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Article
Publication date: 29 June 2017

Jennifer Martinez-Ferrero, Lázaro Rodríguez-Ariza and Isabel María García-Sánchez

The purpose of this paper is to analyze how family ownership influences the strength of the board’s monitoring function in companies’ decisions regarding the assurance of…

1081

Abstract

Purpose

The purpose of this paper is to analyze how family ownership influences the strength of the board’s monitoring function in companies’ decisions regarding the assurance of sustainability reports.

Design/methodology/approach

The international sample consists of 536 companies operating in more stakeholder-oriented countries during the period 2007-2014. The paper proposes alternative logit models of analysis using the random-effects estimator.

Findings

The results provide evidence that a firm’s sustainability assurance and its choice of accounting professionals as higher quality assurers are positively associated with board size and independence. The main result is the positive impact of family businesses on these assurance issues. The paper evidences the greater orientation toward sustainability issues of family businesses. Furthermore, it verifies the greater impact of board size on family firms’ assurance demand.

Originality/value

This study sheds some light on the unexplored topic of sustainability assurance in family firms. One of the differentiating aspects with respect to previous studies is the consideration of the moderating factor of family property. This study also contributes to the understanding of family firms’ demand for assurance and its practitioners, and the literature’s focus on its determinants.

Details

Journal of Small Business and Enterprise Development, vol. 24 no. 4
Type: Research Article
ISSN: 1462-6004

Keywords

Article
Publication date: 25 February 2020

Sara Rodriguez Gomez, María Victoria Lopez Perez, Raquel Garde Sánchez and Lázaro Rodríguez Ariza

Society in general demands ethical behaviour in the business world. The research aim of the paper is to analyse whether higher education institutions of business contribute to…

Abstract

Purpose

Society in general demands ethical behaviour in the business world. The research aim of the paper is to analyse whether higher education institutions of business contribute to ethical decision-making in students through a specific training approach based on practical methodologies that take into account students' personal characteristics, which may affect ethical decision-making. The acquisition of knowledge should be more effective when it is based on personal characteristics.

Design/methodology/approach

Case method, discussion and self-learning methodology were used, and at the end of the term, the students were evaluated and asked to complete a 48 closed-question questionnaire. A linear regression model is performed to analyse to what extent the results are associated to the variables proposed.

Findings

The results show that knowledge is an explanatory variable, but personal characteristics such as gender or empathy reinforce the learning. Gender difference affects the ethical decisions made and empathy, showing that training based on emotions is effective. Besides, the results show that students integrate family influence in their training process.

Research limitations/implications

In this paper, the authors have selected empathy, gender and instruction. They have taken into account the incidence of age and family education. In addition, other contextual factors can have an incidence on training and the model could be improved.

Practical implications

The results show that it is necessary to take into account the students' personal characteristics and select an appropriate training methodology to teach ethics and obtain success.

Social implications

The students graduating from these courses will be future managers and entrepreneurs and will make decisions in which ethical questions must be taken into account, hence the need for training in this respect.

Originality/value

The teaching of business ethics in business faculties is not an easy subject. It is necessary to select the approach of ethic and an effective methodology to achieve the learning objective. This learning methodology must take into account students' characteristics to be effective. The business students are future managers and entrepreneurs who will make decisions in which ethical questions must be considered, hence the need for training in this respect.

Details

Education + Training, vol. 63 no. 3
Type: Research Article
ISSN: 0040-0912

Keywords

Article
Publication date: 7 November 2016

Lázaro Rodriguez-Ariza, Jennifer Martínez-Ferrero and Manuel Bermejo-Sánchez

Based on earnings management (EM) practices, the purpose of this research is to analyze their market social consequences on corporate reputation. Moreover, this paper illustrates…

2688

Abstract

Purpose

Based on earnings management (EM) practices, the purpose of this research is to analyze their market social consequences on corporate reputation. Moreover, this paper illustrates this impact in the context of family firms which are led and controlled by family members, whose main interest is the long-run survival through succession.

Design/methodology/approach

A sample comprising 1,169 international listed companies for the period 2006-2010 was used.

Findings

The empirical evidence shows the negative impact of these discretionary accounting practices on corporate image. However, family firms have more incentives for controlling and monitoring managerial decisions, avoiding information asymmetries and, thus, EM behavior and their subsequent loss of reputation. Therefore, fewer negative effects on corporate reputation are observed in highly concentrated ownership structures as a result of the negative link between family control and EM.

Originality/value

This study presents a number of contributions because of its focus on specific discretionary practices and on family firms. This study contributes to previous literature on family firms, as previous papers do not tend to focus on EM issues. Moreover, in contrast to most of the studies that have focused on only one country, we use an international panel database. This leads to potentially more powerful and generalized results. In addition, this paper is the first attempt (to the authors' knowledge) to study the possible impact of EM on corporate reputation in the family firm context.

Details

Accounting Research Journal, vol. 29 no. 4
Type: Research Article
ISSN: 1030-9616

Keywords

Article
Publication date: 3 July 2023

Karen Watkins-Fassler, Lázaro Rodríguez-Ariza, Virginia Fernández-Pérez and Guadalupe del Carmen Briano-Turrent

This study analyses interlocking directorates from the perspective of an emerging market, Mexico, where formal institutions are weak, and family firms with high ownership…

Abstract

Purpose

This study analyses interlocking directorates from the perspective of an emerging market, Mexico, where formal institutions are weak, and family firms with high ownership concentration dominate. It responds to recent calls in the literature on interlocks, which urge the differentiation between family and non-family businesses and to complete more research on emerging economies.

Design/methodology/approach

A database was constructed for 89 non-financial companies (52 family-owned) listed on the Mexican Stock Exchange (BMV) from 2001 to 2014. This period includes normal times and an episode of financial crisis (2009–2010). To test the hypotheses, a dynamic panel model (in two stages) is used, applying GMM.

Findings

In normal times, the advantages of Board Chairman (COB) interlocks for the performance of publicly traded Mexican family firms are obtained regardless of the weak formal institutional environment. By contrast, during financial crisis, interlocking family COBs are more likely to jointly expropriate minority shareholders with actions that further their family objectives, which mitigates the positive effect of interlocks on performance. These findings contrast with the insignificant effects of COB interlocks found for non-family corporates.

Originality/value

A new framework is proposed which, through agency theory, finds points of concordance among resource dependence and class hegemony theories, to understand the effect of interlocking directorates on the performance of family firms operating in Mexico. The results of the empirical exercise for family companies listed on BMV during normal and financial crisis periods suggest its applicability.

Details

Journal of Family Business Management, vol. 14 no. 1
Type: Research Article
ISSN: 2043-6238

Keywords

Article
Publication date: 15 October 2019

Isabel María García-Sánchez, María-Elena Gómez-Miranda, Fátima David and Lázaro Rodríguez-Ariza

In view of the significant deficiencies that have been observed in corporate social responsibility (CSR) reporting practices, some companies have undertaken a new communication…

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Abstract

Purpose

In view of the significant deficiencies that have been observed in corporate social responsibility (CSR) reporting practices, some companies have undertaken a new communication strategy based on a combination of the GRI guidelines and the IFC Performance Standards (termed the GRI-IFC strategy). This paper aims to analyse the role of the CSR committee and of assurance services in promoting this novel practice.

Design/methodology/approach

The authors use an unbalanced sample of 750 international companies that operate in emerging markets for the years 2011-2016, in which logistic and ordinal regressions are applied to the panel data to test the research hypotheses.

Findings

The results show that the existence of a CSR committee facilitates adoption of the GRI-IFC strategy, thus promoting sustainable management policies and systems and enhancing communication with stakeholders. In addition, these specialised committees often commission assurance for sustainability reports, to reinforce strategies aimed at improving corporate transparency.

Research limitations/implications

The analysis of mediation shows that diverse characteristics of corporate governance mechanisms interact in improving sustainability and business transparency.

Practical implications

There is an evident need for greater commitment by institutions to sustainability, for example by requiring greater specialisation of the members of the CSR committee in social and environmental issues. In addition, consideration should be given to including the creation of a CSR committee as a good practice, within the code of corporate governance and to establishing a specific framework for the committee’s actions.

Social implications

The previously cited impacts of this paper all contribute indirectly to a greater social welfare by generating higher levels of transparency, ethics and corporate performance. Specifically, higher quality verification services will have an impact on the improved functioning of the financial and capital markets, as well as in decision-making by internal and external stakeholders with more reliable information that will favour the implementation of more sustainable processes that in the short and long term will mean more companies who are responsible towards the environment and society.

Originality/value

This novel study explains why companies adopt voluntary strategies in compliance with GRI guidelines, seeking to provide better CSR disclosure.

Details

Sustainability Accounting, Management and Policy Journal, vol. 10 no. 5
Type: Research Article
ISSN: 2040-8021

Keywords

Article
Publication date: 1 March 2016

Jennifer Martinez Ferrero, Lázaro Rodríguez-Ariza and Manuel Bermejo-Sánchez

This paper considers the association between family firms and managerial discretion, hypothesising that a higher degree of family ownership may decrease the conflict of interest…

Abstract

Purpose

This paper considers the association between family firms and managerial discretion, hypothesising that a higher degree of family ownership may decrease the conflict of interest between owners and managers, thus avoiding the risk of discretionary actions by the latter.

Design/methodology/approach

Our empirical analysis is based on a large sample of international listed companies from 20 countries including the Special Administrative Region of Hong Kong and covers the period 2002–2010. Methodologically, we use a logit model with marginal effects on the panel data.

Findings

Our analysis shows that family ownership is associated with greater control and monitoring of managerial decisions, thus avoiding information asymmetries and, therefore, the risk of discretionary actions. In other words, family owners impose a stronger discipline and dissuade non-family managers from using managerial discretion to act in their own interest. Finally, we clarify the inconclusive results reported previously about the effects of family ownership on discretionary practices.

Originality/value

Our paper contributes to the family firm literature by providing evidence of the impact of ownership structure on the level of discretionay practices. Furthermore, we explore the differences between family and non-family firms as each group has its own varied characteristics. Moreover, in contrast to most previous studies, which have focused on only one country, we extend the analysis to include an international sample of 20 countries. This leads to potentially more powerful and generalizable results.

Details

Journal of Family Business Management, vol. 6 no. 1
Type: Research Article
ISSN: 2043-6238

Book part
Publication date: 12 March 2020

Sergio Paternostro

There are still many different theoretical approaches and practical interpretations about what an integrated report is. Starting from this premise, the overall purpose of this…

Abstract

There are still many different theoretical approaches and practical interpretations about what an integrated report is. Starting from this premise, the overall purpose of this chapter is to critically analyze the relationship between integrated reporting (IR) and social/sustainability disclosure. Indeed, although some scholars considered IR as a tool to improve the sustainability approach of the companies allowing to disclose more relevant social information, others are more critical about the potentiality of IR to improve social disclosure. Therefore, the general research question is: Is there a natural link between IR and social disclosure (true love) or is the IR a practice to “normalize” the social disclosure and accounting (forced marriage)?

In the attempt to provide a preliminary answer to the research question, the chapter analyzes what is the approach of three categories: (1) academics; (2) soft-regulators; and (3) companies. From the methodological point of view, a mixed method of analysis has been adopted.

From the analysis of the three different points of view, IR can be considered as a “contested concept” because of the heterogeneous and sometimes conflicting interpretations and implementation that are done on this type of report. This leads to relevant theoretical and practical implications.

Details

Non-Financial Disclosure and Integrated Reporting: Practices and Critical Issues
Type: Book
ISBN: 978-1-83867-964-4

Keywords

Article
Publication date: 4 March 2014

Virginia Fernández-Pérez, Patricia Esther Alonso-Galicia, María del Mar Fuentes-Fuentes and Lazaro Rodriguez-Ariza

This study analyses the role of social networks and their effects on academics' entrepreneurial intentions (AEI), from an academic cognitive perspective. Specifically, the paper…

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Abstract

Purpose

This study analyses the role of social networks and their effects on academics' entrepreneurial intentions (AEI), from an academic cognitive perspective. Specifically, the paper investigates how business (distinguishing between industrial and financial links) and personal social networks, through opportunity-relevant information and support, could influence academics' intentions to start a business venture on the basis of their research knowledge. The paper examines the mediator roles of entrepreneurial attitudes (EA) and self-efficacy on opportunity recognition (SOR) as important psychological variables for academics. In the same context, the paper examines the mediator role of gender.

Design/methodology/approach

The hypotheses were tested using structural equation modelling analysis, on a sample population of 500 Spanish academics engaged in commercially oriented fields of research.

Findings

The results obtained highlight the positive roles played by business (industrial and financial) networks, both directly in promoting AEI, and indirectly via EA and SOR. The paper finds that male and female academics differ in their perceptions of support from business and financial networks and in their use of these resources in business start-up.

Practical implications

An understanding of these issues offers opportunities to shape government interventions to assist academic entrepreneurs embarking on a business venture, or those already active in this respect, increasing their effectiveness in building, utilizing and enhancing the quality of networking activities.

Originality/value

The paper explores business networking for academics as a factor promoting entrepreneurship. Furthermore, the paper considers an under-researched area that of female entrepreneurship in what is traditionally considered a male-dominated activity.

Details

Industrial Management & Data Systems, vol. 114 no. 2
Type: Research Article
ISSN: 0263-5577

Keywords

Article
Publication date: 10 August 2015

Patricia Esther Alonso-Galicia, Virginia Fernández-Pérez, Lázaro Rodríguez-Ariza and María del Mar Fuentes-Fuentes

The purpose of this paper is to draw from an adapted model of the Theory of Planned Behaviour and from existing models of entrepreneurial intention (EI) to analyse the role of…

1321

Abstract

Purpose

The purpose of this paper is to draw from an adapted model of the Theory of Planned Behaviour and from existing models of entrepreneurial intention (EI) to analyse the role of gender on academics’ perceptions concerning the commercialisation of their research results. In particular, the authors explore differences in perceptions arising from diverse cognitions, such as attitudes towards entrepreneurial activities, the influence of close social groups and opportunity recognition self-efficacy.

Design/methodology/approach

A questionnaire was addressed to 500 Spanish academics who have headed research projects with public funding in technology-related areas, and the results were subjected to multigroup structural equation analysis (LISREL) to determine the extent and nature of the differences within this group.

Findings

The results obtained show that the influence of close social groups is perceived differently by men and women, particularly as regards the support received for academics’ attitudes and perceptions of control over the development of EI.

Practical implications

The aim is to better understand the world facing academics and the influences on their intention to commercialise research outcomes. An understanding of these issues offers the opportunity to design appropriate government interventions to assist academic entrepreneurs undertaking a business venture.

Originality/value

This paper considers an under-researched area that of female entrepreneurship in academia, traditionally considered a male-dominated activity. Helpful information is provided on gender differences in the academic context.

Details

Journal of Managerial Psychology, vol. 30 no. 6
Type: Research Article
ISSN: 0268-3946

Keywords

Article
Publication date: 7 April 2015

M.Elena Gómez-Miranda, M.Carmen Pérez-López, Eva Argente-Linares and Lázaro Rodríguez-Ariza

The characteristics of a particular organizational culture may affect performance in achieving the objectives of international joint ventures (IJVs), a type of partnership that is…

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Abstract

Purpose

The characteristics of a particular organizational culture may affect performance in achieving the objectives of international joint ventures (IJVs), a type of partnership that is often used in international business relations between developed and emerging countries. The purpose of this paper is to analyse whether the underlying dimensions that characterize organizational culture in these countries may affect firms’ performance, specifically their competitiveness, effectiveness and efficiency.

Design/methodology/approach

The survey conducted for this study was addressed to Spanish-Moroccan IJVs trading in Morocco. The research hypotheses were tested using multivariate analysis techniques (exploratory factor analysis and linear regression model).

Findings

Based on information provided by the CEOs of Spanish-Moroccan IJVs between small- to medium-sized firms, the present study shows that levels of competitiveness, effectiveness and/or efficiency in these organizations are influenced by the involvement of staff in management, the degree of centralization of decision taking and the firms’ emphasis on results or on procedures.

Practical implications

This research contributes to the knowledge of the main factors related to the organizational culture of joint ventures that influence competitiveness, effectiveness and efficiency achieved.

Originality/value

The value provided by this research lies in the sample examined, in its focus on a very common type of partnership between SMEs, which has been little studied previously, and in the fact that the results obtained are extensible to other realities, such as partnerships between European companies and those from countries with similar characteristics (located in Africa or in countries where an Arab culture prevails).

Details

Personnel Review, vol. 44 no. 3
Type: Research Article
ISSN: 0048-3486

Keywords

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