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1 – 10 of 118Judit Csákné Filep, Olga Anna Martyniuk and Marta Wojtyra-Perlejewska
The institutional context in which family firms operate influences their behaviour and performance, yet literature reviews seldom analyse family firms on a regional basis. To fill…
Abstract
Purpose
The institutional context in which family firms operate influences their behaviour and performance, yet literature reviews seldom analyse family firms on a regional basis. To fill this gap, this review aims to present research on family entrepreneurship in the transition economies of the Visegrád countries (V4). In this particular group of European economies, the current formal institutions have largely evolved along Western European lines. However, the transformation of informal institutions appears to be still in its infancy.
Design/methodology/approach
In order to identify the most representative authors, the methodologies used, the main research topics and to establish a future research agenda, the authors selected, through a systematic process, 112 papers from the Web of Science up to the year 2022. The authors performed a bibliographic analysis using clustering algorithms, complemented by a traditional literature review.
Findings
The performance of family firms in transition economies has been the subject of very little research. The results allowed the authors to identify four main areas of research: governance, innovation, sustainability, competitive advantage and considering the influence of the region's characteristics on family business behaviour.
Originality/value
Studies from transition economies can contribute to a broader understanding of family firms in terms of the impact of the institutional environment (especially the influence of sociological changes and specific historical experiences of family members) on their long-term planning, socioemotional wealth (SEW) protection and ethics. In light of recent events, research from the region may also contribute to the understanding of how and to what extent “familiness” influences crisis management or socially responsible behaviour in family firms.
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Samuel Ssekajja Mayanja, Reuben David Kizito, Henry Mutebi and Regis Kamadduka Zombeire
The study empirically explores the influence of re-organization on entrepreneurial intentions and family business generational transfers among small and medium enterprises (SMEs).
Abstract
Purpose
The study empirically explores the influence of re-organization on entrepreneurial intentions and family business generational transfers among small and medium enterprises (SMEs).
Design/methodology/approach
Using multi-group analysis and partial least square structural equation models, data from 252 family-owned businesses were analyzed.
Findings
The results reveal that re-organization partially mediates the relationship between entrepreneurial intentions and family business generational transfers among SMEs.
Research limitations/implications
The study used a cross-sectional survey approach and focused on Kampala business district. If required and funding permits, a longitudinal study in this field may be conducted.
Practical implications
Family business owners ought to involve their family members in the management of the business from an early age, including them in the decision-making process, and use social exchange to strike a balance between their personal goals and the objectives of the business. In order to protect the business's goals, the business founder should mentor the next generation through quality family social interactions.
Originality/value
Integrating entrepreneurial intentions and re-organization is likely to improve the survival rate of family business generational transfers among SMEs in Uganda using social exchange theory.
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Zeshan Ahmad, Shahbaz Sharif, Muhammad Ahmad Alrashid and Muhammad Nadeem
The purpose of this study is to investigate how the congruence between predecessor and successor personality traits (PTs) with the values of their small family business (SFB…
Abstract
Purpose
The purpose of this study is to investigate how the congruence between predecessor and successor personality traits (PTs) with the values of their small family business (SFB) contributes to a successful succession transition across generations.
Design/methodology/approach
The conceptual model method was employed in this investigation, which describes an entity and identifies issues that should be considered in a study (MacInnis, 2011). It involves a form of theorizing that seeks to create a nomological network around the focal concept, to examine and detail the causal linkages and mechanisms at play (Delbridge and Fiss, 2013).
Findings
Drawing on the trait activation theory (TAT), this study conceptualizes that the congruence of the successor's PTs with those of the predecessor, as well as the values, transitions and nature of the assigned task, activates the successor's PTs and motivates him to work diligently for a successful succession transition while preserving the business's core values established by the founder.
Research limitations/implications
This study is an eye-opener for strategists and SFB predecessors to ponder the successor's PTs disparities across generations. Additionally, it urges them to consider the congruence of SFB's values and nature of operations with the successor's PTs for successful succession transition. Thus, such awareness may contribute to stabilizing the SFB's survival rate.
Originality/value
This study contributed to the existing literature by answering how predecessor’s and successor's PTs congruence and SFB's values and nature of operations congruence with their PTs may contribute to successful succession transition across generations. This study contributed to the TAT by thematically explaining the organizational cues to bridge a relationship between entrepreneurial personality traits (EPT) and succession success of SFBs.
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The aim of this research is to analyze empirical evidence of the effect of governance structure (GS) on perceived success of the succession process. It is also reported that in…
Abstract
Purpose
The aim of this research is to analyze empirical evidence of the effect of governance structure (GS) on perceived success of the succession process. It is also reported that in India, family firms have a more informal organization structure and governance and have an informal and unplanned approach to bringing the successors into family business. Previous studies have reported that GS is an important factor for a successful succession process. This study examines the role of management succession planning as an intervening variable to achieve perceived success of the succession process.
Design/methodology/approach
Data have been collected using a questionnaire schedule with 113 respondents who are successors from family business firms in Kerala, India. The study uses snowball sampling technique. Partial least square-structural equation modeling has been used to do data analysis.
Findings
The results of the study showed that GS has a significant positive effect on the success of the succession process. GS has a significant positive effect on management succession planning. Management succession planning partially mediates the relationship between GS and perceived success of the succession process.
Research limitations/implications
The results of the study indicate the effect of GS on the relationship between, perceived success of the succession process and management succession planning. The mediating role of management succession planning in the above relationship is also confirmed. Therefore, before starting the succession process a good GS should be put in place for ensuring the success of the succession process. Family firms must implement the succession plan well to make the succession process successful.
Originality/value
The main contribution of the study is to empirically investigate the effect of GS and management succession planning to enhance the success of the succession process.
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Giuseppe Valenza, Andrea Caputo and Andrea Calabrò
The field of scientific research on small and medium-sized family businesses has been growing exponentially and the aim of this paper is to systematize the body of knowledge to…
Abstract
Purpose
The field of scientific research on small and medium-sized family businesses has been growing exponentially and the aim of this paper is to systematize the body of knowledge to develop an agenda for the future.
Design/methodology/approach
Adopting comparative bibliometric analyses on 155 articles (from 1989 until 2018) the authors provide a systematic assessment of the scientific research about small family firms, unveiling the structure and evolution of the field. Bibliographic coupling, co-citation analysis and co-occurrence analysis are adopted to identify the most influential studies and themes.
Findings
Four clusters of research are reviewed: succession in family SMEs, performances of family SMEs, internationalization of family SMEs and organizational culture of family SMEs.
Originality/value
This paper contributes to the field of family SMEs by providing a systematic analysis of the scientific knowledge. Reviewing those clusters allows to providing avenues and reflections for future research and further practice.
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This study sheds light on a hitherto understudied group in family business literature: widows. We explore the roles a widow may take following the unexpected death of her…
Abstract
Purpose
This study sheds light on a hitherto understudied group in family business literature: widows. We explore the roles a widow may take following the unexpected death of her owner-manager spouse when she had no salient role in the business prior to the death.
Design/methodology/approach
We used a qualitative approach to research, to study inductively the roles considered and taken by three widows who unexpectedly succeeded as owners of Swedish privately held family firms. We conducted semi-structured interviews with widows and children in top management.
Findings
We construct a typology of four main roles a widow can take and analyse the underlying dimensions that they represent. We also analyse to which extent the choice of role widow can be explained by psychological ownership and double-loss theory. The typology can be used as a tool for family business owners and their advisors as the basis of an open and non-prejudiced discussion of the choices available to a widow.
Originality/value
We have investigated the factors that influence a widow's decision whether to take over the business or not, as suggested in previous research by, for example, Martinez et al. (2009). We explore the roles a widow can consider and adopt. The study advances our understanding of how businesses can remain as family firms also in the event of the unexpected death of an owner-manager (De Massis et al., 2008). We hereby contribute to the literature on sudden successions and on women in family businesses.
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Jenny Ahlberg, Sven-Olof Yrjö Collin, Elin Smith and Timur Uman
The purpose of this paper is to explore board functions and their location in family firms.
Abstract
Purpose
The purpose of this paper is to explore board functions and their location in family firms.
Design/methodology/approach
Through structured induction in a four-case study of medium-sized Swedish family firms, the authors demonstrate that board functions can be located in other arenas than in the common board and suggest propositions that explain their distribution.
Findings
(1) The board is but one of several arenas where board functions are performed. (2) The functions performed by the board vary in type and emphasis. (3) The non-family directors in a family firm serve the owners, even sometimes governing them, in what the authors term “bidirectional governance”. (4) The kin strategy of the family influences their governance. (5) The utilization of a board for governance stems from the family (together with its constitution, kin strategy and governance strategy), the board composition and the business conditions of the firm.
Research limitations/implications
Being a case study the findings are restricted to concepts and theoretical propositions. Using structured induction, the study is not solely inductive but still contains the subjectivity of induction.
Practical implications
Governance agents should have an instrumental view on the board, considering it one possible governance arena among others, thereby economizing on governance.
Social implications
The institutional pressure toward active boards could paradoxically reduce the importance of the board in family firms.
Originality/value
The board of a family company differs in its emphasis of board functions and these functions are performed with varying emphases in different governance arenas. The authors propose the concept of kin strategy, which refers to the governance importance of the structure of the owner and observations on bi-directional governance, indicating that the board can govern the owners.
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Angelo Paletta and Genc Alimehmeti
This paper aims to analyze the ex ante and ex post economic efficiency of the preventive agreement (concordato preventivo) or composition with creditors as defined by the Italian…
Abstract
Purpose
This paper aims to analyze the ex ante and ex post economic efficiency of the preventive agreement (concordato preventivo) or composition with creditors as defined by the Italian Bankruptcy Law. This study examines four possible outcomes of the procedure: homologation (confirmation); the degree of dissent/consent of creditors; the revocation, admissibility or inadmissibility; the declaration of the company bankruptcy in preventive agreement.
Design/methodology/approach
This paper uses data from 728 Italian companies which filed for preventive agreement in 2016. In reference to each of the four possible outcomes, this study applies nine logit regressions to analyze the effects of a series of efficiency variables ex ante (corporate-based drivers) and ex post (procedure-based drivers).
Findings
Results show the relevance of the debt structure, ownership structure and virtuous behavior, corporate governance and management systems, as well as effectivity of the court control on the preventive agreement outcome.
Originality/value
This paper draws on original data of bankruptcy in Italy and gives empirical evidence of the ex ante and ex post factors on the outcomes of the preventive agreement.
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Sonia Sánchez-Andújar, Purificación Parrado-Martínez and María Comino-Jurado
Considering the important development that research on debt financing decisions of family firms (FFs) has undergone in recent years, we aim to assess the current state of the…
Abstract
Purpose
Considering the important development that research on debt financing decisions of family firms (FFs) has undergone in recent years, we aim to assess the current state of the literature with the latest advances in this field.
Design/methodology/approach
We undertake a systematic review of 42 journal articles published on this topic in recent years.
Findings
As a result of our work, new directions for the advancement of this research field are established, such as the consideration of different methodologies and sources of heterogeneity of FFs, the need for an integration of the supply and demand side of funds or the importance of evaluating a diversity of firm-specific and contextual factors affecting the debt financial behaviour of FFs.
Originality/value
Considering the notable development of the field of debt financing decisions of FFs in recent years, we find it opportune and valuable to revise the advances and trends published in the most recent papers. Thus, by connecting previous and current knowledge, we provide an updated integrative model of the state of the art and posit key research questions to solve in the future.
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