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Article
Publication date: 3 February 2022

Renee D. Wiatt, Maria I. Marshall and Ryan Musselman

This study investigated the succession process in small and medium family farms as two distinct but related processes of management transfer and ownership transfer. Past…

Abstract

Purpose

This study investigated the succession process in small and medium family farms as two distinct but related processes of management transfer and ownership transfer. Past studies focused on the broad subject of succession, without dissecting succession into the components that it contains. Furthermore, this study aimed to evaluate which business, family and owner characteristics were significant in the progress of each process toward the actual transfer of management and ownership.

Design/methodology/approach

Telephone interviews were conducted to gather information from rural family businesses in Illinois, Indiana, Michigan and Ohio. A bivariate ordered probit regression was utilized to model the processes of management and ownership transfer as separate but related processes. Both management transfer and ownership transfer were modeled utilizing three distinct stages of transfer.

Findings

Business and owner characteristics were significant to both management and ownership transfer, whereas family characteristics only influenced ownership transfer. Farm family businesses that discussed goals, identified a successor and were educated on how to start the transfer process were more likely to have made progress in both management and ownership transfer.

Originality/value

The authors contribute empirically to the literature by modeling the components of the succession process, management transfer and ownership transfer, as separate but interrelated processes. The authors specifically investigate which business, owner and family characteristics influence the progression of management and ownership transfer in farm family businesses.

Details

Agricultural Finance Review, vol. 82 no. 3
Type: Research Article
ISSN: 0002-1466

Keywords

Article
Publication date: 6 June 2016

Julio Cesar Sampaio do Prado Leite, Flavia Maria Santoro, Claudia Cappelli, Thais Vasconcelos Batista and Fabiana Jack Nogueira Santos

The purpose of this paper is to propose a representation scheme based on the i* strategic actor model to represent the process owner information and show how to…

Abstract

Purpose

The purpose of this paper is to propose a representation scheme based on the i* strategic actor model to represent the process owner information and show how to incorporate this approach into the event driven process chain and Business Process Modeling Notation-BPMN meta-models and also into the aspect-oriented business process modeling (BPM) context.

Design/methodology/approach

The authors use a case study in a real setting to evaluate the proposal and a controlled experiment to get more evidence about its relevance.

Findings

The authors presented evidence both from a case study in a real-world library showing the importance of representing – previously unavailable – process owner information, and from an experiment which involved participants analyzing the same models of the case study, confirming the preliminary evidences. It is important to stress the recognition that the proposed representation provided more transparency, in terms of ownership, than the usual BPM models. These benefits are due to the combination of the aspect-oriented approach and the strategic actor model, providing ownership information in a more transparent way.

Originality/value

The authors not only argue the importance of clearly established process ownership, both of the core process and the aspectual process, but also the authors presented an approach to represent the actor involved in process and aspect ownership as an instantiation of the i* strategic actor. Using this approach, the process owner can be defined in terms of actors instead of the activities performed. It is also possible to define the aspect owner and to include the aspectual process concept in the business process model.

Details

Business Process Management Journal, vol. 22 no. 3
Type: Research Article
ISSN: 1463-7154

Keywords

Article
Publication date: 28 December 2018

Kjersti Berg Danilova

The purpose of this paper is to determine the state-of-the-art in research on process owners, a key role within business process management and process governance, and…

1720

Abstract

Purpose

The purpose of this paper is to determine the state-of-the-art in research on process owners, a key role within business process management and process governance, and thus to increase our understanding of the role of process owners.

Design/methodology/approach

The author conducts a systematic literature review of research shedding light on the role of process owners. The review includes 100 academic papers and 10 books on BPM.

Findings

Findings from the review demonstrate the significance of appointing process owners and showcase process owners’ role and responsibilities, as well as obstacles to and enablers of effective process ownership.

Originality/value

Based on the findings from the review, the author proposes a comprehensive framework on process ownership. The review provides a knowledge base for future research to build upon and can serve as a guide for practitioners. The review also identifies several research gaps and opportunities for future research.

Details

Business Process Management Journal, vol. 25 no. 6
Type: Research Article
ISSN: 1463-7154

Keywords

Book part
Publication date: 29 July 2009

Lawton R. Burns, Rajiv J. Shah, Frank A. Sloan and Adam C. Powell

Change in ownership among U.S. community hospitals has been frequent and, not surprisingly, remains an important issue for both researchers and public policy makers. In…

Abstract

Change in ownership among U.S. community hospitals has been frequent and, not surprisingly, remains an important issue for both researchers and public policy makers. In the past, investor-owned hospitals were long suspected of pursuing financial over other goals, culminating in several reviews that found few differences between for-profit and nonprofit forms (Gray, 1986; Sloan, 2000; Sloan, Picone, Taylor, & Chou, 2001). Nevertheless, continuing to the present day, several states prohibit investor-ownership of community hospitals. Conversions to investor-ownership are only one of six types of ownership change, however, with relatively less attention paid to the other types (e.g., for-profit to nonprofit, public to nonprofit). This study has two parts. We first review the literature on the various types of ownership conversion among community hospitals. This review includes the rate at which conversions occur over time, the relative frequency in conversions between specific ownership categories and the observed effects of conversion on hospital operations (e.g., strategic direction and decision-making processes) and performance (e.g., access, quality, and cost). Overall, we find that the impact of ownership conversion on the different measures is mixed, with slightly greater evidence for positive effects on hospital efficiency. As one explanation for these findings, we suggest that the impact of ownership conversion on hospital performance may be mediated by changes in the hospital's strategic content and process. Such a hypothesis has not been proposed or examined in the literature. To address this gap, we next study the role of strategic reorientation following hospital conversion in a field study. We conceptualize ownership conversion within a strategic adaptation framework, and then analyze the changes in strategy content and process across sixteen hospitals that have undergone ownership conversions from nonprofit to for-profit, public to for-profit, public to nonprofit, and for-profit to nonprofit. The field study findings delineate the strategic paths and processes implemented by new owners post-conversion. We find remarkable similarity in the content of strategies undertaken but differences in the process of strategic decision making associated with different types of ownership changes. We also find three main performance effects: hospitals change ownership for financial reasons, experience increases in revenues and capital investment post-conversion, and pursue labor force reductions post-conversion. Membership in a multi-hospital system, however, may be a major determinant of both strategy content and decision-making process that is confounded with ownership change. That is, ownership conversion may mask the impact of system membership on a hospital's strategic actions. These findings may explain the pattern of performance effects observed in the literature on ownership conversions.

Details

Biennial Review of Health Care Management: Meso Perspective
Type: Book
ISBN: 978-1-84855-673-7

Article
Publication date: 7 August 2017

Tingting Zhou and Juan LI

The purpose of this paper is to explore financial quality problems, based on the dynamics of the ownership structure, in the privatization process to clarify the internal…

Abstract

Purpose

The purpose of this paper is to explore financial quality problems, based on the dynamics of the ownership structure, in the privatization process to clarify the internal relation among the ownership’s attribution of the commercial mixed ownership company, the company’s performance and its financial relationships. This paper also examines the mixed ownership enterprise’s potential problems during the development process.

Design/methodology/approach

Adopting the single case study method, the authors selected the mixed ownership public company Hubei Sanxia New Building Materials Co., Ltd. (stock code: 600293) to explore, from a privatization perspective, the impact of mixed ownership on financial quality.

Findings

The study found that Sanxia experienced tight cash flow and heavy debt burdens due to the privatization and that its controlling shareholders used non-operating income to support Sanxia, thus characterizing the dual role of “the grabbing hand” and “the helping hand.” Sanxia’s privatization process highlighted the volatility of performance, the exception of monetary funds and the existence of accounting fraud rather than the prosperous development of the capital combination.

Originality/value

These findings provided case support that privatization negatively affects the financial quality of the company. Previous studies have indicated that there should be greater focus more on the issue that state-owned shares rebound during the process of privatization and that, with respect to commercial mixed ownership reform of state-owned enterprises, such reform must avoid the passive transfer of corporate control, ensure the fairness of the related transactions, prevent the loss of state-owned assets and preclude the controlling shareholders from seizing interests of listed companies.

Details

Nankai Business Review International, vol. 8 no. 3
Type: Research Article
ISSN: 2040-8749

Keywords

Article
Publication date: 21 November 2016

Mattias Nordqvist

The purpose of this paper is to extend the socio-emotional wealth (SEW) perspective in general, and the contribution by Martin and Gomez-Mejia (this issue) in particular…

Abstract

Purpose

The purpose of this paper is to extend the socio-emotional wealth (SEW) perspective in general, and the contribution by Martin and Gomez-Mejia (this issue) in particular. The aim is also to address recent calls to incorporate more micro-level theorizing in the development of the SEW perspective and to embrace the rich, real-world environment in which this phenomenon takes place. Focus is particularly on the SEW dimension that is related to the ability to exercise family control over a business.

Design/methodology/approach

The approach is conceptual and introduces symbolic interactionism, a theory from micro-sociology and socio-psychology, to the SEW literature within the family business field. The paper draws on a previously published study by the author and relies on the centrality of the notion of socio-symbolic ownership in family firms.

Findings

The concepts of socio-symbolic ownership and the process of enacting ownership underline how family and non-family actors interpret and act upon specific guiding values and interests that constitute SEW at a micro level in each family firm. Socio-symbolic ownership and the guiding values and interests that the ownership is based on allow scholars to capture SEW differences among family firms, as the specific values and interests typically vary between family firms.

Originality/value

An approach is outlined that helps scholars to develop a more process-sensitive theory of SEW. Studying how and why actors engage in the social interactions, symbolic relations and interpretations that constitute the decision-making gives a better understanding of the important micro-foundations of SEW, and of the heterogeneity of family firms.

Details

Management Research: Journal of the Iberoamerican Academy of Management, vol. 14 no. 3
Type: Research Article
ISSN: 1536-5433

Keywords

Abstract

Details

Documents from the History of Economic Thought
Type: Book
ISBN: 978-0-7623-1423-2

Article
Publication date: 17 May 2011

Edward Levitas, Vincent L. Barker and Mujtaba Ahsan

Firms that pursue invention face special conditions that heighten the potential conflict between managers and shareholders. High R&D spending increases the information…

Abstract

Purpose

Firms that pursue invention face special conditions that heighten the potential conflict between managers and shareholders. High R&D spending increases the information asymmetry between managers and shareholders because the invention process is rooted in tacit knowledge. Because tacit knowledge is difficult to communicate to external parties, shareholders will have problems monitoring whether managers are spending R&D in a manner that maximizes firm value.

Design/methodology/approach

Using agency theory, it is argued that managerial ownership is one solution to this problem and that high levels of R&D intensity will necessitate high levels of managerial ownership to counteract agency problems. However, it is also argued based on signaling theory that a firm's patenting activity reduces ownership requirement as well as moderating the managerial ownership‐R&D relationship.

Findings

Using a sample of firms from the knowledge‐intensive biotechnology industry, a positive relationship was found between R&D spending and managerial ownership. It was also found that this relationship is most strongly moderated by patenting activity.

Research limitations/implications

The findings would be strengthened by replication using samples from other knowledge‐intensive industries. Future research should examine how the critical determinants of success in other industries affect managerial ownership of firms in those industries.

Practical implications

The study shows that top managers have some control over the contracting environment. By aggressively pursuing patents managers can reduce their level of ownership in the firm.

Originality/value

The study finds evidence that in order to prevent agency problems firms undertaking inventive activity may require their managers to take larger ownership or aggressively pursue patents. High managerial ownership levels and patents can provide a signal to shareholders about the growth potential of the firm.

Details

Journal of Strategy and Management, vol. 4 no. 2
Type: Research Article
ISSN: 1755-425X

Keywords

Article
Publication date: 9 August 2011

Anna Moses

The purpose of this paper is to explore the area of process ownership and management in cross‐functional make‐or‐buy decision processes.

1720

Abstract

Purpose

The purpose of this paper is to explore the area of process ownership and management in cross‐functional make‐or‐buy decision processes.

Design/methodology/approach

Multiple case studies are used including both a longitudinal in‐depth case study and two retrospective case studies. The data were analyzed using cross‐case comparison as well as analysis through existing literature in the field of make‐or‐buy decision processes, after which propositions for further research were developed.

Findings

The propositions found concern in the fact that the function being responsible for the industrial network also should own the decision process. Letting research and development become a more powerful decision maker and distinguish between different types of make‐or‐buy decisions are also important aspects to consider.

Research limitations/implications

The findings are a first attempt in creating a foundation for future research in the area of process ownership and management of make‐or‐buy decisions. A future need to further develop these propositions is essential.

Practical implications

The function mostly affected by the outcome of the decision should be in charge of the process, and should also be process manager. The process owner should create awareness of different types of make‐or‐buy decisions.

Originality/value

Recently, make‐or‐buy decision processes are considered strategic decision processes, but neither in research nor industry is it clear who should own and manage these decision processes. The paper stretches this fact and brings forth possible owners.

Details

Management Research Review, vol. 34 no. 9
Type: Research Article
ISSN: 2040-8269

Keywords

Article
Publication date: 1 November 1996

Gianluca Spina, Emilio Bartezzaghi, Andrea Bert, Raffaella Cagliano, Domien Draaijer and Harry Boer

Defines a new manufacturing paradigm and investigates its adoption and performances, within the assembly industry on a global basis. The definition of the paradigm is…

1298

Abstract

Defines a new manufacturing paradigm and investigates its adoption and performances, within the assembly industry on a global basis. The definition of the paradigm is based on a set of basic principles to design and manage production systems which discard the traditional way of organizing manufacturing activities, and pool companies which pursue different manufacturing strategies and implement different innovative techniques. The paradigm is characterized by the simultaneous implementation of three principles: strategic multi‐focusedness, integration of business processes across functions, and process ownership. Starting from an operationalization based on fuzzy logic, explores the hypotheses about the adoption and the performance improvements of the multi‐focused manufacturing paradigm using a sample from the International Manufacturing Strategy Survey (IMSS) database. The paradigm has been adopted widely across countries and industries involved in the IMSS survey. Shows that process ownership is poorly implemented by most of the companies at the moment, while multi‐focusedness and integration are more on hand. Companies which have adopted the paradigm are improving their performance significantly better and quicker than partial or non‐adopters. Highlights different possible patterns that the companies can follow to reach core adoption of the multi‐focused manufacturing paradigm.

Details

International Journal of Operations & Production Management, vol. 16 no. 11
Type: Research Article
ISSN: 0144-3577

Keywords

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