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This issue includes five of the best papers, from six different countries, presented in the Cladea Assembly of 2015. This introduction summarises the papers and presents an analysis of Latin American publications on management, and of the advantages and conditions for international collaboration. The first article looks at the positive impact of the decentralization of decision-making processes and the formalisation of work in the innovation of small and medium enterprises. The second studies the fear of failure in work and its relationship to demographic variables. The third analyses the impact of the domestic violence suffered by workers on customer services in Puerto Rican companies. The fourth discusses the relationship between teleworking and the work-family conflict, and finally, the fifth is aimed at optimising the management of dependent demand inventory systems.

This issue includes five articles chosen among the best papers presented at the Cladea Assembly of 2015 organised by Universidad de Valparaíso (Chile). The articles were sent in from Brazil, Chile, Colombia, Costa Rica, Spain, and Puerto Rico, and were the best assessed in the fields of organisational behaviour, leadership and human capital management, entrepreneurships and SMEs, technology management and innovation, and operations management and value chains.

The selection process began with the evaluation of the works sent to the conference for each topic. The author wish to thank the organisers, those in charge of each topic, and all the evaluators that helped select the best works. In particular, we thank Sergio Olavarrieta, José Ernesto Amorós, Jorge Ayala, Silvio Borrero, Daniel Cabrera, Reinaldo Calvo, Consuelo García, Valeska Geldres, Jorge Gilbert, Olga Pizarro, José Antonio Robles, and Jorge Tarzijan. Authors interested in publishing their articles were asked to send in a revised version. These new versions were then subjected to a double blind evaluation, and subsequent revisions until reaching the current publication. This has been a collective process in which dozens of academics from all the Cladea schools and countries have taken part.

Este número incluye cinco de los mejores trabajos presentados en la asamblea de Cladea 2015, provenientes de seis países. En la presente introducción se resumen y comentan los trabajos, se ofrece un análisis acerca de las publicaciones latinoamericanas sobre gerencia y de las ventajas y condiciones de la colaboración internacional. El primer artículo analiza el positivo impacto de la descentralización de las decisiones y la formalización del trabajo en la innovación de las PYMES. El segundo estudia el miedo al fracaso en el trabajo y su relación con variables demográficas. El tercero analiza el impacto en el servicio al cliente de la violencia doméstica experimentada por trabajadoras en empresas de Puerto Rico. El cuarto estudia la relación entre el trabajo a distancia en el hogar (teletrabajo) y el conflicto familia-empresa. El quinto se orienta a optimizar el manejo de inventarios en sistemas con demanda dependiente.

En este número publicamos cinco artículos escogidos entre las mejores ponencias presentados en la Asamblea de CLADEA 2015 organizada por la Universidad de Valparaíso (Chile). Los artículos provienen de Brasil, Chile, Colombia, Costa Rica, España y Puerto Rico, y fueron los mejor evaluados en los temas de comportamiento organizacional, liderazgo y gestión del capital humano, emprendimientos y PYMES (pequeña y mediana empresa), gestión tecnológica e innovación, y gestión de operaciones y cadena de valor.

El proceso de selección se inició por las evaluaciones que se hicieron en cada tema para aceptar los trabajos enviados a la asamblea. Debemos agradecer a los organizadores, a los encargados de cada tema y a todos los evaluadores que permitieron tener una selección de los mejores trabajos, en especial a Sergio Olavarrieta, José Ernesto Amorós, Jorge Ayala, Silvio Borrero, Daniel Cabrera, Reinaldo Calvo, Consuelo García, Valeska Geldres, Jorge Gilbert, Olga Pizarro, José Antonio Robles, y Jorge Tarzijan. Posteriormente desde esta revista procedimos a solicitar versiones revisadas a los autores que estuvieran interesados en publicarlos, versiones sometidas a evaluación doble ciego, que llevaron a posteriores revisiones hasta la publicación actual. Ha sido un proceso colectivo donde participaron docenas académicos de todas las escuelas y países de Cladea.

The vulnerability of the tourism industry to an array of risks, encompassing family-related, small- and medium-sized enterprise-specific, strategic, tourism-specific and external factors, highlights the landscape within which small and medium family enterprises (SMFEs) operate. Although SMFEs are an important stakeholder in the dynamic tourism sector, they are not one homogenous group of firms, but have different strategic orientations. This study aims to investigate the interplay between strategic orientation and risk perception to better understand SMFEs risk perception as it is impacting their decision-making processes, resilience and long-term survival. The authors investigate how different strategic orientations contribute to different perspectives on risk among owner-managers.

Based on a qualitative data corpus of 119 face-to-face interviews, the authors apply various coding rounds to better understand the relationship between strategic orientations and the perceptions of risks. Firstly, the authors analysed the owner–manager interviews and identified three groups of different strategic orientations: proactive and sustainability-oriented SMFE, destination-affirmative and resilience-oriented SMFE and passive SMFE. Secondly, the authors coded the interviews for different risks identified. The authors identified that the three groups show differences in the risk perceptions.

The data unveil that the three groups of SMFEs have several differences in how they perceive risks. Proactive and sustainability-oriented SMFEs prioritize business risks, demonstrating a penchant for innovation and sustainability. Destination-affirmative and resilience-oriented SMFEs perceive a broader range of risks, tying their investments to destination development, emphasizing family and health risks and navigating competitive pressures. Passive SMFEs, primarily concerned with external risks, exhibit limited awareness of internal and strategic risks, resist change and often defer decision-making to successors. The findings underscore how different strategic orientations influence risk perceptions and decision-making processes within SMFEs in the tourism industry.

The authors contribute to existing knowledge include offering a comprehensive status quo of perceived risks for different strategic orientations, a notably underexplored area. In addition, the differences with respect to risk perception shown in the paper suggest that simplified models ignoring risk perception may be insufficient for policy recommendations and for understanding the dynamics of the tourism sector. For future research, the authors propose to focus on exploring the possible directions in which strategic orientation and risk perception influence one another, which might be a limitation of this study due to its qualitative nature.

Varying strategic orientations and risk perceptions highlight the diversity within the stakeholder group of SMFE. Recognizing differences allows for more targeted interventions that address the unique concerns and opportunities of each group and can thus improve the firm’s resilience (Memili et al., 2023) and therefore leading to sustainability destinations development. The authors suggest practical support for destination management organizations and regional policymakers, aimed especially at enhancing the risk management of passive SMFEs. Proactive SMFE could be encouraged to perceive more family risks.

Viewing tourism destinations as a complex stakeholder network, unveiling distinct risk landscapes for various strategic orientations of one stakeholder has the potential to benefit the overall destination development. The proactive and sustainability-oriented SMFEs are highly pertinent as they might lead destinations to further development and create competitive advantage through innovative business models. Passive SMFEs might hinder the further development of the destination, e.g. through missing innovation efforts or succession.

Although different studies explore business risks (Forgacs and Dimanche, 2016), risks from climate change (Demiroglu et al., 2019), natural disasters (Zhang et al., 2023) or shocks such as COVID-19 (Teeroovengadum et al., 2021), this study shows that it does not imply that SMFE as active stakeholder perceive such risk. Rather, different strategic orientations are in relation to perceiving risks differently. The authors therefore open up an interesting new field for further studies, as risk perception influences the decision-making of tourism actors, and therefore resilience.

The small Brazilian companies are responsible for a large part of national GDP and formal jobs in the country. This expressiveness is contrasted with the specificities of companies of this size possess, including the need to innovate to survive. Research shows that 83 percent of Brazilian SMEs have launched new products and services, obtaining positive results through this innovative process. This competitive advantage is weighted by a great feature of the small organization: resource constraint. The paper aims to discuss this issue.

Research was carried out in three stages: one qualitative research (by using focal groups) and another two quantitative research works (descriptive and cross-sectional).

The author identified three factors that are important for teenagers when influencing the purchase of the family car: safety, sportiness and comfort. The identification of these factors shows that the millennial generation tends to emphasize aspects of individual interest, such as status and performance, and family context, such as safety and comfort, rather than social aspects, such as the type of fuel and environmental impact.

The authors recommend the development of automobiles that prioritize the three factors mentioned herein in order to reverse the trend of declining car purchase.

The authors presented the relevant attributes in buying decisions of family cars according to teenagers. The authors also indicated which automobile attributes are relevant for a more informed, connected, and with an increasing purchase power generation in contrast with previous generations, whose social context was prior to the emergence of social media.

The purpose of this paper is to analyse the direct impacts on financial performance and the added value of production in family businesses, considering the efficiency of intellectual capital as determining variables.

A comparative analysis between family businesses (FB) and non-family businesses (NFB) is proposed to explore significant differences in the impacts on financial performance and added value of companies, through multivariate techniques. It contributes to the literature on the family business, and its performance from an analytical framework that incorporates the theory of intellectual capital and the measurement of its impact.

The findings show that the value-added coefficient of intellectual capital (VAICTM) is a determining factor in the financial performance of companies and, to a greater extent, in the FB than in their NFB counterparts. It is also verified that the efficiency of intellectual capital in the FB has a direct and greater relationship with the value added of production (VAEmp), with respect to non-family businesses, being an important factor in predicting the performance of companies.

The findings allow us to conclude the importance of efficient management of intangible factors in companies, such as intellectual capital, becoming a competitive advantage factor.

The document explores the relationship and impact of VAICTM in family businesses that belong to an emerging economy and demonstrates the existence of differences between FB and NFB, at the level of intangible factors under a comparative analysis.

The purpose of this paper is to investigate the relationship between board size (B-SIZE) and financial and reputational corporate performance in top companies ranked by the Business Monitor of Corporate Reputation – MERCO in Colombia.

This paper conducts correlations and cluster analysis in order to classify firms based on performance and control variables, using a sectional sample of 84 large companies in Colombia over the period 2008-2012.

This research founds that large boards are associated with high performance on corporate reputation, as stated by the resource dependence theory, and a low-financial performance, as predicted by the agency theory. However, the results indicate that there is no relation between financial and reputational performance.

This research considered only large companies listed by MERCO. Therefore, the results can only be generalized for top firms in Colombia according to this list. However, results add empirical evidence to theoretical debate between B-SIZE and firm performance considering financial and reputational indicators.

According to the OECD manual of good corporate governance practices, the optimal B-SIZE has between five to nine core members. The board structure has a direct impact over the firm’s financial and reputational performance and must be carefully analyzed by shareholders to balance the size according to expected results and firm’s features like family ownership, exportation activities and norms of stock markets.

This paper contributes to the existing literature on the relationship between B-SIZE and corporate performance with the evaluation of financial and reputational results for the case of an emerging economy. In Latin America, this analysis must go beyond OECD recommendations, and shall consider the context of an emerging country based on empirical evidence.

This paper aims to analyze the influence of gender diversity on the relationship between corporate social responsibility (CSR), corporate governance (CG) and economic and financial performance of Brazilian publicly traded companies.

The sample comprises 68 non-financial public companies comprising the IBX100 index of BM&FBOVESPA. For that, it was used panel data modeling, correlation and ranking by TOPSIS method.

The results suggest a significant relationship between CG and economic–financial performance when mediated by gender diversity. This relationship was not observed between CSR and economic–financial performance. Thus, it can be concluded that in a diversified board of directors, in terms of gender, better monitoring of managers can occur because of the increase in their independence in decisions, as well as performance increase. These results diverge from the literature on the influence of women’s participation in corporate boards in CSR. It is assumed that this result is because of the fact that the participation of women is recent in Brazil.

The main limitations are the number of companies analyzed, the choice of ISE index to verify the CSR variable and the metric used to verify the CG mechanisms.

In general, this research contributes to the literature of the area, especially in Brazil, in confirming that the mediating variable gender diversity makes the relationship between CG and performance more significant.

The purpose of this paper is to analyse the relationship between the participation of women in companies with financial performance. However, this relationship does not arise directly. The authors argue that the participation of women in the company’s staff has a positive effect on the creation of work-life balance (WLB) practices, due to women have traditionally assumed family responsibilities, and subsequently these practices positively affect financial performance. WLB practices are a tool to balance employees’ professional and personal goals.

This study aims to determine whether WLB practices mediate in the relationship between female participation in the workforce and financial performance on large companies listed in the Spanish Stock Exchange Index during the period from 2008 to 2013.

The main finding is that female participation in the workforce positively affects to the availability of WLB practices, but WLB practices are not a mediator to increase financial performance.

The study is a new contribution for academics and practitioners, since the WLB has a role of moderating variable; and the positive joint effect of female participation and WLB practices is tested over the company’s outcomes, instead of over the individual employee behaviour like in previous literature. In addition, this effect is studied in a country with economic recession where corporate WLB practices have increased in the last decade.

A summary of the economic impact resulting from the celebration of a sporting mega-event in the city of Cali, Colombia, is carried out in this article.

The impacts are estimated by means of the systematic effects produced by the activities of investment/expenditure of the identified agents and the consequent multiplying effects captured from an input-output model.

The World Games represented a new income flow to the city of Cali of $101.036 million pesos (≡US$53.4 mill.) and 9.598 jobs were created (≡7,711 full-time jobs). Additionally, 2,174 foreign tourists and 11,250 national tourists were attracted to the city.

The article contributes with innovative aspects methodologically speaking, useful for future studies of economic impact in cities with low tourism located in developing countries.

The purpose of this paper is to examine, among the possible causes, whether trust in the leader is one of the most relevant factors on the success of a virtual work team by analyzing different antecedents of the trust and its consequences.

The influence that certain physical and behavioral characteristics of the leader (attractiveness, empathy and justice) exert on the degree of trust is evaluated. On the other hand, the influence of trust on the efficiency of the team, in terms of organizational citizenship behavior and commitment, is analyzed. To test the model, a survey was conducted on real work teams and the data were analyzed through a model of structural equations.

The results support the hypotheses and consequently, the relevance of trust in the leader. Specifically, the leader’s physical and behavioral characteristics have a significant effect on the trust in the leader. This trust results in greater organizational efficiency.

Despite the undisputable growth in the number of companies using virtual teams, it is also true that many of these teams fail to perform. In this sense, this paper analyzes if certain factors related to leadership can be relevant when influencing the efficiency of a virtual work team. This paper contributes to a better understanding of the internal processes within a virtual team in order to maximize the chances of success in this type of organizations.

The search for competitiveness by family-owned companies has led us to research topics that may help these companies succeed. The management of human capital is undoubtedly one of the keys to success, and the practices of employee development (training, promotion, succession, career planning, mentoring and coaching) help improve the performance of these companies.

This paper is based on studying a sample of 560 family companies and analyzing the relationship between performance of the family businesses and the use of employee development practices. The techniques used were confirmatory factor analysis and structural equation modeling.

The results show that employee development has a direct effect on the indicators of performance in family companies. The authors have developed a series of practical implications for companies that justify investments in and efforts with regard to employee career development.

Family businesses need to understand the development needs of their employees. In addition, the very processes and tasks performed. The authors have developed a number of practical implications for companies that justify the investments and efforts made in employee career development. This work validates the usefulness of the use of certain practices for the development of employees in family businesses, allowing the company to generate human capital to build a competitive position in the market.

The results of this study suggest that family businesses should understand the development needs of their employees and that various practices are available to help detect these needs. Family businesses should see individual development processes as an opportunity to improve the performance of employees, which could avoid conflicts in such businesses (Qiu and Freel, 2020). Companies should develop career and succession plans that enable these changes to be faced throughout the company, ensuring that when handover occurs, the candidates are sufficiently qualified in accordance with their career paths. The present research study shows that coaching is a powerful tool for improving performance. Moreover, mentoring appears to be an important part of employee development. For this reason, mentoring programs should be formally planned with designated objectives. In addition, family businesses should provide employees with real opportunities for promotion and the development of their skills and abilities, which is a way to retain nonfamily professionals (Ramankutty and Pujar, 2017).

Family businesses are a very important part of the productive activity of a country and their continuity is necessary to maintain employment and income. The management of people in family businesses is a key aspect for their success, therefore knowing the key aspects for the development of human capital will have a positive influence on maintaining employment and income.

This paper addresses the study of people development processes in family businesses and proves its usefulness to improve performance, considering the formal planning of succession processes and professional careers, providing qualifications to candidates and ensuring that they are show satisfaction with their professional evolution in the company. Likewise, it is positive for family businesses to use coaching relationships, formally scheduled and employing a coach from abroad. The other tool that will favor the development of employees is mentoring, formally programmed, establishing objectives and properly studying the mentor's profile. For this tool to be applied successfully, it is necessary to get the participants to commit to the mentoring process. Finally, the organization must provide its employees with real opportunities to promote, training them and developing their skills.