is that a peacebuilding approach does not require corporations to be arbitrators of peace at the expense of profit. Rather, it is instead a broader way to conceptualize and weigh risk when working in the world’s most challenging regions. This approach is more likely to be in the long-term interest of both the firm and the local society where the firm operates.
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