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Article
Publication date: 6 June 2008

Loukas J. Spanos, Lena J. Tsipouri and Manolis D. Xanthakis

Corporate governance (CG) has mainly focused on highly dispersed corporations. This paper has two objectives: to enrich the debate in this area and to contribute to the…

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Abstract

Purpose

Corporate governance (CG) has mainly focused on highly dispersed corporations. This paper has two objectives: to enrich the debate in this area and to contribute to the increasing body of literature by exploring the CG of the listed family firms in Greece; and to place the CG practices of Greek family firms within the international debate, especially in the framework of a small open capital market. In addition, this paper presents an attempt to quantify the compliance of family firms with international best practices.

Design/methodology/approach

The methodology consisted of the creation of a questionnaire reflecting the Greek CG code and other well‐regarded CG codes, like the OECD principles. The authors constructed a CG rating system and applied it to distinguish family from non‐family firms.

Findings

The main conclusion is that the family firms lack an efficient CG mechanism and they demonstrated poor governance compared with non‐family firms.

Practical implications

The results disclose the potential strengths and weaknesses of the existing CG framework of the family‐owned firms. The methodology applies in a small open economy and may have significant implications in other similar capital markets.

Originality/value

Methodologically, the merit of the exercise lies in its approach toward the creation of “collectively subjective” weightings, and is valuable to policymakers and academics.

Details

Managerial Finance, vol. 34 no. 7
Type: Research Article
ISSN: 0307-4358

Keywords

Article
Publication date: 29 May 2019

Helen Duh and Teichert Thorsten

Young consumers globally are susceptible to becoming compulsive shoppers. Having negative consequences and considering that compulsive shopping may originate from past…

Abstract

Purpose

Young consumers globally are susceptible to becoming compulsive shoppers. Having negative consequences and considering that compulsive shopping may originate from past family life experiences, this study aims to use human capital life-course and positive-activity theories to suggest a socio-psychological pathway for prevention. It also examined the mediating influence of happiness and money attitude.

Design/methodology/approach

University students in South Africa (N = 171) and in Germany (N = 202) were surveyed. Structural equation modelling (SEM) was used to test relationships and multi-group analysis (MGA) assessed cross-cultural differences.

Findings

Emotional family resources received during childhood positively impacted happiness at young adulthood, which was found to be a positive driver of budget money attitude. Budget money attitude in turn limited compulsive shopping for German young consumers but not for South Africans. Cross-cultural differences are also observed in mediating effects of happiness and budget money attitude.

Research limitations/implications

This study is based on self-reported data from university students; this might limit the generalisability of findings.

Social implications

A positive relationship between happiness and desirable money attitude was confirmed. This study additionally contributes by showing that for South African and German young consumers, adequate childhood emotional family resources is a happiness’ driver. This thus exposes the multiplier effects of simple acts of showing love and attention to children and how these family emotional resources can progressively limit dysfunctional consumer behaviour in the future.

Originality/value

Unlike complex psychotherapeutical and psychopharmacological treatments of compulsive buying that are being suggested, this study borrows from family, consumer and economic–psychological disciplines to suggest simple preventive measures.

Details

Young Consumers, vol. 20 no. 1
Type: Research Article
ISSN: 1747-3616

Keywords

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