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MICROECONOMICS (23 journals)

Showing 1 - 23 of 23 Journals sorted alphabetically
American Economic Journal : Microeconomics     Full-text available via subscription   (Followers: 83)
Contabilidad y Negocios     Open Access   (Followers: 2)
Entrepreneurship and Innovation Management Journal     Open Access   (Followers: 25)
Entrepreneurship Education     Hybrid Journal  
Entrepreneurship Research Journal     Hybrid Journal   (Followers: 16)
Family Business Review     Hybrid Journal   (Followers: 20)
Handbook of Population and Family Economics     Full-text available via subscription   (Followers: 5)
International Journal of Entrepreneurship     Full-text available via subscription   (Followers: 16)
International Journal of Entrepreneurship and Small Business     Hybrid Journal   (Followers: 32)
International Journal of Globalisation and Small Business     Hybrid Journal   (Followers: 14)
Journal of Entrepreneurship Education     Full-text available via subscription   (Followers: 6)
Journal of Family and Economic Issues     Hybrid Journal   (Followers: 4)
Journal of Family Business Strategy     Hybrid Journal   (Followers: 6)
Journal of Innovation and Entrepreneurship     Open Access   (Followers: 7)
Journal of Management Analytics     Hybrid Journal   (Followers: 1)
KCA Journal of Business Management     Open Access  
Local Economy     Hybrid Journal   (Followers: 9)
Professions and Professionalism     Open Access   (Followers: 9)
Review of Economic Studies     Hybrid Journal   (Followers: 201)
Small Business Economics     Hybrid Journal   (Followers: 12)
Small Enterprise Research     Hybrid Journal   (Followers: 3)
Small Group Research     Hybrid Journal   (Followers: 7)
Universal Journal of Industrial and Business Management     Open Access   (Followers: 2)
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Journal of Family Business Strategy
Journal Prestige (SJR): 1.28
Citation Impact (citeScore): 3
Number of Followers: 6  
 
  Hybrid Journal Hybrid journal (It can contain Open Access articles)
ISSN (Print) 1877-8585 - ISSN (Online) 1877-8585
Published by Elsevier Homepage  [3203 journals]
  • Unraveling the impact of family antecedents on family firm image: A serial
           multiple-mediation model
    • Abstract: Publication date: Available online 1 March 2019Source: Journal of Family Business StrategyAuthor(s): Anita Van Gils, Jolien Huybrechts, Tommaso Minola, Lucio Cassia While revealing a family firm’s identity can enhance the firm’s appeal to customers and employees and positively affect firm performance, many family firms decide not to portray a family firm image. Until now, we have not had a clear understanding of the factors that determine whether family businesses intentionally project their family firm identity to their external stakeholders. As this decision may affect a family firm’s competitive positioning and its prospects for continuity, it is important to understand the family logic within this decision-making process. Building on stakeholder theory arguments, we examine how family-related factors (e.g., family involvement, transgenerational succession intention and family-centered noneconomic goals) influence the extent to which a dominant family coalition leverages its family image on the company’s website. Our results, which originate from survey research and content analysis of the websites of 340 Dutch family firms, reveal the mechanisms that regulate this process. In particular, we show that transgenerational succession intention and family-centered noneconomic goals serially and double mediate the family involvement–family firm image relationship.
       
  • “Who am I' Who are we'” Understanding the impact of family
           business identity on the development of individual and family identity in
           business families
    • Abstract: Publication date: Available online 28 February 2019Source: Journal of Family Business StrategyAuthor(s): Albertha J. Wielsma, Olof Brunninge Family firms incorporate two identities, namely the identity of the firm and the identity of the family. Previous literature assumes that the owning family influences the identity of the firm by transferring the values and beliefs of the owners to the firm. However, identity theory suggests that identity formation is a dynamic process, based on iterations with the environment and interpretations of the past identity. In family firms this means that identity of the family can also be influenced by the firm. In this longitudinal study of a multi-generational family firm, we draw from identity literature to explore how the interplay between the business and the family identity can take place in a family firm. Our observations suggest that the identity of the firm can influence identity processes on various levels and that this is not necessarily beneficial for the family. Our study thus contributes to the understanding of identity issues in family firms.
       
  • When family social capital is too much of a good thing
    • Abstract: Publication date: Available online 26 February 2019Source: Journal of Family Business StrategyAuthor(s): Inés Herrero, Mathew Hughes Family social capital (FSC) is theoretically predicted to benefit family firm performance, but empirical results repeatedly disappoint this expectation. To bridge the disconnect between theory and empirical evidence, we conceptualize FSC as a multidimensional construct in which its dimensions exhibit a mix of positive and negative consequences resulting in a ‘too much of a good thing’ effect. At high levels, the structural, the structural dimension of FSC can cause the family firm to form a structured group and become trapped in its established networks, preventing new knowledge from entering the family firm. With a hand-collected dataset, we test a curvilinear relationship between the structural dimension of FSC and family firm financial performance, and linear effects from its relational and cognitive dimensions. We further examine whether possessing organizational social capital (OSC) mitigates the negative consequences of high FSC. We reveal that the form and combination of FSC matters more than its amount. We contribute to theory a co-dependent view of FSC and OSC (as two different social capitals) that appreciates their concurrent effects.
       
  • Family presence, family firm reputation and perceived financial
           performance: Empirical evidence from the Philippines
    • Abstract: Publication date: Available online 26 February 2019Source: Journal of Family Business StrategyAuthor(s): Andrea Santiago, Shweta Pandey, Ma. Theresa Manalac Prior research suggests that a distinct family firm reputation could be related to positive stakeholder perceptions. One underlying, yet untested, assumption is that a stronger presence of the enterprising family (for example in the media) supports the development of a family firm reputation, which may positively affect the firm’s diverse constituencies. This study investigates the perceptions of a neglected stakeholder group, namely non-professional investors, in an under-researched context, the Philippines, to determine the relationship between the presence of the enterprising family, family firm reputation, and perceived financial performance. The results indicate that family presence as perceived by the stakeholders is significantly related to both family firm reputation and perceived financial performance. Furthermore, we find that the link between family presence and perceived financial performance is partially mediated by the reputation of the family firm.
       
  • Family involvement signals in initial public offerings
    • Abstract: Publication date: Available online 23 February 2019Source: Journal of Family Business StrategyAuthor(s): Jeffrey A. Chandler, G. Tyge Payne, Curt Moore, Keith H. Brigham Utilizing signaling theory, this study examines the relationship between signals of family involvement (i.e., family ownership and management) and the performance of firms undergoing an initial public offering (IPO). Specifically, we argue that firms using family-oriented language in their IPO prospectus results in greater IPO underpricing due to the misalignment between IPO investors’ general perceptions of family business and their expectations for the IPO. Additionally, we argue that this misalignment is more pronounced for firms in high-tech industries, which are commonly more risk- and growth-oriented. Using a sample of 155 U.S.-based firms that made their IPO between 2009 and 2012, we find support for our hypotheses. Overall, our findings demonstrate that more observable signals of family involvement in an IPO may negatively influence IPO performance, particularly in high-tech industries.
       
  • The effect of nonfamily managers on decision-making quality in family firm
           TMTs: The role of intra-TMT power asymmetries
    • Abstract: Publication date: Available online 23 February 2019Source: Journal of Family Business StrategyAuthor(s): Pieter Vandekerkhof, Tensie Steijvers, Walter Hendriks, Wim Voordeckers In this paper, we examine the impact of the presence of both family and nonfamily managers on TMT decision-making quality. Based on a unique multiple respondent sample of 284 managers from 52 Belgian private family firms, we find that a higher proportion of nonfamily managers reduces TMT decision-making quality through intra-TMT ownership power asymmetries. In addition, we find that variety in knowledge and expertise in the TMT mitigates the negative effect of intra-TMT ownership power differences on decision-making quality. As such, we argue that expertise power can be a good counterbalance for the negative impact of a higher proportion of nonfamily managers on TMT outcomes in family firms.
       
  • Exploring family business brands: Understanding predictors and effects
    • Abstract: Publication date: Available online 14 February 2019Source: Journal of Family Business StrategyAuthor(s): Ascensión Barroso Martínez, Ramón Sanguino Galván, Isabel C. Botero, Óscar R. González-López, María Buenadicha Mateos Family business brands are said to represent a source of differentiation that can create benefits for family firms in today’s competitive market. However, research finds that not all family businesses are likely to promote their family business nature as part of their marketing efforts. Given the limited understanding that we have regarding which family firms promote their family business brand, and the effects that family business brand promotion can have on performance outcomes of the firm, this paper explores the extent to which family ownership and firm age affect the communication of the family business brand in corporate websites. Additionally, it analyzes the effects of communicating the family business brand on firm revenue, and how website quality moderates this relationship. We rely on data from the Global Family Business Index and the coding of the top 300 family firm websites to test our ideas. Results indicate that a higher percentage of family business ownership is related to the communication of the family business brand in the 300 largest family businesses. Additionally, the communication of the family business brand is also positively related to the revenue of the firm, particularly for family firms that have less complex websites. We discuss the implications of these results for future research and practice.
       
  • Daughters’ self-positioning in family business succession: A
           narrative inquiry
    • Abstract: Publication date: Available online 8 February 2019Source: Journal of Family Business StrategyAuthor(s): Donata Mussolino, Mariavittoria Cicellin, Mario Pezzillo Iacono, Stefano Consiglio, Marcello Martinez This article aims to analyze how female successors describe their self-positioning in male-dominated family businesses, once the succession process from father/predecessor to daughter/successor has occurred. Using a narrative approach, we investigated the construction of the self as close to or distant from the father−s leadership style and whether the daughter−s leadership succession was accepted by or imposed on employees of the firm. The four stories that illustrate the process of self-positioning improve our understanding of female successors− subjectivity in developing historically-situated narratives. We identify different pathways by which the daughters constructed their route to self-positioning in their family firms, strengthening the idea of gender as a process embedded in social relationships.
       
  • How promoting a family firm image affects customer perception in the age
           of social media
    • Abstract: Publication date: Available online 7 February 2019Source: Journal of Family Business StrategyAuthor(s): Johanna Zanon, Ursula Scholl-Grissemann, Andreas Kallmuenzer, Nikolas Kleinhansl, Mike Peters The marketing-related behavior of family firms has recently gained scientific attention, as family firms increasingly use visual and textual cues such as the name, pictures of the owning family, or the owning family’s values to communicate their family firm image via multiple marketing channels. Despite the relevance of online marketing in a digitalized and increasingly transparent world, a deeper investigation of how the promotion of a family firm image online influences consumers’ social media engagement is absent in the current literature. This study employs a Social Identity Theory perspective and uses an online experiment to assess if family firm image promotion leads to increased social media engagement by customers. The results show that family firm image promotion specifically increases perceived brand authenticity. This in turn is associated with a higher level of customer-company-identification, which eventually translates into increased intention to engage in social media. The direct effect of family firm image promotion on perceived brand authenticity underpins the notion that family firms can leverage a strategic competitive advantage if they communicate their familial nature to external audiences through online channels.
       
  • The influence of transgenerational succession intentions on the succession
           planning process: The moderating role of high-quality relationships
    • Abstract: Publication date: Available online 12 January 2019Source: Journal of Family Business StrategyAuthor(s): Ine Umans, Nadine Lybaert, Tensie Steijvers, Wim Voordeckers Socioemotional wealth (SEW) is an important point of reference for decision-making in family firms. This study shows that the SEW dimension of renewing family bonds through dynastic succession is positively related to the level of succession planning in a family firm. However, the link between the intention for transgenerational succession and the existence of such planned processes does not appear to be as straightforward as predicted. Therefore, by drawing on relational systems theory, we argue that high-quality relationships will positively moderate the expected positive effect of the intention for transgenerational succession on the level of succession planning in a family firm. Our results partly confirm this argument.
       
  • Socioemotional wealth in family firms: A longitudinal content analysis of
           corporate disclosures
    • Abstract: Publication date: Available online 26 December 2018Source: Journal of Family Business StrategyAuthor(s): Peter Cleary, Martin Quinn, Alonso Moreno Family business literature has noted the nature and presence of socioemotional wealth (SEW) in family firms. One method of observing SEW is by a five-dimension approach, collectively termed FIBER. While the dimensions are well defined, they have been critiqued, as have the theoretical foundations of SEW. Regardless, given the concept of SEW is about a decade old and the FIBER dimensions less so, it is reasonable to argue more research is needed. One potentially useful research approach is an historical one, which we will here term SEW history – the use of historical research to support (or question) the development of SEW as a concept. We undertake a content analysis of corporate disclosures through the Chairman’s Statement of two Irish family breweries over a period of about two decades. To conduct the analysis, we develop a coding scheme based on the FIBER dimensions and offer some research propositions around these dimensions of SEW being stable (or not) over time. Our findings reveal that the Chairman’s Statement does include FIBER dimensions in both breweries and they do change over time. Subsequent statistical analysis reveals significant differences in the FIBER dimensions between the two breweries and context is revealed as a key issue in the assessment of SEW, something prior research has noted. The study also raises some questions on the nature of some FIBER dimensions, in particular the “I” dimension.
       
  • The leading role of the top management team in understanding family firms:
           Past research and future directions
    • Abstract: Publication date: Available online 26 December 2018Source: Journal of Family Business StrategyAuthor(s): Giorgia Maria D’Allura Family firms are often lead by top management teams (upper echelons). Indeed, top management teams (TMTs) are a key determinant of the distinctiveness and heterogeneity of firms. Unfortunately, existing research on the role of the TMT in family firms remains fragmented. Using insights from upper echelons theory, this article systematically reviews and organizes the fragmented findings and arguments from prior research along three blocks: antecedents, processes, and outcomes of TMTs in family firms. In doing so, the article provides a summary of the current state-of-the-art of the literature and proposes a research agenda to open the TMT “black box” to examine TMT characteristics at the individual (demographics) and group level (dynamics and emotions) and determine their impact on family firm outcomes (entrepreneurial orientation, strategic choices, and performance) through future research efforts.
       
  • How familiness affects innovation outcomes via absorptive capacity: A
           dynamic capability perspective of the family firm
    • Abstract: Publication date: Available online 24 December 2018Source: Journal of Family Business StrategyAuthor(s): Joshua J. Daspit, Rebecca G. Long, Allison W. Pearson Familiness, the unique bundle of resources associated with the family’s involvement in the firm, affects firm outcomes; yet, how familiness affects the internal dynamics of the family firm to yield outcomes, such as innovation, remains unclear. To this end, we use a dynamic capability perspective to propose that familiness affects absorptive capacity, a knowledge-specific dynamic capability, through which the firm’s innovation outcomes are influenced. Further, we acknowledge how these relationships are altered by the involvement of nonfamily members in the family firm. The conceptual model offered highlights the role of absorptive capacity in understanding how familiness affects innovation outcomes and elucidates the heterogeneity across family firms that results from nonfamily member involvement.
       
  • Women leaders and firm performance in family businesses: An examination of
           financial and nonfinancial outcomes
    • Abstract: Publication date: December 2018Source: Journal of Family Business Strategy, Volume 9, Issue 4Author(s): Ingrid C. Chadwick, Alexandra Dawson This study examines how the inclusion of women leaders in upper levels of management is associated with organizational performance in family-controlled businesses. Although the idea that gender diversity is beneficial for business has gained popularity, the business case remains equivocal and scholars are being urged to offer renewed and more nuanced support for when and how women in senior leadership roles may affect organizational outcomes. In response to these calls, we distinguish between financial and nonfinancial performance outcomes, comparing family and nonfamily businesses. Based on a framework that combines the upper echelon and double standards of competence theories, we examine the relationship between female leadership and firm performance, using panel data of large public firms from the S&P 500 over a five-year period. Our findings indicate that female-led organizations (i.e., those with a female CEO and/or CFO) outperform male-led organizations in terms of nonfinancial performance across family and nonfamily businesses. However, in financial terms, we find a statistically significant and positive relationship between female leaders and firm performance only in nonfamily businesses. Our main theoretical contribution is to suggest that the upper echelon and double standards of competence theories may not apply in family businesses in the same way as they do in nonfamily businesses, due to limitations to managerial discretion in the former. Our study has implications for practitioners, especially for owners of and advisors to family businesses.
       
  • Too much of a good thing: Family involvement and the survival of listed
           Korean firms
    • Abstract: Publication date: December 2018Source: Journal of Family Business Strategy, Volume 9, Issue 4Author(s): Jaeyoung Cho, Danny Miller, Jangwoo Lee There is a quandary facing many family businesses: namely, that although initially positive for firm survival, beyond a certain level of family ownership, family involvement in ownership and/or management may threaten firm survival, especially under later generation family CEOs. We argue and find in a study of listed Korean firms that a balance between family and public ownership enhances firm survival. Under balanced ownership both types of owners can prevent one another’s excesses. Moreover, the negatives of too much family ownership are accentuated when there are family CEOs, particularly in post-founder generations.
       
  • Acknowledgement to Ad-hoc Reviewers 2018
    • Abstract: Publication date: December 2018Source: Journal of Family Business Strategy, Volume 9, Issue 4Author(s):
       
  • Editor’s Note
    • Abstract: Publication date: December 2018Source: Journal of Family Business Strategy, Volume 9, Issue 4Author(s): Torsten M. Pieper
       
  • It’s all about who you know: The role of social networks in intra-family
           succession in small and medium-sized firms
    • Abstract: Publication date: December 2018Source: Journal of Family Business Strategy, Volume 9, Issue 4Author(s): Sabrina Schell, Miriam Hiepler, Petra Moog Intra-family succession is a complex and challenging process in which the resources of the owning family are used, preserved, and potentially expanded. Social capital, as a result of investments in networking, is a valuable resource in this context, and its successful retention and development during intra-family succession could be decisive for the continuance of small and medium-sized family business. Therefore, the transfer of the social network from the predecessor to the successor during succession in the context of a family business is crucial. Based on 11 case studies of German small and medium-sized family businesses, this article offers the first empirical insights on social network transfer on an individual level. The social network relevant for the family business and bounded on predecessor and successor changes over the time span of succession and is closely connected with a role change of the involved actors. Moreover, the article identifies the different patterns related to the transfer of network contacts, for example influencing the length and structure of the succession process. By introducing the renewal-of-network-effect and the generation-gap-effect as well as developing an overarching model, we illustrate, that if a resource such as social capital is evaluated as crucial for the future success of the family business, it can help structure and shorten or extend the succession process and influence the behavior of the parties involved.
       
  • Special Issue: “Shared Leadership and Decision-Making in Family
           Businesses” Call for papers
    • Abstract: Publication date: December 2018Source: Journal of Family Business Strategy, Volume 9, Issue 4Author(s):
       
  • Does regional context matter for family firm employment growth'
    • Abstract: Publication date: December 2018Source: Journal of Family Business Strategy, Volume 9, Issue 4Author(s): Johan Karlsson This study investigates the proposition that family firms have comparative employment growth advantages in relation to non-family firms in regions with relatively low population density. This premise is tested across metropolitan, urban and rural regions using total population data on domestically and privately owned, single-plant, non-listed limited liability firms in Sweden. A panel of more than 89,000 firms is followed over a seven-year period from 2004 to 2010. The average family firm is found to grow more slowly than the average non-family firm across the urban-rural context. However, in line with the study’s conjecture, these differences are found to decrease across metropolitan, urban and rural regions.
       
  • Acquisitions, disclosed goals and firm characteristics: A content analysis
           of family and nonfamily firms
    • Abstract: Publication date: December 2018Source: Journal of Family Business Strategy, Volume 9, Issue 4Author(s): Maija Worek, Alfredo De Massis, Mike Wright, Viktoria Veider Despite the considerable body of research on acquisitions and their goals, we lack insights on how family firms differ from nonfamily firms in their acquisition goals, particularly in view of the characteristics that distinguish family businesses. Thus, to enhance current understanding, we examine firms’ disclosed goals in their deal announcements and find that firm ownership type is an important determinant of acquisition goals. Drawing on the content analysis of 558 deals from 393 firms, we identify seven goal categories. Our findings contextualize several differences in the goals of family and nonfamily firms, contributing to the family firm and acquisition literatures, offering implications for practice and potential avenues for future research.
       
  • Special Issue: “Human Resources and Mutual Gains in Family
           Firms” Call for papers
    • Abstract: Publication date: September 2018Source: Journal of Family Business Strategy, Volume 9, Issue 3Author(s):
       
  • Can family business loosen the grips of accounting, economics, and
           finance'
    • Abstract: Publication date: September 2018Source: Journal of Family Business Strategy, Volume 9, Issue 3Author(s): Alex Stewart This is the first bibliometric study of the scholarly position of the family business field relative to other research fields. It employs three measures. First, it calculates balance of trade scores, as measures of relative influence. Entrepreneurship proves to have a positive balance of trade of 34.54% with family business, and the wider set of business journals have a positive balance of trade of 43.62% with entrepreneurship. Second, it calculates Simmelian ties, as measures of relational embeddedness in scholarly networks. Family business has very few strong ties, mainly with entrepreneurship, and it has no strong ties with the social sciences and humanities journals. Third, it calculates cross-citation scores by disciplines, as measures of the extent of cross-fertilization. Finance has the largest positive balance of trade with family business, at 67.5%. Accounting and economics also have positive balances of 28.6% and 38.8% respectively. However, FBR enjoys favorable balances, of 20.8%, 50%, and 61.1% respectively. Anthropology, family studies, geography, history, law, political science, psychology, and sociology have very few cross-citations. Family business journals show few signs of exploring older disciplines, other than accounting, economics and finance. The discussion raises reasons to be concerned and possible means for improvement.
       
  • Business stressors, family-business identity, and divorce in family
           business: A vulnerability-stress-adaptation (VSA) model
    • Abstract: Publication date: September 2018Source: Journal of Family Business Strategy, Volume 9, Issue 3Author(s): Paul Sanchez-Ruiz, Ileana Maldonado-Bautista, Matthew Rutherford A considerable amount of research focuses on how divorce in enterprising families influences family business outcomes. Yet, the impact that family businesses have on the divorce of enterprising families remains relatively under-researched. We contribute to the emerging enterprising family heterogeneity literature by building upon the Vulnerability-Stress-Adaptation (VSA) model and explore two questions regarding the influence of family businesses on divorce: Do family business-related stressors influence divorce' And, if so, what adaptive processes help enterprising families to cope with family business-related stressors' We hypothesize that high levels of debt and high sales revenue levels (as stressors) positively and significantly affect the rate of divorce in family businesses. In addition, we contend that a strong identity alignment between family and business moderates the stressors-divorce relationship, reducing the divorce rate. Our empirical assessment of divorce in family businesses employs two large cross-sectional data sets—the 1997 (N = 2495) and 2002 (N = 583) American Family Business Surveys.1 Overall, we find that our stressors do increase the rate of divorce, but this can be mitigated by identity alignment.
       
  • Family business employer brand: Understanding applicants’ perceptions
           and their job pursuit intentions with samples from the US and Belgium
    • Abstract: Publication date: September 2018Source: Journal of Family Business Strategy, Volume 9, Issue 3Author(s): Diane Arijs, Isabel C. Botero, Anneleen Michiels, Vincent Molly Recruiting college educated non-family employees has been one of the challenges identified by family business owners affecting the success and continuity of family firms. To better understand this challenge, we build on previous work from recruitment, branding, and family business literature to introduce the family business employer brand construct and its components. We explore the perceptions that non-family applicants have about the family business employer brand components, and how these perceptions affect intentions to pursue a job with a family firm. Data were collected through surveys in the USA (N = 293) and Belgium (N = 324). Results from both countries indicate that participants evaluated instrumental (i.e., compensation, job security, and advancement opportunities) and symbolic (i.e. trustworthiness, innovation, thrift, style, and dominance) components of the family business employer brand differently in the two countries and these factors varied in the effect that they had on the intent to pursue a job in a family firm. Implications of these results for practice and further research are discussed.
       
  • A note on the relationships between learning, market, and entrepreneurial
           orientations in family and nonfamily firms
    • Abstract: Publication date: September 2018Source: Journal of Family Business Strategy, Volume 9, Issue 3Author(s): Remedios Hernández-Linares, Franz W. Kellermanns, María Concepción López-Fernández Despite evidence pointing to differences between family and nonfamily firms regarding entrepreneurial orientation (EO), market orientation (MO), and learning orientation (LO), little is known of the relationships between these variables in the family business context. Drawing on the resource-based view (RBV) and a sample of 509 Spanish small and medium enterprises (SMEs), our results suggest that the family business context promotes the LO-EO link, which helps explain why some firms are more entrepreneurially oriented than other firms.
       
  • The impact of family influence on financial reporting quality in small and
           medium family firms
    • Abstract: Publication date: September 2018Source: Journal of Family Business Strategy, Volume 9, Issue 3Author(s): Antonio Duréndez, Antonia Madrid-Guijarro In this study, we investigate whether accounting information quality is affected by the special characteristics of small- and medium-sized family firms. These companies have a particular power and management structure and different stockholder interests, compared to large companies. We go a step further than prior literature and use a multidimensional approach based on the Family Influence on Power, Experience, and Culture (F-PEC) scale to assess heterogeneity among family firms. Additionally, we develop a comprehensive approach that considers discretional accruals, real earnings, and accounting information quality measurements such as conservatism and earnings persistence. Our findings, based on a sample of 252 small- and medium-sized Spanish family manufacturing firms, show that the ‘Power’ dimension decreases the quality of financial reporting, whereas ‘Experience’ promotes earnings persistence and conservatism; finally, ‘Culture’ curbs earnings management in terms of real earnings and favours both earnings persistence and conservatism. Consequently, according to our results, family businesses that resemble our sample firms should promote family involvement in terms of culture and experience, while limiting power inside the company.
       
  • Editor’s Note
    • Abstract: Publication date: September 2018Source: Journal of Family Business Strategy, Volume 9, Issue 3Author(s): Torsten M. Pieper
       
  • Transgenerational entrepreneurship around the world: Implications for
           family business research and practice
    • Abstract: Publication date: Available online 13 April 2018Source: Journal of Family Business StrategyAuthor(s): Rodrigo Basco, Andrea Calabrò, Giovanna Campopiano The concept of transgenerational entrepreneurship postulates that the success of family firms across generations relies on three main dimensions—firm entrepreneurial orientation, familiness, and cultural contexts—which affect their financial, market, and social performance. The aim of this article is to empirically test the concept of transgenerational entrepreneurship using a large sample of family firms from 21 countries. Our results support and validate the main dimensions that form the concept and their structural relationships as well as highlight differences and similarities across cultural contexts.
       
  • Psychological ownership as a driving factor of innovation in older family
           firms
    • Abstract: Publication date: Available online 20 March 2018Source: Journal of Family Business StrategyAuthor(s): Sabine B. Rau, Arndt Werner, Sabrina Schell Innovation is often key to long-term success. While some family firms innovate less when growing older, others are very successful and innovative over multiple generations. We provide a new explanation for this phenomenon by showing that psychological ownership can influence the relationship between generation in ownership and innovation output. In line with the literature, we find that over the generations, innovation output decreases, being significantly lower in the third and later generation than in the founder generation. However, if the third and later generation owner-managers have high levels of psychological ownership, innovation output is as high as in the founder and second generation. Our hypotheses are supported by data obtained from 942 German firms. Innovation in the third generation and beyond seems more feasible when not only legal ownership, but also psychological ownership, is passed down to the succeeding generation.
       
  • Lean innovation: Family firm succession and patenting strategy in a
           dynamic institutional landscape
    • Abstract: Publication date: Available online 20 March 2018Source: Journal of Family Business StrategyAuthor(s): Michael Carney, Jing Zhao, Limin Zhu The paper is motivated by recent findings about family firms (FFs) ability to ‘do more with less’ in the innovation process, which we dub ‘lean innovation’. We consider lean innovation patenting strategies in an emerging market context that is undergoing improvement in its intellectual property protection (IPP) regime. Grounded in upper echelons theory we expect that the initiation of an intra-family succession will lead to generational shift in a FFs approach to IPP, as evinced in its patenting strategy. Applying a difference in difference methodology we are able to compare FFs who have undertaken an intra-family succession with FFs who have not yet initiated a succession process. Further, we consider the second difference as a strategy change between the pre-and post-succession period thereby isolating the effects of the post-succession change on patenting strategy. We also distinguish between different patent types (invention, utility, and design), and consider FF propensity to patent, and patent conversion rates. Based on generational differences between founders and successors we find successors are significant adopters of lean innovation patenting strategies. We add to the sparse literature on succession in emerging market FFs and contribute to improved understandings of long-term FF strategic adaptation in a dynamic institutional landscape.
       
  • Reaping what you sow: The family firm innovation trajectory
    • Abstract: Publication date: Available online 19 March 2018Source: Journal of Family Business StrategyAuthor(s): Marleen Dieleman This study sheds more light on the ‘ability-willingness paradox’, which argues that family firms may be more able but less willing to engage in innovation. Using a longitudinal case study, we investigate the influence of family governance attributes during different stages of innovation and suggest that family entrepreneurship facilitates the conversion of innovation inputs to outputs. Family governance attributes (control, monitoring and networking) support innovation activity during some phases, but impede it during others. We also found the reverse: accumulated innovation capabilities influence family firm governance practices such as monitoring behaviour and control, especially when later-generation family members join the firm. These outcomes partially resolve the conflicting outcomes of prior studies and lead to useful propositions that can redirect future research.
       
  • Unlocking innovation potential: A typology of family business innovation
           postures and the critical role of the family system
    • Abstract: Publication date: Available online 15 February 2018Source: Journal of Family Business StrategyAuthor(s): Emanuela Rondi, Alfredo De Massis, Josip Kotlar How can family firms unlock their innovation potential' Despite the recent growth in research on family business innovation, existing literature has yielded controversial findings. Family firms are recognized as more conservative and steadfast to their tradition, however many of the most innovative firms worldwide are family businesses. This points to an apparent willingness-ability paradox in family business innovation. Drawing on family business innovation and family systems literature, we argue that family characteristics are an important yet overlooked driver of this paradoxical tension. We develop the construct of family business innovation posture, and identify a typology of four ideal types: Seasoner, Re-enactor, Digger, and Adventurer. Furthermore, we explore and illustrate with empirical data the necessary fit between the family business innovation posture and family-related dimensions to resolve the willingness-ability paradox. The article examines the implications of the typology for family business innovation research by exploring the effects of intra-family succession, outlining important directions for future research aimed at advancing current understanding of the role of the family in family business innovation, and providing practical insights for family business owners, managers, and consultants.
       
 
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